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This was a petition for a real property abatement of 7 years for Catalyst LLC planning to locate in Ignition <br />Park. <br />Brock Zeeb made the presentation. He said the estimated construction coast was $12,000,000. Taxes <br />abated over the 7 year would be nearly $1.5 million; In addition 32 jobs would be created with an <br />estimates payroll of just under $1,000,000 a year. <br />Rich Deahl, an attorney for the developer and Brad Toothaker were present for questions. <br />In the Council portion Henry Davis asked if the abatement was critical for the development. Brad <br />assured him it was indeed. Brad also agreed to the importance of community benefit considerations <br />while maintaining the project itself was a huge benefit. <br />On a motion by Gavin Ferlic seconded by Derek Dieter the petition was forwarded to full Council <br />favorably with unanimous assent. <br />The last bill on the agenda, 14 -68 was a resolution confirming a determination made by the <br />Redevelopment Commission to release TIF revenues for Erskine Village to various taxing units. State law <br />requires the Council vote to ratify or negate such an action of the Commission. <br />There were no questions from Council or public. <br />Derek Dieter moved to recommend favorably. Gavin Ferlic seconded and it was sent without dissent. <br />Gavin adjourned the meeting at 4:20. <br />Respectfully Submitted, <br />Gavin Ferlic, Chairperson <br />Community Investment <br />2 1 P a g e <br />