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Home My WebLink About02-10-2025 Community Investment Committee Minutes SignedOFFICE OF THE CITY CLERK BI ANCA L. TIR DO , CITY CLERK COMMUNITY INVESTMENT Committee Members Present: Committee Members Absent: Other Council Present: Others Present: Presenters: Agenda: FEBRUARY 10, 2025 4:00 P.M. Troy Warner*, Karen L. White, Ophelia Gooden-Rodgers, Sherry Bolden-Simpson None Canneth Lee, Rachel Tomas Morgan Bianca L. Tirado, Elivet Quijada-Navarro, Matthew Neal, Bob Palmer Joseph Molnar, Mark Bemenderfer, Caleb Bauer Bill No. 25-09 -Confinning Resolution - Vacant Building Tax Abatement for 635 South Main Street Bill No. 25-10 -Confirming Resolution - Real Property Tax Abatement for 445 North Sheridan Street Bill No. 25-11 -Confinning Resolution - Personal Property Tax Abatement for 445 North Sheridan Street Bill No. 25-12 -Resolution Approving a Certain Declaratory Resolution for the River West Development Area Adopted by the South Bend Redevelopment Commission Bill No. 25-13 -Confirming Resolution - Real Property Tax Abatement for 225 and 229 South Michigan Street Members marked with an asterisk (*) are in virtual attendance. Please note the attached link for the meeting recording: https://docs.southbendin.gov/WebLink/browse.aspx?dbid=0&mediaid=391278 INTEGRITY I SERVICE I ACCESSIBILITY Matthew Neal D EP\.JfY 0TY 0..ERK / D IRECTOR OF POLICY Margaret Gotsrh D IRECTOR OF SPEGAL PROJECTS EXC ELLENCE ACCO UNTABILITY INNOVATION ! INCLUSION EMPOWERMENT 455 County-City Building i 227 W Jefferson Blvd. I South Bend, Indiana 46601 Ip 574.235.9221 i f. 574.235.9173 1 www southbendin.gov CITY OF SOUTH BE D I OFFICE OF THE CITY CLERK Committee Vice Chair Karen White called to order the Community Investment Committee meeting at 4:00 p.m. Bill No. 25-09 -Confirming Resolution -Vacant Building Tax Abatement for 635 South Main Street Joseph Molnar, Assistant Director of Growth and Opportunity, with offices on the 14th floor of the County-City Building, stated that Bill No. 25-09 is a two-year (2) vacant building tax abatement for property located at 635 South Main Street. The building was constructed as the headquarters of Studebaker in the early twentieth (20th) century. The primary objective of the project is to stabilize the building, to preserve the building, and to position the building for future development. The project will include structural stabilization and environmental remediation, with a total investment of nine hundred and twenty thousand dollars ($920,000). Committee Member Sherry Bolden-Simpson requested information regarding plans for the building's future use. Kevin Smith, petitioner, 326 West South Street, South Bend IN 46601 , stated that the current plan is to retain the historicity of the building. There is not currently a set plan for future use. Committee Vice Chair White held the public hearing and nobody spoke. Committee Member Bolden-Simpson moved to send Bill No. 25-09 to the Full Council with a favorable recommendation, which was seconded by Committee Member Ophelia Gooden- Rodgers and carried by a vote of four ( 4) ayes. Committee Chair Troy Warner -Aye Committee Vice Chair Karen L. White -Aye Committee Member Ophelia Gooden-Rodgers -Aye Committee Member Sherry Bolden-Simpson -Aye Bill No. 25-10 -Confirming Resolution -Real Property Tax Abatement for 445 North Sheridan Street Bill No. 25-11 -Confirming Resolution -Personal Property Tax Abatement for 445 North Sheridan Street Committee Member Bolden-Simpson moved to hear Bill Nos. 25-10 and 25-11 together, which was seconded by Committee Member Gooden-Rodgers and carried by a vote of four (4) ayes. Committee Chair Troy Warner -Aye Committee Vice Chair Karen L. White -Aye Committee Member Ophelia Gooden-Rodgers -Aye Committee Member Sherry Bolden-Simpson -Aye Mark