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REGULAR MEETING SEPTEMBER 12, 2016 Councilmember Gavin Ferlic made a motion to adopt Bill 16 -70. Councilmember Dr. David Varner seconded the motion which carried by a roll call vote of nine (9) ayes. Councilmember Oliver Davis made a motion to hear both Bill 16 -72 and Bill 16 -74 together for purposes of public hearing. Councilmember Randy Kelly seconded the motion which carried by a voice vote of nine (9) ayes. 16 -72 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3722 FOUNDATION CT, SOUTH BEND, IN 46628 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (6) SIX YEAR REAL PROPERTY TAX ABATEMENT FOR IMAGINEERING ENTERPRISES, INC. 16 -74 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3722 FOUNDATION CT, SOUTH BEND, IN 46628 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (5) FIVE YEAR PERSONAL PROPERTY TAX ABATEMENT FOR: IMAGINEERING ENTERPRISES, INC. Councilmember Gavin Ferlic, Chair of the Community Investment Committee, reported that they met and send both bills forward with a favorable recommendation. Sarah Heintzelman, Community Investment with offices on the 14th Floor of the County -City Building, served as the presenter of this bill. This is a real and personal property tax abatement. They are looking to make $3.5 million in private investment. The project will create $333,000 worth of new taxes and of that $126,000 would be abated. The project will create twenty -five (25) new jobs with an annual payroll'of over $750,000. Joseph Rowan, CFO at Imagineering Enterprises, served as the petitioner of this bill. In the past six (6) years we went from seventy -five (75) employees and we are now at one - hundred and thirty -five (13 5) employees. This investment and expansion will bring even more jobs to the area. They estimate in the next five (5) years they can add twenty -five (25) jobs with this expansion and these abatements will help fund those goals. There were no questions from Council. No one from the public spoke either in favor of or in opposition to the two (2) bills. Councilmember Gavin Ferlic made a motion to adopt Bill 16 -72. Councilmember Karen White seconded the motion which carried by a roll call vote of nine (9) ayes. Councilmember Karen White made a motion to adopt Bill 16 -74. Councilmember Randy Kelly seconded the motion which carried by a roll call vote of nine (9) ayes. Councilmember Gavin Ferlic left the meeting at 8:21 p.m. Quorum now stands at eight (8) present. BILLS FIRST READING 10