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Home My WebLink About04-28-2025 Community Investment Committee Minutes SignedOFFICE OF THE CITY CLERK BI ANCA L. T IR A DO , C ITY C LERK COMMUNITY INVESTMENT Committee Members Present: Committee Members Absent: Other Council Present: Others Present: Presenter(s): Agenda: APRIL 28, 2025 5:00 P.M. Troy Warner, Karen L. White , Sherry Bolden-Simpson , Ophelia Gooden-Rodgers , Thomas Gryp, Kaine Kanczuzewski None Canneth Lee , Rachel Tomas Morgan Bianca L. Tirado , Matthew Neal , Margaret Gotsch , Bob Palmer Joseph Molnar Bill No. 25-26 -Designating Resolution - Real Property Tax Abatement for Allen Edwin Residential Builders , LLC Please note the attached link for the meeting recording: https :// docs.southbendin.gov/WebLink/browse.aspx? dbid=0&mediaid=394616 Committee Chair Troy Warner called to order the Community Investment Committee meeting at 5:15p.m. Bill No. 25-26 -Designating Resolution -Real Property Tax Abatement for Allen Edwin Residential Builders, LLC Joe Molnar, Assistant Director of Growth and Opportunity , with offices on the fourteenth (14 t h) floor of the County City Building, South Bend , IN 46601 , stated that Bill No. 25-26 is a designating resolution for a nine-year (9) real property tax abatement for Allen Edwin Residential Builders, LLC . The property is currently vacant and is owned by the Redevelopment Commission . Bill No. 25-26 will allow for the development of sixteen (16) new rental units, twelve ( 12) of which must be designated as affordable units. With this development, the property's annual tax revenue will increase by thirty-five thousand dollars ($35 ,000). The total investment is two million five hundred thousand dollars ($2 ,500 ,000). INTE GRI TY I SER VIC E I ACC ESS IBILIT Y Matth cll' Nea l D EPVfY OTY 0.ERK / D IRECTOR OF POLICY Man;arc l C o lsc h D IRECTOR OF S PEGAL P ROJECTS EXC ELLE NC E ACCO UNTA BILIT Y I INNOVA TI ON I INC LU SION I EMPOW ER MENT 455 County -City Building ! 227 W . Jefferson Blvd. I South Bend , Indiana 46601 I p. 574.235.9221 I f. 574.235.9173 ! www.southbendin.gov @ CITY 01, SOUTH BEND I OFFICE OF THE CITY CLERK Brian Farkas, Director of Workforce Housing at Allen Edwin Homes, with offices at 795 Clyde Court, Southwest, Byron Center, MI 49315, stated that Allen Edwin is excited to be building in South Bend. Committee Chair Warner requested infonnation regarding the project timeline . Brian Farkas stated that they intend to begin construction in July. Citizen Member Thomas Gryp asked how much the land costed. Brian Farkas answered one thousand dollars ($1 ,000). Citizen Member Gryp requested infonnation regarding estimated rent pricing. Brian Farkas stated that for fifteen (15) years the rent for at least twelve (12) units must remain under one hundred and twenty percent (120 %) of the Area's Median Income (AMI). For a two (2) bedroom home the maximum rent would be between one thousand five hundred dollars ($1,500) a month and one thousand six hundred dollars ($1 ,600) a month. Citizen Member Gryp asked what would happen if the owner sold before the abatement ended. Joseph Molnar stated that the affordability commitments would remain. Citizen Member Gryp asked if the City was concerened the project's asctetic disrupting the area. Joseph Molnar answered that Allen Edwin worked with the City on the design of the project. Committee Member Ophelia Gooden-Rodgers requested clarity regarding low-income units. Joseph Molnar stated that a separate deal with Advantix will result in the creation of more low- income housing in the area. Committee Chair Warner held the public hearing and nobody spoke. Committee Member Sherry Bolden-Simpson thanked the petitioner. Council Vice President Rachel Tomas Morgan thanked the petitioner. Council President Canneth Lee thanked the petitioner. Committee Chair Warner mo ved to send Bill N o. 25-26 to the Full Council with a favorable recommendation, which was seconded by Committee Vice C hair Karen White and carried by a vote of six (6) ayes. Committee Chair Tro y Warner -Aye Committee Vice Chair Karen L. White -Ay e Committee Member Ophelia Gooden-Rodgers -Aye Committee Member Sherry Bolden-Simpson -Aye Citizen Member Thomas Gry p -Aye Citizen Member Kaine Kanczuzewski -Aye With no further business , Committee Chair Tro y Warner adjourned the Community Investment Committee meeting at 5:28 p.m. EXC ELLE NC E I ACCOUN TA BI LI TY INNO VATION I INC LU SION I EMPOWER MENT 455 County-City Building 1227 W Jefferson Blvd. I South Bend. Indiana 46601 I p. 574.235.9221 I f. 574.235.9173 1 www .sou thb end in.gov (~ CITYOFSOtrrHBEND I OFFI CEOFTH ECITY CLE RK Respectfully Sub • ted, Troy Warner, Committee Chair NOTICE FO R HEARING AND SI G HT ll\IPAIRED PERSONS Auxiliary Aid or 01 hcr Services ma y be Ava il able up on Rcc1u cs t at No Char~c. Plea se l,!i ve Rusonablc Adva nce Rcc 1ucs 1 when Possi bl e EXC ELLE NC E ACCO U NTA BILIT Y INNOVATI ON INC LU SION EM POW ER M ENT 455 County-City Building 1227 W. Jefferson Blvd I South Bend, Indiana 46601 I p. 574.235 .9221 I f. 574235.9173 1 www .southbend1n.gov