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Home My WebLink About10-28-2024 Community Investment Committee Meeting Minutes (Signed) 4yo)THBCC O G U d ' w �a : y' PEACE 1&i5 OFFICE OF THE CITY CLERK BIANCA L. TIRADO, CITY CLERK COMMUNITY INVESTMENT October 28, 2024, 4:30 P.M. Committee Members Present: Troy Warner, Rachel Tomas Morgan, Ophelia Gooden-Rodgers, Sherry Bolden- Simpson, Thomas Gryp* Committee Members Absent: Kaine Kanczuzewski Others Present: Bianca L. Tirado, Elivet Quijada-Navarro, Matthew Neal, Talia Thornton, Bob Palmer, James Luk, Canneth Lee Presenter(s): Mark Bemenderfer, Regina Emberton Agenda: Bill No. 24-35—Confirming Resolution— Real Property Tax Abatement 321 West Wayne Street Bill No. 24-36—Resolution Correcting a Scrivener's Error in Resolution 5096-24 Bill No. 24-37—Confirming Resolution— Real Property Tax Abatement 123 North Dr. Martin Luther King Jr. Boulevard Members marked with an asterisk (*) are in virtual attendance. Please note the attached link for the meeting recording: https://(Iocs.south bendin.(,:ov/WebLink/browse.aspx?dbid=0&mediaid=387104 Committee Chair Troy Warner called to order the Community Investment Committee meeting at 4:30 p.m. Bill No. 24-35 —Confirming Resolution — Real Property Tax Abatement 321 West Wayne Street Mark Bemenderfer, Business Development Manager, with offices on the 141h floor of the County-City building, presented Historic Hearthstone LLC. This abatement aims to transform the site into a mixed-use development, featuring a restaurant as the anchor tenant, along with INTEGRITY I SERVICE I ACCESSIBILITY Elivet Quijada-Navarro Matthew Neal Taha J.Thoniton C f-IIEF OF STAFF/CFUEF DEPUTY CITY CLERK DEPUTY OTY CLERK/DIRECTOR OF POLICY DIRECTOR of SPEQAL PROJECTS EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT 455 County-City Building 1 227 W.Jefferson Blvd.I South Bend,Indiana 46601 1 p.574.235.92211 f.574.235.91731 www.southbendin.gov CITY OF SOUTH BEND OFFICE OF THE CITY CLERK office spaces for Indiana Landmarks and South Bend Trademarks. The total investment is projected to be two point five ($2,500,000) million dollars. Currently, the tax impact stands at four thousand six hundred and thirty-six($4,636) dollars, with an estimated future tax impact of fifty-five thousand three hundred and ninety-six ($55,396) dollars. The project includes four hundred seventy-one thousand two hundred and forty-eight($471,248)dollars in tax abatement and eighty-two thousand seven hundred and thirteen($82,713) dollars in taxes to be paid. Regina Emberton, petitioner at 615 West Colfax Avenue, South Bend, IN 46601, thanked the Council for their consideration and collaboration. She expressed her excitement for the building's renewal and the potential for new jobs in the downtown area. Committee Chair Warner held the public hearing, and nobody spoke. Committee Chair Warner expressed gratitude to the petitioner for her commitment and investment in the city. Committee Member Ophelia Gooden-Rodgers motioned to send Bill No. 24-35 to the Full Council with a favorable recommendation, which was seconded by Committee Vice-Chair Rachel Tomas Morgan and carried by a vote of four(4) ayes, one (1) committee member abstained, with one (1) committee member abstaining. Committee Chair Troy Warner-Aye Committee Vice Chair Rachel Tomas Morgan—Aye Committee Member Ophelia Gooden Rodgers -Aye Committee Member Sherry Bolden-Simpson—Aye Committee Member Kaine Kanczuzewski -Absent Committee Member Thomas Gryp -Abstain Bill No. 24-36—Resolution Correcting a Scrivener's Error in Resolution 5096-24 Mark Bemenderfer, Business Development Manager, with offices on the 141' 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. Committee Chair Warner held the public hearing, and nobody spoke. Committee Member Ophelia Gooden-Rodgers motioned to send Bill No. 24-36 to the Full Council with a favorable recommendation, which was seconded by Committee Vice-Chair Rachel Tomas Morgan and carried by a vote of five (5) ayes, with one (1) committee member absent. Committee Chair Troy Warner-Aye Committee Vice Chair Rachel Tomas Morgan—Aye Committee Member Ophelia Gooden Rodgers -Aye Committee Member Sherry Bolden-Simpson—Aye Committee Member Kaine Kanczuzewski -Absent Committee Member Thomas Gryp -Aye Bill No. 24-37—Confirming Resolution—Real Property Tax Abatement 123 North Dr. Martin Luther King Jr. Boulevard EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 455 County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p.574.235.9221 f.574.235.9173 www.southbendin.gov CPTY OF SOUTH BEND OFFICE OF THE CITY CLERK Mark Bemenderfer, Business Development Manager, with offices on the 14th floor of the County-City building, presented a confirming resolution indicating that the petitioner,AFP 111 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. Councilmember Canneth Lee inquired about the timeline for the project, specifically when work will begin. Michael Hinks,the petitioner from 9 Park Place, Great Neck,NY 11024, responded that the estimated start time is in February. Committee Chair Warner held the public hearing, and nobody spoke. Committee Chair Bolden-Simpson motioned to send Bill No. 24-37 to the Full Council with a favorable recommendation which was seconded by Committee Vice-Chair Gooden-Rodgers and carried by a vote of five (5) ayes, with one (1) committee member absent. Committee Chair Troy Warner-Aye Committee Vice Chair Rachel Tomas Morgan—Aye Committee Member Ophelia Gooden Rodgers -Aye Committee Member Sherry Bolden-Simpson—Aye Committee Member Kaine Kanczuzewski -Absent Committee Member Thomas Gryp -Aye With no further business, Committee Chair Warner adjourned the Personnel & Finance Committee meeting at 4:42 p.m. Respectfull bmitted, Troy Warner, Comm' hair NOTICE FOR HEARING AND SIGHT IMPAIRED PERSONS Auxiliary Aid or Other Services maybe Available upon Request at No Charge. Please give Reasonable Advance Request when Possible EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 455 County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p.574.235.9221 f.574.235.9173 www.southbendin.gov