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CITY OF SOUTH BEND OFFICE OF THE CLERK home. We are going to be using Holladay Construction Group as our general contractor. Our plan right now is a July groundbreaking with delivery in the first(1St)quarter of next year. The building is being designed for both manufacturing and distribution uses. So, it will be flexible to try and accommodate as many users as possible. From a tax standpoint, Dan touched on it a bit, but these will be net lease agreements. So,operating expenses,including taxes,are typically paid by tenants. So, the benefit is really being seen by the end user and operator. So, it helps us offset some of that risk because it is a big investment for a building that has a lot of vacancy. It helps us offset that and it makes the building more attractive to that end user. Committeemember Oliver Davis asked, How do you think this helps us in terms of making our City more marketable than cities in our region like Mishawaka or Elkhart? Mr. Phair replied, By having this space available, it helps shorten people's timeframe on when they can get up and operating. So, for somebody who is sort of landlocked, Chase Plastics was a good example. They had a little bit of land left but for somebody that didn't have that available, they would have to look elsewhere. This provides a landing spot for someone looking for space. I'm not aware of Mishawaka having any spec buildings. I think Elkhart had one(1)but I think that is filled. So, it does make us competitive having these spaces. Committeemember Davis followed up, So it puts us in a league? Mr. Phair replied, Sure. Committee Chair Ferlic opened the floor to members of the public wishing to speak in favor of or in opposition to these items of legislation. There were none. He then turned the floor back to the Committee for further comment or main motion. Committeemember Davis made separate motions to send Bill Nos. 19-18, 19-20, 19-22, 19-24, 19- 26, 19-28, and 19-30 all to the full Council with favorable recommendations. Councilmember Sharon L. McBride seconded these motions which carried by a voice vote of six (6) ayes*. *(Committeemember Copelin abstained from voting on Bill No. 19-26) With no further business, Committee Chair Ferlic adjourned the Community Investment Committee at 4:24 p.m. Respectfully Submitted, Gavin Ferlic, Committee Chair EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 455 County-City Building 227W.Jefferson Bvld South Bend,Indiana 46601 p 574.235.9221 f 574.235.9173 TTD 574.235.5567 www.southbendin.gov 11