HomeMy WebLinkAbout06-24-13 Community InvestmentCOMMUNITY INVESTMENT
June 24, 2013 3:30 P.M.
Committee Members Present: Gavin Ferlic, Henry Davis, Valerie Schey, Dr. Fred Ferlic
Citizen Members Present: Patrick Mullin
Other Council Members Present: Tim Scott, Dr. David Varner, Oliver Davis, Karen White, Derek
Dieter
Others Present: Kathryn Roos, Mark Neal, Erin Blasko, Chuck Bulot, Brad Mosness
( Abonmarche), Scott Ford, Dennis Schwartz
Agenda: - Bill No. 13 -41 Reconfirming Abatement - Tampico
- Bill No. 13 -42 Tax Abatement — Tampico Phase II
Two bills were scheduled for hearing before Gavin Ferlic's Community Investment Committee. Both bills
were requests for residential tax abatement. The first item bill 13 -41 was a request for a one year
extension to the original five year abatement granted to Tampico Development for the Crescent Oaks
subdivision phase I. The development has stalled because the primary builder Weiss Homes declared
bankruptcy. The development was reconfigured to complete the subdivision with Dennis Schwartz now
the primary investor wanting to complete the project. In Phase I only one (1) lot of the original thirty
(30) remain to be sold.
Bill 13 -42 is an initial request for a five -year residential abatement for Phase II of the Crescent Oaks
subdivision originally scheduled for eighty (80) lots, the project has been scaled back to thirty (30) lots,
four (4) of which have been sold.
Brad Mosness from Abonmarche Consultants, Inc. made the presentation for Tampico. He described
the project and the reorganization of Tampico following the Weiss Homes debacle.
The Council expressed concerns about the Weiss Homes involvement given their company's financial
problems. Councilmember Tim Scott asked for a letter from Tampico confirming Weiss Homes was now
out of the picture. Brad Mosness said he would have that letter by the 7:00 meeting. Ultimately both
bills received favorable forwarding on motions by Henry Davis seconded by Valerie Schey with full
support by all.
Gavin adjourned the meeting at 3:39 P.M.
Respectfully Submitted,
Gavin Ferlic, Chairperson
Community Investment Committee