Redevelopment Commission

~ LAFAYETTE ~ MINUTES OF THE LAFAYETTE REDEVELOPMENT COMMISSION May 25, 2023 11:00 am Council Chambers, City Hall Attendance Commissioners: Frank Donaldson, James Foster, Shelly Henriott, Jim Terry Absent: Jos Holm Ex-Officio Members: Dave Moulton Absent: Josh Loggins Staff: Dennis Carson, Economic Development Director; Tony Roswarski, Mayor; Cindy Murray, City Clerk; Jeremy Diehl, Controller; Jacque Chosnek, City Attorney; Jeromy Grenard, City Engineer; Dave Griffee, Asst. Director of Public Works; David Huhnke, Communications and Marketing; Michelle Conwell; Economic Development Administrative Coordinator; John Collier, Economic Development Assistant Director; Myles Holtsclaw, Economic Development Intern; Guests: Dawn Gallaway, Keller Development; Elva James, Area IV Development; Phillip Butler, Plymouth REIT; Dave Bangert, Independent; Paul Moses and Collin Huffines, Greater Lafayette Commerce Welcome and Call to Order James Foster welcomed everyone to the Redevelopment Commission meeting, noted that a quorum was present and opened the meeting of the Lafayette Redevelopment Commission at 11:00am. Minutes Shelly Henriott moved to approve the minutes of the April 27, 2023 meeting. Jim Terry seconded and the motion passed unanimously. New Business Patriot Engineering and Environmental, Inc.: Lafayette Streetscapes Phase VII-Construction Materials Testing & Observation-Dennis Carson presented this agreement for concrete testing for the current Streetscape Phase VII redevelopment on 5th and Columbia Streets. Patriot Engineering will provide six half days oftesting with five casting cylinders per half day to ensure the quality of the concrete and its intended specifications. The agreement is not to exceed $4,900. Jim Terry made a motion to approve. Frank Donaldson seconded and the motion passed unanimously. Resolution No. LRC-2023-06: A Resolution Recommending Designation Of An Economic Revitalization Area for Tax Abatement and Recommending Approval of Deduction for Tax Abatement Kentland Bank-Real Property- Dennis Carson presented on behalf of petitioner and current owner, Kentland Bank. The property is currently under contract and will be transferred to the collaborative partnership of Keller Development, Inc. and Area IV Development, Inc. once their federal tax credit application is approved by the Indiana Housing and Community Development Authority. For the application, they need to have this tax abatement approval in place. This 10-year real estate tax abatement will support affordable senior housing in our community. As presented by Dawn Gallaway of Keller Development, the proposed project, Snowy Owl Commons ("SOC"), will be located at 40-60 Twyckenham Blvd. SOC will consist ofthe new construction of 50 units plus a clubhouse and outdoor amenities targeting low to moderate income seniors making 80% or less ofthe Tippecanoe County Area Median Income. There is a lack of affordable housing, particularly for seniors, in Lafayette and throughout the State of Indiana. According to Indiana University Public Policy Institute in 2022 there were 38 affordable units for every 100 extremely low-income households which directly contributes to homelessness in Indiana. The City of Lafayette is supporting this abatement request to make the project feasible. The total cost of the project is approximately $11.9M and will create two jobs. Construction is to commence in the fall of 2024 with completion in the winter/spring of 2025. Jim Terry made a motion to approve. Shelly Henriott seconded and the motion passed unanimously. Tax Abatement Compliance We are recommending that all companies with tax abatements be found in substantial compliance even though some have not met their goals due to some abatements just starting and are in the first few years. These companies will add/phase-in new employees over the abatement period. Actual investment numbers are estimates at the time of filing and can fluctuate greatly when equipment orders are placed and received and/or construction contracts are executed and completed. Additionally, unforeseen changes in the economy and the company's market sometimes changes and investments in real and personal property. This may change their investment, but their abatement is on the actual investment made not their estimated or projected investment. Though the overall