Bemenderfer, Manager of Business Development, with offices on the 14th floor of the County-City Building, stated that Bill No. 25-10 is an eight-year (8) real property tax abatement for property located at 445 North Sheridan Street and Bill No. 25-11 is a five-year (5) personal property tax abatement for property located at 445 North Sheridan Street. Great Lakes Capital (GLC) Sheridan is the property owner; however, GT A Containers will be the tax abatement recipient and beneficiary. The project will create fifteen ( 15) new full-time jobs, and the total EXCELLE NCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 455 County-City Building 1227 W Jefferson Blvd. I South Bend, Indiana 46601 Ip. 574.235.9221 1 f. 574.235.91731 www.southbendin.gov ;:·~ "•i... ~ ..... ; CITY OF SOUTH BE D I OFFICE OF THE CITY CLERK investment will be fourteen million two hundred thousand dollars ($14,200,000). Isaac Hall, Great Lakes Capital, 7410 Aspect Drive, Granger IN 46530, stated that the project will redevelop a currently underutilized site into a Class A industrial facility. Igor Popov, Chief Executive Officer of OTA Containers, 4201 Linden Avenue, South Bend IN 46619, stated that this development will allow for the expansion of GT A Container's operation in South Bend without the need to relocate. Committee Vice Chair White held the public hearings and nobody spoke. Committee Member Bolden-Simpson thanked the petitioner. Council President Canneth Lee thanked the petitioner. Committee Member Gooden-Rodgers moved to send Bill No. 25-10 to the Full Council with a favorable recommendation, which was seconded by Committee Chair Warner and carried by a vote of four ( 4) ayes. Committee Chair Troy Warner -Aye Committee Vice Chair Karen L. White -Aye Committee Member Ophelia Gooden-Rodgers -Aye Committee Member Sherry Bolden-Simpson -Aye Committee Member Bolden-Simpson moved to send Bill No. 25-11 to the Full Council with a favorable recommendation, which was seconded by Committee Chair Warner and carried by a vote of four ( 4) ayes. Committee Chair Troy Warner -Aye Committee Vice Chair Karen L. White -Aye Committee Member Ophelia Gooden-Rodgers -Aye Committee Member Sherry Bolden-Simpson -Aye Bill No. 25-12 -Resolution Approving a Certain Declaratory Resolution for the River West Development Area Adopted by the South Bend Redevelopment Commission Caleb Bauer, Executive Director of Community Investment, with offices on the 14th floor of the County-City Building, stated that Bill No. 25-12 establishes a new tax increment financing (TIF) allocation area to support the River Walk development. The Redevelopment Commission approved a development agreement with the Indiana-based development company J.C. Hart Company for a new two hundred and ninety-one (291) apartment unit complex development. The development includes three hundred and ninety-eight (398) parking spaces and a minimum private investment of sixty-one million five hundred thousand dollars ($61,500,000). Bill No . 25- 12 will create a TIF allocation area specifically for the parcel outlined in the resolution. The project will return to Council regarding bond ordinances in March should Bill No. 25-12 pass. The property tax increment generated by the development will be used to cover the debt service on the bonds. No City cash or existing TIF revenues need to be appropriated for this incentive, as only future property tax incremental revenues will be utilized. The project's infrastructure, construction, and demolition would commence later this year through 2028. Todd May, Vice President of Development at J.C. Hart, 805 City Center Drive, Carmel IN 46032, stated that J.C. Hart is an Indiana-based company and believes in long-term ownership. J.C. Hart EXCELLENCE ACCO UNTABILITY INNOVATION INCLUS ION EMPOWERM ENT 455 County-City Building 1227 W