11-27-06 Personnel & Finance - Laserfiche WebLink

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November 27, 2flo6 Community and Economic Qeveiopment Committee Meeting Minutes Page 2 the Common CounciP' be added right after the word "Commission" to definitions (A)(1) and (A)(3) on page 1, (A}(11 } on page 4, and (A)(33) on page 4. The motion passed. There was no public input in favor or in opposition to the Bill. Council Member Kirsits then made a motion, seconded by Council Member Kuspa that Bill No. 79-06 as amended be recommended favorably to Council. The motion passed. Bill No. $1-06 $$,500,000 Economic Development Revenue Bonds: Council Member Kelly then called for a presentation on Bill No. 81-06 which would authorize the issuance and sale of economic development bonds not to exceed $8,500,000 for the PEI/Genesis Project. Mr. Alan Feldman of the Barnes and Thornburg law firm with offices in downtown South Bend made the formal presentation as the bond counsel for the petitioner. He no#ed that Kenneth Fedder, Bill Panzica and Larry Horvath were also present. He noted that the bonds would permit PEIIGenesis to more than double the square footage of their facilities at Cleveland Road. The company makes electrical connectors and cable accessories. Mr. Horvath added that currently they have 62,000 square feet and plan to expand to 144,000 square feet on twenty {20) acres, with the potential of growing up to 400,000 square feet. The have 140 employees and plan to add twelve {12) full-time employees and some additional part-time personnel. They are the only distributor in North America for PEIIGenesis, and have been in South Bend for the past fifteen (15} years. Mayor Luecke spoke in favor of the project, noting that it was a sizable investment. Council Member Kuspa then made a motion, seconded by Council Member Kirsits that Bill Na. 81-06 be recommended favorably to Council. Bill No. D6-129 4-Year Real Property request for 33D0 North Kenmore Street (Elkhart Plastics, Inc.k Council Member Kelly then called for a presentation on Bill No. 06-129 which would designate 3300 North Kenmore as an economic revitalization area for the purposes of a 4-year real property tax abatement for Elkhart Plastics, Inc. Bill SchalGol stated that the petitioner cannot be Iocated.Council Member Kuspa then made a motion, seconded by Council Member Kirsits that Bill No. 06-129 be continued to the December 11t" Council meeting. The motion passed.