03-14-16 Community Investment - Laserfiche WebLink

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Kyle Harvison, 408 W Indiana Ave South Bend, served as the petitioner of the bill. This project is an expansion of South Bend Form's current building which will allow for the purchase of additional machine equipment. This also will allow the company to open up a second shift. Councilmember Regina Williams- Preston asked what kind of growth has the company seen over the past few years. Mr. Harvison responded the company has slowly grown but over the past five (5) years the company acquired some long term customers and because of that the company is experiencing growth at a much faster rate. The company actually is not able to keep up currently with all the orders which brought about this expansion and new jobs being created. Will Smith, 728 Whitehall Dr., expressed interest in knowing how the company is doing compared to the other tool companies in the area that are struggling. Mr. Harvison responded that they do very precision tooling for the aerospace industry and other industries that are precision heavy tooling and that part of their market is doing very well currently. Councilmember Randy Kelly made a motion to send both Bill 16 -21 and 16 -22 to the full Council with a favorable recommendation. Councilmember Regina Williams- Preston seconded the motion which carried by a voice vote of three (3) ayes. Bill No. 16 -13 Real Property Tax Abatement, The LaSalle Apts. LLC Aaron Kobb, Community Investment with offices on the 14th Floor of the County City Building, served as the presenter for this bill. This is continuing a tax abatement that was originally authored for a different company. When Real America came into possession of the building they were given the last year of the original two (2) year tax abatement through a resolution passed by the Council. This bill simply extends that original abatement for an additional year to give Real America a full two (2) years for construction during the tax abatement which is standard. The construction is going well with a projected completion date in September 2016. Jeff Ryan, Real America Development with offices at 10711 America Way Fishers IN, served as the petitioner for this bill. Mr. Ryan explained how Real America came into this project and tax abatement after it had been granted to another company. Real America is moving forward as quickly as possible on this project. They will have completion of the project in two (2) years from when they came into possession of the building. The building will hold sixty -seven (67) market rate apartments and commercial space as well. The projected opening date is in the fall of this year. Councilmember Randy Kelly asked if the abatement is the same even though the companies are different. Aaron Kobb responded yes Real America took over the abatement as is and their budget is actually a little higher than what was called for so hitting those investment minimums is no issue.