05-23-2022 Common Council Meeting Minutes (Signed)

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REGULAR MEETING May 23, 2022 Vice President Niezgodski states Bill No. 19-22 has been moved and seconded. Made request for roll call. Clerk Dawn Jones responded with eight (8) ayes. Vice President Niezgodski stated that Bill No. 191922 has been adopted RESOLUTIONS 22-21 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, IN DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, IN, COMMONLY KNOWN AS INTERSECTION DYLAN DRIVE AND ADAMS RD. SOUTH BEND, IN 46628 AND ECONOMIC REVITALIZATION AREA FOR PURPOSES OF SEVEN (7) YEAR REAL PROPERTY TAX ABATEMENT FOR GLC PORTAGE PRAIRIE V LLC. Vice President Sheila Niezgodski requested recommendation. Committee Chair Lori Hamann stated Bill No. 22-21 comes to the Council with a full recommendation. Vice President Niezgodski requested petitioner. Caleb Bauer, Acting Executive Director of the Department of Community Investment, offices located on the 14`h floor of the County City Building proposed a real property tax abatement for real property at the intersection of Dylan Dr. and Adams Rd. Bower requests approval for a $15.3 - million -dollar private investment in a Spec Warehouse Building. This is a seven (7) year abatement program, and the approved plan will result $1.8 -million dollars in abated taxes with a net tax above six hundred and eighty-eight thousand dollars. ($688,000.00). Caleb Bower states property currently has a fifteen hundred dollars ($1,500.00) annual property tax. Bower states there is an anticipation of three hundred and sixty-seven thousand dollars ($367,000.00). in property taxes after the completion of the property. The property will have a total tax value of 1.8 million dollars with a seven (7) year tax abatement. Jeff Smoke, Great Lakes Capital, 112 W. Jefferson stated he appreciates the support from the Council Vice President Niezgodski requested questions from the Council. Councilmember Hamann inquired about the point systems used for the abatement property. Caleb Bauer stated the point system is utilized to determine the abatement. Councilmember Hamann stated the Community Investment Committee needs a more adequate tool to assess a spec building without a tenant. Caleb Bauer stated the estimated job counts are included from previous properties. It is challenging to come up with number of jobs without a tenant. The track record of GLC's previous projects is a contributing factor to the employment number. Councilmember Hamann stated there is still speculation around number of jobs being created. Caleb Bauer stated there is no tenant lined up for the building. Councilmember Hamann inquired about using a different form for this tax abatement property. Caleb Bauer states the form did determine the seven-year abatement. Bauer suggested seeing about adding categories to the tax abatement form. Councilmember Canneth Lee stated the current property taxes with the increase of property taxes after the abatement. Councilmember Lee stated it is a great use of land and opportunity. Councilmember Rachel Tomas Morgan inquired about conversations around perspective tenants. 4