03-14-16 Community Investment - Laserfiche WebLink

Home Browse Search

net jobs and retain fourteen (14) jobs. The estimated taxes abated will be just over $234,000 and the estimated taxes to be paid will be just over $346,000. Velvet Canada, 121 S Niles Ave, served as the presenter for this bill. She is the designer of the proposed building. The building site is between LaSalle and Colfax on Sycamore Rd. This is a five (5) story building with a rooftop terrace being the sixth (6) story. This is the first apartment building in downtown for Mathews LLC. Each floor has a one (1) bedroom, two (2) bedroom and three (3) bedroom floor plan. This will help the company discover exactly what the market wants in downtown before beginning the River Race Flats. The design is very close to completion and weather permitting construction will begin soon. Councilmember Randy Kelly asked how many apartments will the building have total. Velvet Canada responded there will be twelve (12) apartments total as it is a small test run. No one from the public spoke in favor or in opposition to the bill. Councilmember Randy Kelly made a motion to send Bill 16 -18 to the full Council with a favorable recommendation. Councilmember Regina Williams- Preston seconded the motion which carried by a vote of three (3) ayes. Bill No. 16 -19 Personal Property Tax Abatement, Spectron mrc, LLC Jacob Alexander, Community Investment with offices on the 14th Floor of the County City Building, served as the presenter for this bill. He explained Spectron is a locally owned business currently located at 17490 Dougdale Dr. and has operated in the area for twenty (20) years. Spectron is a radio - pharmacy and radio - pharmaceutical manufacturer. The company participates in manufacturing for nuclear medicine departments within hospitals and clinics. This abatement will allow them to purchase $2.7 million dollars in new equipment and expand their business and production opportunities which will create thirty -nine (39) permanent jobs. The estimated taxes to be abated are $109,315 and total taxes to be paid are $129,172. Gregory Hiatt, 17490 Dugdale Dr. South Bend, served as the petitioner for this bill. Mr. Hiatt explained the science behind what Spectron currently does and what this new equipment will enable them to do going forward. The company is licensed with the nuclear regulatory commission and licensed with the FDA. There has been a worldwide shortage on the products that these new machines will be able to produce. Councilmember Karen White asked what the average salary of the thirty -nine (39) new full time positions would be. Mr. Hiatt responded a few would be delivery positions between ten (10) and fourteen (14) dollars an hour. The majority being added will be pharmacists and technicians with average salary ranging from $60,000 a year to $150,000.