02/12/07 Community and Economic Development Committee Minutes

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Community and Econoic ~avalopme~t C~~n~nit~ae February ~, X00? Pale 3 Bill No. ~~-~8 ~- ear Personal Pro ~ Tax Ahatemer~t Re oast of ohafer ear'Vl~orks lnc, for 4~'~~ Nitz Parka Council Member Dieter called for presentation on Bill No. D7~ far a five ~b~ year ersonal ra arty tax abatement request of Schafer Gear vlforks, Inc, located at ~47g~ ~ ~~ Nit~tz Parkray. Bill Schalliol of the Department of Community and Bconomic Development revievued the Janus 15, ~~gl multi~page report from his department copy attached}. I-le noted that rY the cast of the nevu equipment « projected to be 843,og0, Total taxes pard over the ~~ ear errod v~rould be ,~~~; and the an~aunt of taxes requested to be abated v~rould y ~ ~, be $51,~gi The report concluded that the petrtioner qual~f~e far the requested b-}rear ersonal ra art tax abatement under Sectian -84~ addressing "Tangible Personal p ~ ~ Property Tax Abatement" of the au~~ ~erraf l~r~~cipal Code. tanleLvr(/ J. Blenke, Executive 11ice~Preident of Schafer Gear vl~orks, Inc. made the Y ~ farrnal resenttion. Ile Hated that the company plans to purchase o ~~ pieces of p e u~ n~ent ~rh~ch consist of a gear gr~nd~ng machine ~vith autor~atran and a hob q p char ever. One {~~ neuv, permanent, full-time fob ~rould be created vuhrch ~rould have a p sale of 4,30; and the project uwrould assist in maintaining the 7 existing full-time fobs v~hich have an annual payroll of $~,72~,~03. U on uetionin by Council Member Pfeifer, it gas noted that Schafer Gear vllarks, p q l Inc. rnaved from the former Tepe~s locatian on Main Street to their current location on imtz Park~va . Although jab goals have Hat arrays been met in the past due to ]r outside rr~rket forces; Mr~ Blenke stated that he has "no doubt" that the nevwr hire v~ould be hired. He added that the efficiency of the equipment in question and employment retention is also critical to remain competitive. Council MemberVl~hite made motion, seconded by Council Member Puzello that Bill No. 07-8 be recommended favorably to Cauncil. The motian passed. Bill ~Vo~ ~~=~9 ~ D- ear Read Pro art Tax Abateet Re oast of Prairie art~nents ~leusin Partners LP for the l~aoat ~and'~Ilest of Brr~o~s Pizza on the south side of Paairie Arrenue Council Member Dieter called far presentation on Bill No. 079 uwrhich is a request for a 0- ear real property tax abatement request of Prairie Apartments I~lousir~ Partners, ~ y ~ LP to be located on the vacant land immediately vuest of Bruna~s Pizza on the south side of Praire Avenue vest of Locust Load and east of the by-pass.