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REGULAR MEETING October 22, 2018 Ms. Meyer replied, If it is a senior, like a grandparent, who is taking care of a child that spends a significant amount of time in the home, significant time is defined by this application as sixty(60) total hours a year, that house would be eligible. Councilmember Oliver Davis interjected, Ok so the focus of everything else is having the child in that house. That is the key. If they just have an elderly person in that house that will not necessarily qualify for this kind of a grant. Ms. Meyer clarified, It can qualify but it would not be ranked as a priority in terms of number of houses to be done. Councilmember Tim Scott requested Ms. Meyer to recap the Council, via email, on who all to contact for this money. Councilmember Oliver Davis requested that information to be put on the South Bend Common Council website. Councilmember Jo M. Broden requested a fact sheet regarding the relevant pieces and agencies. This being the time heretofore set for the Public Hearing on the above bills, proponents and opponents were given an opportunity to be heard. None from the public wished to speak in favor of or opposition to these bills. Councilmember Gavin Ferlic made a motion to adopt Bill No. 18-62. Councilmember Karen White seconded this motion which carried by a roll call vote of nine (9) ayes. Councilmember Gavin Ferlic then made a motion to adopt Bill No. 18-63. Councilmember Jake Teshka seconded this motion which carried by a roll call vote of nine (9) ayes. 18-64 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 4836 WESTERN AVE, SOUTH BEND, IN 46619 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (7) SEVEN-YEAR REAL PROPERTY TAX ABATEMENT FOR NILKANTH, LLC Councilmember Gavin Ferlic, chair of the Community Investment Committee, reported that they met this afternoon and send this bill forward with no recommendation, due to the lack of quorum. Austin Gammage, Business Development Manager for the Department of Community Investment with offices located on the 14th floor of the County-City Building, South Bend, IN, served as the presenter for this bill. Mr. Gammage stated, Nilkanth, LLC is proposing a Dairy Queen Grill 'N Chill off of Western Avenue. Just to touch on some highlights of the project, (referencing a presentation which is available in the City Clerk's Office) a big part of it is bringing more jobs to the west side of South Bend. We are looking at over $1.6 million of investment between land, property and equipment. Currently the parcel that we are looking at has nothing and there are no taxes being generated. Over ten (10) years, in just real estate property taxes, we are looking at $126,000 of taxes being generated. The parcel size is around one (1) acre. They look to construct a 3,000 square foot building. The timeframe for the build-out is roughly three (3) months. The petitioner would like to get started right away but is still working with bids. Again, over $1.6 million will be invested. As we look at the seven (7) year real estate phase-in property tax abatement, again, we are getting zero (0) taxes on the parcel at this time. $90,000 will be abated over the seven(7) years but they will also be paying over$60,000 over that seven(7) year period. Between the real estate property taxes,the new employment and the taxes from that,we are looking at over$219,000 of taxes over the course of ten(10)years. As we look at the jobs, we are looking at twenty(20)new full-time jobs and twenty-five(25)part-time jobs. This will be year-round. One (1) of the great things about it is in the summer time there should be more jobs created just with the influx of the industry. That area of town, we think it will be awesome. The high school is right there and this may be a lot of students' first (1St) opportunity to work. There are people from the 18