Economic Development Commission

MINUTES ECONOMIC DEVELOPMENT COMMISSION December 12, 2018 PUBLIC HEARING / MEETING Levi was introduced and briefed members on 4:30 p.m. construction. Brief discussion followed. Conference Room #1 120 East 8th Street Mr. Stephenson moved to approve Resolution Anderson, IN 46016 EDC17-18 for C. Camille Millet and Anthony Levi. MEMBERS PRESENT Ms. Hobbs seconded. Motion passed unanimously; Bill Nagengast, President 5 yes, 0 no. Lance Stephenson, Vice President Mary Jamerson, Secretary/Treasurer EDC18-18 Resolution Approving and Roger Reed Authorizing Certain Actions and Proceedings Lisa Hobbs with Respect to Certain Proposed Economic STAFF PRESENT Development Revenue Bonds and Related Tim Lanane, City Attorney Matters (Hudson House Apartments, LLC Greg Winkler, ED Director Project) Karen Soetenga, ED Staff Mr. Winkler informed members on Hudson House Apartments, LLC project involving the OTHERS PRESENT Marc Slayton, ED Staff rehabilitation of the former Beverly Terrace Anthony Levi, Tax Abatement Applicant apartments on Central Avenue, downtown. Mr. Matt Quinney, Hudson House Apts LLC Winkler introduced Mr. Quinney who briefed Ann Marie Bauer, ARC Attorney members on the work done so far on the building Doug Whitham, City Controller and what is left to do. Mr. Quinney stated the Primus Mootry, Anderson Impact Center Judy Casas, Citizen rehab project has been in process for about six months. The total rewiring of the building was ROLL CALL AND DECLARATION OF expected but the total replumbing was not and has QUORUM raised the overall cost of the project. Mr. Quinney Mr. Nagengast called the meeting to order at stated the electrical, plumbing and heating work is 4:30 p.m. and declared a quorum with five (5) 95% done and the first and half of the second floor members in attendance. is complete. The Economic Development bond will help to push the project to completion and MINUTES Mr. Nagengast called for the minutes of September allow for the remaining second floor and third floor 13, 2018 to be approved. Mr. Stephenson made a to be finished. Mr. Quinney stated he expects to motion to approve September 13, 2018 minutes as begin offering for rent the first of 37 units in presented and Ms. Hobbs seconded. This motion January. Discussion followed. Mr. Winkler stated passed unanimously; 5 yes, 0 no. Mr. Quinney has put $900,000 in the project so NEW BUSINESS far. Ms. Bauer, ARC attorney stated the bond will Resolution EDC 17-18 A Resolution be backed with Tax Increment Financing (TIF) and Recommending Residential Tax Abatement for the net proceeds will be $180,000. The tax C. Camille Millet and Anthony Levi . increment will go towards the repayment of the Mr. Winkler briefed Commission Members on bond. A question and answer time followed. Resolution EDC17-18 residential tax abatement for C. Camille Millet and Anthony Levi. Mr. Winkler Ms. Jamerson left the meeting. stated the address is 6603 Bluegrass Drive, Lot 02 in the AppleDowns Addition. Improvements to the Mr. Stephenson moved to approve Resolution property will be at an estimated cost of $371,850.00. EDC18-18 authorizing Certain Actions and The request is for a three-year tax abatement, as it is Proceedings with Respect to Certain Proposed not considered in-fill housing. Construction will Economic Development Bonds and Related Matters commence before December 31, 2018, for a single- for Hudson House Apartments, LLC. Mr. Reed family dwelling intended for human habitation. Mr. seconded. Motion passed unanimously; 4 yes, 0 no. ADJOURNMENT Mr. Nagengast adjourned the meeting at 5:07 p.m. Page 2