10-28-2024 Common Council Meeting Minutes (Signed)

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REGULAR MEETING October 28, 2024 Councilmember Warner stated that this Bill was heard in the Community Investment Committee and comes to the Full Council with a favorable recommendation. Mark Bemenderfer, Business Development Manager, with offices on the 141h floor of the County-City building, explained that this bill aims to correct a scrivener's error found in Resolution 5096-24, adopted at the October 14, 2024, Council Meeting. This declaratory resolution designates the parcels as an Economic Revitalization Area for tax abatement purposes and specifies the duration of this designation. The previous resolution mistakenly set the end date as December 31, 2033; it will be corrected to December 31, 2027. Council President McBride held the public hearing, and nobody spoke. Councilmember White motioned for the adoption of Bill No. 24-36, seconded by Councilmember Tomas Morgan, and carried by a vote of nine (9) ayes. Council President Sharon McBride—Aye Council Vice President Sheila Niezgodski—Aye Councilmember Canneth Lee—Aye Councilmember Ophelia Gooden-Rodgers—Aye Councilmember Troy Warner—Aye Councilmember Sherry Bolden-Simpson—Aye Councilmember Dr. Oliver Davis—Aye Councilmember Karen L. White—Aye Councilmember Rachel Tomas Morgan—Aye 24-37 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 123 NORTH DR. MARTIN LUTHER KING JR. BOULEVARD, SOUTH BEND, INDIANA 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A NINE-YEAR (9) REAL PROPERTY TAX ABATEMENT FOR AFP III CORP. Clerk Tirado read the resolution to the Council. Council President McBride asked for a committee report. Councilmember Warner stated that this Bill was heard in the Community Investment Committee and comes to the Full Council with a favorable recommendation. Mark Bemenderfer, Business Development Manager, with offices on the 141h floor of the County-City building, presented a confirming resolution indicating that the petitioner,AFP I I I Corp., is looking to invest nine point two ($9,200,000) million dollars. To date, they have already invested four million, one hundred ninety-six thousand, one hundred ninety-two ($4,196, 192) dollars into the property and plan to expand their staff by adding five(5) employees, resulting in an annual payroll of one hundred sixty-six thousand, four hundred ($166, 400) dollars. The amount of taxes abated under this resolution will be one hundred twenty-two thousand, one hundred twenty-two ($122,122) dollars, and it is estimated that tax collections will increase from three hundred thirteen thousand, twenty-three ($313,023) dollars to four hundred forty-eight thousand, three hundred eighty-three ($ 448,383) dollars following the project. Council President McBride held the public hearing, and nobody spoke. Councilmember Dr. Davis thanked AFP 111 for their investment in the downtown community. Councilmember Lee also expressed gratitude to the petitioner for their commitment to the area. Councilmember Bolden-Simpson thanked them for their investment in this beautiful building. Councilmember Warner motioned for the adoption of Bill No. 24-37,seconded by Councilmember Tomas Morgan, and carried by a vote of nine (9) ayes. 8