Economic Development Commission

MINUTES ECONOMIC DEVELOPMENT COMMISSION July 9, 2015 PUBLIC HEARING 4:30 p.m. OPEN PUBLIC HEARING Conference Room #1 The public hearing was opened at 4:33 pm. 120 East 8th Street Anderson, IN 46016 Mr. Winkler explained this project has been discussed for over a year. The Flagship Enterprise PUBLIC MEETING Center (FEC) would be the owner. It would be built Immediately Following Public Hearing on ground owned by the Anderson Redevelopment Conference Room #1 Commission (ARC) which would be transferred to 120 East 8th Street the FEC. The facility will be approximately 94,000 Anderson, IN 46016 sq. ft. Purdue University will be leasing approximately 44,000 sq. ft. leaving 50,000 sq. ft. MEMBERS PRESENT for industrial manufacturing use for companies that Gracie Suko, Secretary / Treasurer would partner with Purdue University, Anderson Dr. David Markle, Member High School, and Anderson University students as Robin Wagner, Member part of their ongoing technical programs and degrees. The approximate cost based on engineer and architectural estimates is $13,000,000. This MEMBERS ABSENT would utilize a combination of Community Bill Nagengast, President Revitalization Enhancement District (CRED) dollars David Eicks, Vice President which are available only in the geographic boundaries of the former General Motors (GM) STAFF PRESENT properties. Over the next 15 years that revenue Ashley Hopper, City Attorney stream will create approximately $11,250,000. This Greg Winkler, Director would cover most of the $13,000,000. The Michael Frischkorn, Deputy Director remainder would come from Tax Increment April Phillips, Economic Development Specialist Financing (TIF) dollars and would require a TIF Karen Pettigrew, Economic Development Specialist bond. All of this would be packaged together. Mr. Fenwick, City Controller, is working on this. Purdue OTHERS PRESENT University hopes to grow their enrollment. Tom Nave Helen Musick Mr. Sharp stated their goal is to have 500 students Leah Riffey within three to five years. Anderson University, David Umpleby, Krieg DeVault Anderson Community School Corporation, and Ivy Ann Marie Bauer, Anderson Redevelopment Tech will also utilize the facility for labs and Commission Attorney classrooms. Jason Streeter, Deputy Controller Corey Sharp, Purdue University College of Mr. Winkler stated regional companies have made Technology some type of commitment to be involved. This Adam Harvey includes SMC, Allen Bradley/Rockwell, and Red Gold. Jason Fenwick, City Controller Frank Owens, Building Commissioner Mr. Sharp has had conversations with Nestle. Nestle Kevin S. Smith, Mayor is interested in either supporting the students or the Pete Heuer, Board of Public Works project moving forward. He has also talked with Ken de la Bastide, Herald-Bulletin Magna Powertrain and others. ROLL CALL AND DECLARATION OF Mr. Winkler explained there is a new company that QUORUM has expressed an interest in being involved in this Dr. Markle, Acting President, called the meeting to project as well. The company will appear before the order at 4:32 p.m. and declared a quorum with City Council tonight. The company is the number three (3) members in attendance. three provider of industrial bearings in the world.  time will be significant. This particular resolution says the Commission has studied the need for these CLOSE PUBLIC HEARING types of projects and found this project is something The public hearing was closed at 4:38 p.m. the community needs. MINUTES Mr. Winkler stated the project is being built on a Ms. Wagner moved to approve the April 21, 2015, former Brownfield site and has picked up the minutes as received. Mrs. Suko seconded. Motion nickname as the P3 project. It will be the first passed unanimously; 3 yes, 0 no. Purdue Polytechnic Institute in the State. BUSINESS Mr. de la Bastide asked if any other community has anything like this in place or planned? Resolution #EDC04-15 Resolution Mr. Winkler did not think so. Muncie has a planned Recommending Residential Tax Abatement for makerspace facility, but is not affiliated with any Helen K. Musick, 6604 Bluegrass Drive university. This makerspace combined with Mrs. Hopper explained the resolution is manufacturing space combined with Purdue recommending residential tax abatement for Helen University is what makes this exciting. Musick at 6604 Bluegrass Drive located in Apple Downs Addition. Location maps were provided. It is Mrs. Suko appreciated the staff feeding information for a three-year tax abatement for new construction to the Commission along the way and keeping them intended for human habitation and will be owner in the loop. This is a very exciting project. occupied by a single family. Construction would commence no later than December 31, 2015, Mrs. Suko moved to approve Resolution #EDC05-15. pursuant to the City of Anderson ordinances. This is Ms. Wagner seconded. Motion passed unanimously; up for the Commission’s recommendation or 3 yes, 0 no. approval. If the Commission chooses to recommend the resolution, it will go on to the City Council for Resolution #EDC06-15 A Resolution of the their consideration at tonight’s meeting. Anderson Economic Development Commission for the City of Anderson, Indiana Providing Ms. Musick stated the house will be brick Preliminary Approval of the Issuance of Bonds construction with three bedrooms. A set of plans for the Purchase of Financing Certain was provided to the Commission. Economic Development Facilities to be known as the Flagship P3 Project Mrs. Suko asked if she currently resided in Mr. Umpleby explained this resolution basically picks Anderson. up the findings from the last resolution and also describes the financing. The Commission must find Ms. Musick answered yes. that there are no adverse competitive effects on any similar facilities within the City. The Commission Mrs. Hopper stated the cost of improvements is also finds the financing of the project will serve a $290,600. public purpose and is in the best interest of the welfare, health, and safety of the citizens. The Ms. Wagner moved to approve Resolution #EDC04- Commission is approving the loan agreement, note, 15. Mrs. Suko seconded. Motion passed and financing documents. These are in draft form. unanimously; 3 yes, 0 no. Essentially the Commission is approving the forms of the documents subject to the changes that have to Resolution #EDC05-15 A Resolution be made at closing and authorizing the financing Approving an Evaluative Report on the and recommending to the City Council that they Proposed Flagship P3 Project adopt an ordinance approving this. The Commission Mr. Umpleby explained the Commission studies the held the public hearing on behalf of the City Council. need for projects within the City. The resolution Their findings and recommendations will be referred gives a summary of the project in Section 2. Exhibit to the City Council for final action. A is the report that recaps all the information such as project cost which is anticipated at $13,000,000, Mrs. Suko moved to approve Resolution #EDC05-15. however, the resolution states not to exceed Ms. Wagner seconded. Motion passed unanimously; $15,000,000. There will be about 50 direct jobs. 3 yes, 0 no. The number of indirect jobs that could grow over Economic Development Commission (EDC): July 9, 2015 Page 2 MISCELLANEOUS ADJOURNMENT Mr. Markle adjourned the meeting at 4:50 p.m. Economic Development Commission (EDC): July 9, 2015 Page 3