HomeMy WebLinkAbout11-23-15 Community Investment COMMUNITY INVESTMENT NOVEMBER 23,2015 3:30 P.M.
Committee Members Present: Gavin Ferlic, Henry Davis Jr, Dr. David Varner, Dr. Fred Ferlic
Citizen Members Present: Bob Emery(AB), Pat Mullin (AB)
Other Council Present: Tim Scott(XAB),Valerie Schey (XAB),Oliver Davis(XAB),
Karen White, Derek Dieter
Others Present: Chris Huff, Dave Smith, Paul Kite,Chris Fielding, Brock Zeeb,
Shawn Peterson, Mike Danch, Phil Facenda Jr.
Agenda: Bill 15-101 Designating Tax Abatement
RDistrict One, LLC 635 S. Lafayette Blvd.
10 Year Real Property
With all members of the Community Investment Committee present, Chair Gavin Ferlic called the
meeting to order with one bill scheduled for consideration.
Bill 15-101 was a petition for a 10 year real property tax abatement for significant investment in the
adaptive re-use of buildings once part of the Studebaker Complex. More specifically the petition would
help facilitate a$14,500,000 investment to adaptively re-use 220,000 square feet of space in buildings
112 and 113. The space would be adapted for educational innovative office, mechanical and advanced
manufacturing.
Shawn Peterson representing the petitioners further described the project.
Chris Fielding from the CI Department presented the financial implications on the local economy in
terms of potential jobs and tax revenues.
Both Dave Smith who is relocating his business to the property and Paul Kite an Indianapolis based
developer were present to answer questions.
After brief discussion Dr.Varner made a motion to forward favorably. Dr. Ferlic seconded and all
supported.
Gavin Ferlic adjourned the meeting at 3:47 P.M.
Respectfully Submitted,
Gavin Ferlic, Chairperson
Community Investment Committee
1