economy is strong, there are certain sectors that are experiencing weak demand which is an unanticipated circumstance that some companies are working to overcome. All companies are making good faith efforts to achieve their stated goals and commitments pursuant to their filing; therefore, the staffs recommendation is to find them substantially compliant due solely to unforeseen circumstances as noted. Wabash National LP - Our Commission and City Council approved abatement projects for Wabash National in 2021 to be completed in 2023. Unforeseen circumstances delayed their projects which they are just now undertaking and will complete in 2024. Therefore, they did not submit compliance documents at this time, but will do so once complete and approved by the Tippecanoe County Auditor. Blue Ridge, LLC (Mulhaupt's)-RE Jim Terry moved for recommendation to approve. Frank Donaldson seconded and the motion passed unanimously. Engineering & Industrial Services (EIS) LLC-PP Shelly Henriott moved for recommendation to approve. Jim Terry seconded and the motion passed unanimously. ASW Real Estate LLC (EIS, LLC)-RE Frank Donaldson moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Fairfield Manufacturing (Dana)-PP Shelly Henriott moved for recommendation to approve. Jim Terry seconded and the motion passed unanimously. H38 East Apartments, LP-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Heartland Automotive LLC-PP (3) Heartland Automotive LLC-RE (2) Jim Terry moved for recommendation to approve. Frank Donaldson seconded and the motion passed unanimously. JAK III Partners LLP-RE Shelly Henriott moved for recommendation to approve. Frank Donaldson seconded and the motion passed unanimously. LB Associates LLC-RE Jim Terry moved for recommendation to approve. Frank Donaldson seconded and the motion passed unanimously. Lex Lafayette LP (CAT Logistics)-RE Shelly Henriott moved for recommendation to approve. Frank Donaldson seconded and the motion passed unanimously. Lifesong Brands, Inc. (Copper Moon)-PP (2) Lifesong Brands, Inc. (Copper Moon)-RE (3) Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. MREIC Lafayette IN, LLC (Toyota Tsusho)-RE Shelly Henriott moved for recommendation to approve. Frank Donaldson seconded and the motion passed unanimously. Mulhaupt's, Inc.-PP Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Nanshan America Advanced Aluminum-PP Shelly Henriott moved for recommendation to approve. Jim Terry seconded and the motion passed unanimously. Plymouth 3701 David Howarth Drive IN LLC (Castle Coch)-RE Jim Terry moved for recommendation to approve. Frank Donaldson seconded and the motion passed unanimously. Rea Magnet Wire Company, Inc.-PP Frank Donaldson moved for recommendation to approve. Jim Terry seconded and the motion passed unanimously. South wire Company LLC-PP Coleman Cable (Southwire)-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Stoddard Development LLC-RE Jim Terry moved for recommendation to approve. Frank Donaldson seconded and the motion passed unanimously. Subaru of Indiana Automotive, Inc.-PP (4) Subaru of Indiana Automotive, Inc.-RE (5) Shelly Henriott moved for recommendation to approve. Jim Terry seconded and the motion passed unanimously.  Whitenack & Brothers LLC (Antique Candle Co)-RE (2) Shelly Henriott moved for recommendation to approve. Jim Terry seconded and the motion passed unanimously. Wintek Corporation-PP Fiber Hotel LLC-RE Frank Donaldson moved for recommendation to approve. Jim Terry seconded and the motion passed unanimously. Director's Report Streetscape Phase VII is continuing. The Public Safety Center dedication was held last night and was well attended. Thanks to the city staff, contractors and all involved to make this great project happen. The PSC garage is expected to be open by June 1. Claims Jim Terry moved to approve the May 2023 claims in the amount of One Million, Eight Hundred Seventy-Nine Thousand, Six Hundred Seventy-Six Dollars and Eighty-Three Cents ($1,879,676.83). Shelly Henriott seconded and the motion passed unanimously. Public Comment-no comment Adjournment Jim Terry moved to adjourn the meeting. Shelly Henriott seconded and the motion passed unanimously. The meeting of the Lafayette Redevelopment Commission was adjourned at 11:27am. Respectfully submitted Michelle Conwell, Recording Secretary , Secretary development Commission