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REGULAR MEETING <br />MAY 26, 2015 <br />Council Attorney Cekanski- Farrand requested a motion to accept both substitute bill 15 -31 and <br />15 -32. So moved by Councilmember Oliver Davis. Councilmember Mr. Ferlic seconded the <br />motion which carried by a voice vote of seven (7) ayes. <br />Councilmember Gavin Ferlic, Chairperson, Community Investment Committee met this <br />afternoon and send bill 15 -31 and 15 -32 to the full Council favorably. <br />Presenter: Chris Fielding, 14" Floor Dept. of Community Investment — We have two bills before <br />you. One is for a vacant building of the former Football Hall of Fame that will be built and the <br />other on the Jefferson lot to be continuous as one building. The company plans to move their <br />Corporate headquarters to the top of the building as well. The value of the two (2) year <br />abatement to be paid over the life of the abatement $65,961. Total Taxes to be abated $107,800, <br />and total taxes to be paid $86,900 a year moving forward. This will turn the Hall of Fame to a <br />tax paying entity. For the Jefferson Lot we offered a (9) nine -year tax abatement, the taxes to be <br />paid will be $1,464,000, total taxes to abated over the (9) nine -year period $945,000. In addition <br />it will create thirty -eight (38) new jobs. Total investment is between $9 and $12 million dollars. <br />Petitioner: A.J. Patel, 247 N. Dixie Way, South Bend— President & CEO of JSK Development <br />and Hospitality. <br />Councilmember Henry Davis, Jr. — I have a question for Mr. Fielding with the hotels downtown. <br />During a previous conversation there was a cap on the number of rooms that can be provided in a <br />given area. So how will this hotel affect others within this area? Chris Fielding replied the <br />hotels that operate downtown will work together to attract business to the Century Center. <br />Having the Century Center there will allow for two hotels to be attached which will allow for us <br />to host conferences of about 350 people. There are plans to remodel the Chase Towers and these <br />hotels will not have any bearing on each other. Councilmember Davis asked has the number <br />changed for us to grow at a higher level, what has occurred to expand our market? Chris <br />responded we are attracting more people to our community, and that buzz creates business. In <br />the past new construction hotels was not something we were looking at. We now have businesses <br />like Mr. Patel that are interested in investing millions in our market and investing another $7 <br />million on the Southside. I am pretty sure after seeing his portfolio he knows what he's doing. <br />Councilmember Oliver Davis asked where on the Southside. Mr. Patel responded on the comer <br />of Ireland and Michigan. Councilmember Davis responded welcome aboard. <br />This being the time heretofore set for the Public Hearing on the above bill, proponents and <br />opponents were given an opportunity to be heard. <br />Those wishing to speak in favor: <br />Samuel Brown, 222 E. Navarre St., South Bend— I represent Citizens United for a Better <br />Government. My only issue is that we already have the Chase Tower and it has never been done <br />right. Are we going to be able to accommodate them to being a growing part of South Bend or <br />will it be like the Hall of Fame? <br />Rebuttal: Chris Fielding — In terms of the Chase Tower this bill is not about the Chase Tower. <br />The Chase Tower is in the best economic stand point that it has been in years; not in a physical <br />standpoint. This is the first time we have had one owner for the Chase Tower there is a plan now <br />that allow for others to work with them with the receiver and titleholders out of the way. <br />There being no one present wishing to speak to the Council in opposition to this bill, <br />Councilmember Mr. Gavin Ferlic made a motion to adopt substitute version of 15 -31. <br />Councilmember Dr. Fred Ferlic seconded the motion which carried and the Resolution was <br />adopted by a roll call vote of seven (7) ayes. <br />0 <br />