04/23/07 Community and Economic Development Committee Minutes (2)

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Community and Economic Development Committee April 23, 2D07 Page 3 better than the origins[ one proposed. He commended the work of Council Member Dieter and Council President Rouse in developing a winlwin solution for their expansion. Council Member Pfeifer added that Stanz was very involved in providing donations when she was working at the treatment center. Council Member Dieter requested favorable action on Stanz, noting that they have been a long-term corporate citizen that works for the betterment of the community. Council Member White made a motion, seconded by Council Member Puzzello that Substitute Bill No. 07-61 be recommended favorably to Council. The motion passed. Bill No, 07-62: A Resoltuion Authorizin the Ma or to Submit an A lication to the Indiana Finance Authorit for a Sti elated Remediation Grant of u to $100,000 for Property Located at 101 North Michigan Street: Council Member Dieter called for a formal presentation on Bill No. 07-62 (copy attached). Ann E. Kolata, Senior Redevelopment Specialist with the Community and Economic Development Department, made the formal presentation. She noted that the resolution would authorize the city to submit an application for a Stipulated Remediation Grant. It would be presented to the lndiana Finance Authority, as part of the Indiana Brownfields Program. The grant would be for asbestos abatement for the property located at 101 North Michigan Street, with the regulations requiring that the City be the grant applicant. The total cost of the project called the "All American Plaza" is projected to be $7 million. In response to a question from Dr. Varner, Ms. Kolata stated that she believed that Brad Toothacher was the local agent and contact person for the project. In response to a question from Council President Rouse, Ms. Kolata stated that she does not see remediation of this type being a big problem. The remediation would be for the pipe wrapping and wrapping with the heating and air conditioning units. Following discussion, Council Member Puzzello made a motion, seconded by Council Member Kelly that Bill No. 07-62 be recommended favorably to Council. The motion passed. Proiect Future Update by Patrick McMahon: Council Member Dieter welcomed the Executive Director of Project Future to the committee.