08-25-08 Community & Economic Committee

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BILL NOS 08-78: 08-79 AND 08-80 -TAX ABATEMENT -INNOVATION PARK AT NOTRE DAME Bob Mathia with the aid of a handout (attached) explained the essence of the request and reasons for the special consideration. Essentially what is requested for personal property to be in the Park, is a five year term with an extension of the ERA designation from 2 year to 10 and also guaranteeing all future tenants would automatically be granted 5 year abatements. For real property the ERA designation request of 10 years would assure 10 year eligibility for all four buildings to be developed in the Park. All this would be assumed without a Public Benefits Points Summary normally required before consideration. Phil Faccenda, Attorney, and David Brenner then extensively described the nature of Innovation Park. Most significantly Brenner described it as a transformational place where: 1. Basic research would be done on campus. 2. Start-up applications would occur at Innovation Park and 3. Hopefully after start-up location and production would occur in the area prepared by the city in the old Studebaker corridor. Council Member Varner asked what happens to abatement when a firm leaves the Park. Kathleen Cekanski-Farrand responded that current state-law does not allow multiple site tech parks so it would be lost. There will be an effort to change this in the next session of the legislature. Speaking enthusiastically in support were Mayor Luecke, Pat McMahon, and Jeff Gibney. Councilmember's Varner and Puzzello asked questions along with citizen member Mark Smith. On a motion by Catherine Andres, seconded by Council Member Puzzello and support by all each of the three bills were sent to Council favorably. There being no further business to come before the committee, Councilmember Derek D. Dieter, Chairperson, adjourned the meeting at 5:15 p.m. Respectfully Submitted, Derek D. Die er, Chairperson Community & Economic Development Committee