02-27-17 Council Minutes - Laserfiche WebLink

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PV REGULAR MEETING FEBRUARY 27, 2017 residential uses along with a street -level public space. Before you is a request for a five (5) year abatement, after which the annual tax generation would be roughly $94,000 annually. The City investment for this project would be roughly nine percent (9 %). I Mark Neal, Gilbert Development, 1329 East Washington Street, outh Bend, IN, served as the petitioner of this bill. Mr. Neal stated that the building was built n 1926 as an industrial manufacturing building. He recounted a brief history of the building, explaining that eventually the original business consolidated and no longer needed the building, so the petitioner purchased it in 2016 with the intent of revitalizing and repurposing the building. He stated that it is about 33,000 square feet. Mr. Neal presented to the Council and public various images of the property. Referring to the Gates automobile lot adjacent to the property in question, Mr. Neal stated, They have a lease that runs to end of this year, 2017. They have an option for one (1) more two (2) year renewal that can take them to June of 2019. We have worke i with the Redevelopment Commission to acquire that land in the hopes that we can work something out, so that we can in fact complete this first phase —with some landscaping that we think you will find attractive —as well as a later Phase Two (2) over the next four (4) or five (5) years. Mr. Neal presented to the Council and public renderings of the building. He stated, We believe this will be a crossroads. We think it is an important part of fixing some of these broken, issing teeth in our downtown. So, we come before you with a building that we think is going t be a pride of downtown. We are seeking both retail and office tenants. For retail, we are look g at restaurants and also looking at some service businesses —we're thinking hair salon, barber shop, maybe some other kind of retail. The spaces are not that large, but we think that it will be important to the community, as we look to serve our community as we continue to grow and expand our downtown. This abatement is critical to the finances of the proje t. Councilmember John Voorde asked if Mr. Neal knew the name Df the bank adjacent to the building in question. Mr. Neal responded, I don't, but I know it was built in 1923. This being the time heretofore set for the Public Hearing on the :,Lbove bill, proponents and opponents were given an opportunity to be heard. There were none from the public wishing to speak in favor of or opposition to this bill. Councilmember Gavin Ferlic made a motion to adopt Bill No. 17 -09. Councilmember Jo M. Broden seconded the motion which carried by a roll call vote of eight (8) ayes. BILLS FIRST READING 11 -17 FIRST READING ON AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA AMENDING THE LEGAL DESCRIPTION A D MAP WITHIN ORDINANCE N 10165 -12 AS PREVIOUSLY AMENDEDTO E PAND THE BOUNDARIES OF THE EXIST G RIVERFRONT DEVELOPMENT IPROJECT AREA UNDER IND. CODE 7.1- 3 -20 -1 Councilmember Gavin Ferlic made a motion to send Bill No. 1 I -17 to the Community Investment Committee for the meeting on March 13th, 2017. Cc ancilmember John Voorde seconded the motion which carried by a voice vote of eight (8) yes. UNFINISHED BUSINESS 16