08-10-15 Community Investment - Laserfiche WebLink

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COMMUNITY INVESTMENT AUGUST 10, 2015 3:30 PM Committee Members Present: Gavin Ferlic, Henry Davis(AB), Dr. David Varner, Dr. Fred Ferlic Citizens Members Present: Robert Emery, Pat Mullin (AB) Other Council Present: Tim Scott,Valerie Schey(XAB), Oliver Davis, Karen White, Derek Dieter Others Present: Jack Smith, Erin Blasko, Chris Fielding, Michael Lehman (MTI) Agenda: Bill No. 15-77 Designating Tax Abatement- Manufacturing Technology Inc.402 N. Sheridan St. 2 Year Vacant Building Bill No. 15-78 Designating Tax Abatement- Manufacturing Technology Inc.402 N.Sheridan St. 5 Year Personal Property Committee Chair Gavin Ferlic called the meeting of the Community Investment Committee to order noting all members present with the exception of Henry Davis. There were two bills scheduled for review, both,abatement petitions for(MTI) Manufacturing Technology Inc. For purposes of presentation and public hearing Gavin said both bills could be presented and considered together. Chris Fielding from the Community Investment Department made the presentation. The first, bill 15-77,was a request for a 2 year vacant building abatement. Chris said MTI was expanding their manufacturing in a previously vacant building located at 402 N.Sheridan St.Their investment in the building is projected to be nearby a million dollars. The companion bill, 15-78, requests a five year personal property abatement on machinery and equipment costing an estimated one and three quarter million dollars. Chris also indicated Mr. Michael Lehman from MTI was present to answer any questions. The Council followed with questions primarily focusing on the manufacturing process. In short order Dr. Ferlic moved bill 15-77 be sent to Council with a favorable recommendation. Gavin seconded the motion and all supported. Dr. Ferlic then followed with a favorable recommendation for bill 15-78. Dr.Varner seconded this one. Again all affirmed. Gavin adjourned the meeting at 3:38 pm. 1