Laserfiche WebLink
COMMUNITY INVESTMENT <br />June 24, 2013 3:30 P.M. <br />Committee Members Present: Gavin Ferlic, Henry Davis, Valerie Schey, Dr. Fred Ferlic <br />Citizen Members Present: Patrick Mullin <br />Other Council Members Present: Tim Scott, Dr. David Varner, Oliver Davis, Karen White, Derek <br />Dieter <br />Others Present: Kathryn Roos, Mark Neal, Erin Blasko, Chuck Bulot, Brad Mosness <br />( Abonmarche), Scott Ford, Dennis Schwartz <br />Agenda: - Bill No. 13 -41 Reconfirming Abatement - Tampico <br />- Bill No. 13 -42 Tax Abatement — Tampico Phase II <br />Two bills were scheduled for hearing before Gavin Ferlic's Community Investment Committee. Both bills <br />were requests for residential tax abatement. The first item bill 13 -41 was a request for a one year <br />extension to the original five year abatement granted to Tampico Development for the Crescent Oaks <br />subdivision phase I. The development has stalled because the primary builder Weiss Homes declared <br />bankruptcy. The development was reconfigured to complete the subdivision with Dennis Schwartz now <br />the primary investor wanting to complete the project. In Phase I only one (1) lot of the original thirty <br />(30) remain to be sold. <br />Bill 13 -42 is an initial request for a five -year residential abatement for Phase II of the Crescent Oaks <br />subdivision originally scheduled for eighty (80) lots, the project has been scaled back to thirty (30) lots, <br />four (4) of which have been sold. <br />Brad Mosness from Abonmarche Consultants, Inc. made the presentation for Tampico. He described <br />the project and the reorganization of Tampico following the Weiss Homes debacle. <br />The Council expressed concerns about the Weiss Homes involvement given their company's financial <br />problems. Councilmember Tim Scott asked for a letter from Tampico confirming Weiss Homes was now <br />out of the picture. Brad Mosness said he would have that letter by the 7:00 meeting. Ultimately both <br />bills received favorable forwarding on motions by Henry Davis seconded by Valerie Schey with full <br />support by all. <br />Gavin adjourned the meeting at 3:39 P.M. <br />