HomeMy WebLinkAbout07-13-87 Human Resources & Economic Development Otzututitttt &part
HUMAN RESOURCES AND ECONOMIC DEVELOPMENT COMMITTEE
Ma tilt &muton Qtouud! of 1lir Qtttg of Snug Wind:
The July 13 , 1987 meeting of the Human Resources and
Economic Development Committee was called to order by its
Chairman, Councilman Eugenia Braboy, at 5:00 p.m. in the Council
informal meeting room.
Persons in attendance included : Councilmen Zakrzewski ,
Braboy, Beck, Puzzello, Taylor , Serge, and Barcome; Elizabeth
Leonard , Jon Hunt , Michael Vance, Kevin Butler, Charlie Clark,
members of the news media, and Kathleen Cekanksi-Farrand.
Councilman Braboy noted that the first item to be reviewed
by the Committee was Bill No. 59-87 which would appropriate
$115,478 among various accounts within the Division of Community
Development.
Elizabeth Leonard then reviewed the substitute version of
that bill with the Committee.
Following further discussion, Councilman Taylor made a
motion, seconded by Councilman Puzzello, that the substitute
version of Bill No. 59-87 go to Council favorably. The_motion
passed .
Mr. Jon Hunt then reviewed Resolution No. 87-64 which would
designate property known as 220 West Colfax as an economic
revitalization area for real property tax abatement. Mr. Charles
Clark, the developer of One Michiana Square Associates, indicated
that a ten ( 10) year tax abatement was being sought. He then
provided a brochure to the members of the Committee. It was
indicated that the first floor of the building would be
designated for retail use with the remaining portion utilized as
office space. He further indicated that there would be an
historic designation of the building.
That building is seven (7) stories in height with a total
area of 42 , 000 square feet. Rent is anticipated to be in the
area of $12.00 to $12.50 per square foot with occupancy to begin
in March or April of 1988 .
Following further discussion, Councilman Taylor made a
motion, seconded by Councilman Puzzello, that Resolution No. 87-
64 be recommended favorably to Council. The motion passed .
Mr. Jon Hunt then reviewed the report on Resolution No. 87-
63 which would designate certain areas within the City commonly
known as Monroe Park disposition parcel No. M2-8 as an economic
revitalization area. Mr. Kevin Butler, the attorney for the
project, indicated that the petitioner was seeking a six (6) year
real property tax abatement . The project would be new
construction involving an office building of 16,500 square feet.
PR,, PR(RR PVOLI"NINE CO.
Human Resources and
Economic Development
Minutes/July 13 , 1987
Page 2
Following further discussion , Councilman Taylor made a
motion, seconded by Councilman Beck, that Resolution No. 87-63 be
recommended favorably to Council . The motion passed.
The Council Attorney indicated that the new tax abatement
State law took effect July 1 , 1987.
There being no further business to come before the
Committee , the meeting was adjourned at 5 : 20 p .m.
Respectfully submitted,
Councilman Eugenia Braboy , Chairman