07-14-14 Common Council Meeting Minutes

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REGULAR MEETING JULY 14,201 Councilmember Gavin Ferlic, Chairperson, Community Investment Committee sends this forward favorably. Brock Zeeb, Community Investment — Offices on the 14" floor- Designating resolution for development on lot 7 in Ignition Park, proposed two building will be built estimated investment of $12 million, total taxes abated $1.1 million, total taxes to be paid $1.5 million. Councilmember White, is this Catalyst marketing is that the same company? Mr. Brock responded that is not the same company. Presenter - Rich Deal- 100 N Michigan St- I kindly request your approval this is the third resolution to declare lot 7 as an economic revitalization area to qualify for property tax abatement. Ignition has been a significant site and investment in this area, as a brownfield for fixture development. Right now there is a 7 -8 years wait, We propose to invest in phase 1 about $6 million per building, two buildings each containing over 40,000 sq. feet to put spur future growth to a sister park to Notre Dame. We will hopefully with your support see immediate or short -term occupancy to expand our research base or manufacturing base here in town. Bradley Toothaker- 112 W Jefferson Great Lakes Capital- I appreciate your past support, proud to be part of this city and part of these projects, and continuing to name the project the catalyst, our hope and belief is that we will be successful. Right now we have two buildings planned, this step is necessary to the project. Councilmember Henry Davis- this is in the tiff district is it not? (That was confirmed) Several years back this project was encouraged as needing their own incubator site and now this has changed, has it not? Mr. Toothaker responded this is a next stage development, the ability of growth there will be some incubator growth that will be anchored by Notre Dame Research facility. Councilmember Davis, who is going to be the liaison between one and two to make sure those companies land over in Ignition Park. Mr. Toothaker responded there has been open/active engagement with the University that are appointing the action of the next steps to this project. Councilmember Davis what do you think about community benefit agreement, when companies, individuals, what do you think about those things given them around the city. Mr. Toothaker, responded without these, investments would not be able to exist, I would like to give it more thought and have a conversation with you later on that. My position is for the city and longevity of South Bend, as in a tiff district those funds stay in that community. We do need that investment but not just for one side. This being the time heretofore set for Public Hearing on the above bill, proponents and opponents were given an opportunity to be heard. Those wishing to speak in favor: Mr. Roth- 1831 College St- I don't know anyone here, but I do live in the city, if there is a poster child property for tax abatement this is it. 50 years 6 million square feet went dark, very little has happened it took us 45 years to demolish that when it took Michiaaa 5 years to do that. Paxton- Offices 405 Main Dome Univ. of Notre Dame- I want you to know there are really 6 partners in this, everybody has stepped up financially and are excited for Mr. Toothaker for bringing this forward. Councilmember Dr. Varner made a motion for adoption to full Council concerning this bill. Councilmember Dieter seconded the motion which carried by a roll call count of nine (9) ayes. BILL NO. 14-58 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, ACCEPTING AND CONFIRMING A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION DETERMINING THAT THE TAX INCREMENT FOR ERSKINE VILLAGE TO BE COLLECTED IN THE YEAR 2015 MAY BE ALLOCATED TO THE RESPECTIVE TAXING UNITS AND OTHER RELATED MATTERS 27