01-25-16 Community Investment - Laserfiche WebLink

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COMMUNITY INVESTMENT January 25, 2016 4:25 P.M. Committee Members Present: Gavin Ferlic, Regina Williams- Preston, Oliver Davis, Randy Kelly Other Council Present: Karen White, Dr. Varner, Tim Scott, John Voorde, Jo Broden Others Present: Kathleen Cekanski - Farrand, Adriana Rodriguez, Alkeyna Aldridge, Brock Zeeb Agenda: Bill No. 16 -06 Designating five year residential tax Abatement 6741 Lutz Dr. Gavin Ferlic, Chairperson of the Community Investment Committee, called the hearing to order with two bills scheduled for consideration. Brock Zeeb, Director Economic Resources with offices on the 141' floor, presented this bill which is a residential tax abatement. The estimated new taxes created over the five year period will be approximately $8,900, the estimated taxes to be abated will be around $8,800 and the taxes to be paid around $102. The address is located at 6741 Lutz Dr. Amber Obrien, 1722 S. Gladstone, served as the petitioner for this bill. The petitioner reported this is a 1725 square feet single family home in Lafayette Falls on the far south side of town. Council Member Karen White said she would ask some questions on the floor of the Council concerning how this is a distressed residential area and other concerns of how the process works. Mr. Zeeb stated the Indiana Code refers everyone to the commercial code and then if the property does not meet a commercial code the Council has the ability to designate it as a residentially distressed property. In this case, this subdivision experienced a bankruptcy and has left around thirty (30) lots empty in the neighborhood. This is a middle class housing neighborhood which we are always saying we would like to increase and it is in the city limits. The petitioner does meet the specific criteria and I can point to a number of other residential abatements to prove a long history of these types of abatements. No one from the public spoke in favor or opposition of the bill. Due to time constraints Chairperson Gavin Ferlic would like to forward this bill to the full Council with no recommendation. So moved by Council Member Oliver Davis and seconded by Council Member Randy Kelly which passed by a voice vote of four (4) ayes. There being no further business before the Committee, Chairperson Gavin Ferlic adjourned the meeting at 4:30 p.m.