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Tedd Schaffer, an Economic Development Specialist, with the Department of Community Development reviewed his report dated October 16, 2005 (copy attached). He stated <br /> that the company is in the lithography and printing industry ) stated <br /> equipment in the amount of$5,500,000 and $6,500,000. The etitio petitioner desires <br /> 3 <br /> tax abatements in the past and qualifies for a five(5) ( } <br /> Section 2-84.2 of the South Bend Municipal Code addressing "tangible personal abatement under <br /> abatement". P property tax <br /> Richard J. Deahl, an attorney with offices located at 100 North Michigan, Suite 600 <br /> downtown South Bend made the presentation along with Gary Belting, Vice-President in <br /> Finance for Mossberg&Company,Inc. rY eltmg, Vice-President of <br /> Mr. Deahl stated that the new equipment would assist the company in maintaining the <br /> quality standard and cost effectiveness. The equipment includes an offset printing high <br /> feixographic press, cutter, stitcher and related equipment. With this purchase, four 4 p ew, <br /> permanent, full-time jobs with a new annual payroll of$166,000. It would also help maina n <br /> 142 existing jobs who have an annual payroll of$7,670,000. <br /> There was no one from the public to speak in favor or in opposition to the Bill. <br /> Council Member Kirsits made a motion, seconded by Council Member Kuspa that Bil <br /> 05-125 be recommended favorably to Council. The motion passed. I No. <br /> Council Member PuzzeIlo then called for a report and presentation on Substitute Bill No. 05- <br /> which would designate the property commonly known as lots numbered 100 through 126 <br /> ur <br /> Ireland Woods Subdivision, Section Two, Part One as residentially distressed areas for 1ses <br /> of a five(5)year residential real property tax abatement for Ullery Development,LLC. poses <br /> Council Member Puzzello noted that this Bill had been "on again, off again, on again" for and asked for an update. g or this <br /> J. Bernard Feeney, of Lang, Feeney & Associates, Inc. with offices located at 715 <br /> Michigan Street in downtown South Bend made the presentation. He noted that the South <br /> and the City of South Bend have had ongoing discussions on an exchange of properties in petitioner <br /> area. The original bill contains some city-owned l� this <br /> seven (7) properties owned by the �'-owned properties. The substitute bill addresses the <br /> original petition. Today the Council be acting on the the sh�t (8) other properties in the <br /> lot numbers 100 through 106. to bill which addresses only <br /> Mr. Feeney added that the rim <br /> ago when Jack Hickey owned the ro p �Y plat was approved 15-20 years <br /> have confirmed that they are willing to trade properties.eThe seven(7)lots The involved rd today representatives <br /> have villas constructed on each of them ranging in price from $175,000 to $275,000. <br /> today would <br /> There was no one from the public to speak in favor or in opposition to the Bill. <br /> Following discussion, Council Member Kirsits made a motion, seconded by Council <br /> Member <br /> Kuspa that Substitute Bill No. 05-126 be recommended favorably to Council. The he motion <br /> October 24,2005 Community and Economic Development Committee Meeting Minutes <br /> -Page 2- <br />