12-18-95 Community & Economic Development

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Committee Report Community and Economic Development December 18, 1995 Page 2 Mr. Michael D. Kaser Vice President of Finance and Administration for Lock Joint Tube Inc. the petitioner then made a further presentation. Following further discussion, Council Member Zakrzewski made a motion, seconded by Council member Washington that Resolution No. 95-106 be recommended favorably to Council.The motion passed. The Committee then reviewed Resolution No. 95-115 which is a personal property tax abatement request for the property located at 1215 South Walnut Street. Mr. Mike Beitzinger reviewed the memorandum dated December 11, 1995 which concluded that the petitioner meets the personal property tax abatement requirements(copy attached). Mr. Tom Hoffman made the presentation on behalf of the petitioner. He noted that the petitioner Lock Joint Tube Inc. were before the Council in 1993 requesting an abatement. He noted that a consolidation is currently taking place and with the abatement requested tonight that the total new equipment cost would be approximately $2.5 million dollars. Following discussion, Council Member Washington made a motion, seconded by Council Member Zakrzewski that Resolution No. 95-115 be recommended favorably to Council. The motion passed. At this point Council Member Kelly had to leave the meeting and Vice Chairperson Council Member Cleo Washington took over the meeting. The next item on the agenda was to review Resolution No. 95-116 which is a five year real residential property tax abatement for Emmerson Forest, LLC. Mr. Mike Beitzinger reviewed a memorandum dated December 12, 1995 which concluded that the petitioner meets all of the requirements for a five real property tax abatement request(copy attached). Mary Booth and Bob Luan provided additional information to the Committee outlining the Emmerson Forest Standard Features, floor plans of the proposed homes, and additional information(copy attached).They noted that there would be 220 lots involved and that the Building Commissioner has approved the plans. It was noted that the homes would have a value of between $85,000 and$95,000 each. In response to a question raised by Council Member Zakrzewski it was noted that an extension would be needed in the future if all 220 lots would not be developed within the time period involved. Mr. Beitzinger noted that the property tax abatement covers all of the properties. Following further discussion, Council Member Zakrzewski made a motion, seconded by Council Member Puzzello that Resolution No. 95-116 be recommended favorably to Council.The motion passed. The Committee then reviewed Resolution No. 95-117 which is a personal property tax abatement request for the property located at 2303 North Bendix Drive. Mr. Mike Beitzinger reviewed the memorandum dated December 12, 1995 which concluded that the petitioner meets the requirements for a five year personal property tax abatement.