Jefferson Blvd. I South Bend, Indiana 46601 Ip. 574.235.9221 If. 574.235.91731 www.southbendin.gov (~ CITY OF SOlITH BEND I OFFICE OF THE CITY CLERK manages more than six thousand seven hundred and fifty (6,750) multifamily units within Indiana and Ohio. Council Vice President Rachel Tomas Morgan requested information regarding project based TIF. Caleb Bauer stated that this is South Bend's first (!51) project based TIF. Project based TIFs does not impact the City's credit rating, and ultimately the developer carries all the risk. Many other cities in Indiana utilize project based TIFs. Phil Faccenda, Barnes and Thornburg, 201 South Main Street, South Bend, IN 46601 , stated that project based TIFs are common throughout Indiana. Council President Lee requested information regarding the proposed parking garage. Chandler Sturgis, J.C. Hart, 805 City Center Drive, Carmel, IN 46032 stated that the parking garage will be for Crowe employees and tenants; the new street parking spaces will be for public use. Committee Member Gooden-Rodgers requested information regarding the construction team. Chandler Sturgis stated that part of their agreement with the City requires them to make best efforts to use local labor. J.C. Hart has already been in contact with the Laborers Union. Committee Vice Chair White held the public hearing, and nobody spoke. Committee Chair Warner moved to send Bill No. 25-12 to the Full Council with a favorable recommendation, which was seconded by Committee Chair Warner and carried by a vote of four (4) ayes. Committee Chair Troy Warner -Aye Committee Vice Chair Karen L. White -Aye Committee Member Ophelia Gooden-Rodgers -Aye Committee Member Sherry Bolden-Simpson -Aye Bill No. 25-13 -Confirming Resolution -Real Property Tax Abatement for 225 and 229 South Michigan Street Joseph Molnar, Assistant Director of Growth and Opportunity, with offices on the 14th floor of the County-City Building, presented Bill No . 25-13. Bill No. 25-13 is an eight-year (8) real property tax abatement for Center City Place which has been vacant for the last decade. Locally based development company RSPG Global Consulting, LLC purchased Center City Place and will be spearheading the rehabilitation project. The project will consist of restoring the historic fa;;ade , completing extensive repairs, opening a hotel, and bringing in active businesses. The total estimated investment is five million eight hundred and twenty-five thousand dollars ($5 ,825,000). Christina Miller, petitioner, 1311 Sunnymede Avenue, South Bend IN 46615, stated that she is happy to answer any questions. Committee Vice Chair White held the public hearing, and nobody spoke. EXC ELLE NCE I ACCOUNTABILITY INNOVATION INCLUSION I EMPOWERMENT 455 County-City Building 1227 W Jefferson Blvd. I South Bend, Indiana 46601 Ip. 574.235.9221 If. 574.235.9173 1 www.southbendin.gov f9 CITY OF SOUTH BEND I OFFICE OF THE CITY CLERK Committee Chair Warner moved to send Bill No. 25-13 to the Full Council with a favorable recommendation, which was seconded by Committee Vice-Chair White and carried by a vote of four (4) ayes. Committee Chair Troy Warner -Aye Committee Vice Chair Karen L. White -Aye Committee Member Ophelia Gooden-Rodgers -Aye Committee Member Sherry Bolden-Simpson -Aye With no further business, Committee Vice Chair Karen White adjourned the Community Investment Committee meeting at 4:51 p.m. Respectfully Submitted, Troy Warner, Committee Chair NOTICF. FOR HEARING AND SIGHT IMPAIRED PERSONS Auxiliar}' Aid or Other Services may be Available upon Request at No Charge. Please 1,:ivc Reasonable A1h<ancc Rc11ucs1 when Possible EXCELLENC E I ACCOUN TABILITY [ INNOVATI ON [ INC LUSION I EMPOWERMENT 455 County-City Building J 227 W. Jefferson Blvd. I South Bend, Indiana 46601 Ip. 574.235.9221 If. 574.235.9173 1 www.southbendin.gov