Redevelopment Commission

~ LAFAYETTE ~ MINUTES OF THE LAFAYETTE REDEVELOPMENT COMMISSION May 23, 2024 11:00 am Council Chambers, City Hall Attendance: Commissioners: Frank Donaldson, Shelly Henriott, Jim Terry Absent: James Foster, Jos Holman Ex-Officio Members: Josh Loggins Absent: Dave Moulton Staff: Dennis Carson, Economic Development Director; Michelle Conwell; Economic Development Administrative Coordinator; Jeromy Grenard, City Engineer; Eric Davis, Legal Intern; David Huhnke, Marketing Director; Jeremy Diehl, Controller; Jacque Chosnek, City Attorney; Tony Roswarski, Mayor Guests: Collin Huffines and Paul Moses, Greater Lafayette Commerce; Tim Balensiefer, TBIRD Design Services; Rachel Hazaray, SIA; Ben Welch and Justin Ross, Wabash National; Dave Bangert, Independent; Vinny Martorano, WLFI; Geno Christofanelli, Intern Welcome and Call to Order Frank Donaldson 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 Jim Terry moved to approve the minutes of the April 25, 2024 meeting. Shelly Henriott seconded and the motion passed unanimously. New Business Utilization of Captured Assessment - Tax Increment Finance {TIF) Allocation Areas: Each year, we determine if we can pass through any assessed value to the underlying taxing districts in our TIF allocation areas. The determination for this is the commitment, need and identification of projects and obligations. Based on our extensive long-term capital planning and the identified project needs and obligations, we are recommending that we do not pass-through any assessed value. Jim Terry moved to approve. Shelly Henriott seconded. The motion passed unanimously. CE Solutions: 5th Street Parking Garage Renovations-Amendment 1-Jeromy Grenard, City Engineer, presented this amendment to the 5th Street Parking Garage agreement with CE Solutions. Parking Garage renovations are coming to a close, but some additional work and time was incurred. CE Solutions is requesting a change order of their contract for this additional scope in the amount of $15,900. The previous contract total was $83,200 and with this change it will be $99,100. Jim Terry moved to approve. Shelly Henriott seconded. The motion passed unanimously. TB/RD Design Services Corporation: 2024 General On-Call Services- This agreement includes on-call engineering and/or consultation services as issues arise that are small in scope, time and cost. This agreement with TBIRD Design is for such services on a time and material basis as needed. Jim Terry moved to approve. Shelly Henriott seconded. The motion passed unanimously. Resolution LRC-2024-21: A Resolution Recommending Approval of a Deduction for the Purpose of Tax Abatement in an Economic Revitalization Area for Real Estate-Subaru of Indiana Automotive, Inc. -Rachel Haza ray, legal counsel for SIA spoke about SIA expanding their Forrester Hybrid/EV production. SIA is requesting a ten-year tax abatement on an investment of $SM in real property to expand their facility and create an additional 100 positions specific to hybrid production, while retaining over 6,464 employees. Jim Terry moved to approve. Shelly Henriott seconded. The motion passed unanimously. Resolution LRC-2024-22: A Resolution Recommending Approval of a Deduction for the Purpose of Tax Abatement in an Economic Revitalization Area for Personal Property-Subaru of Indiana Automotive, Inc. - For the Forrester Hybrid/EV production project as above, SIA will be making an investment of $59,555,999 in personal machinery and equipment. They are requesting a 10-year personal property tax abatement. A Memorandum of Agreement is included regarding payback of the abatement if the personal property is removed outside of the taxing district. Jim Terry moved to approve. Shelly Henriott seconded. The motion passed unanimously. Tax Abatement Compliance Each year companies that have active tax abatements must file a compliance statement to document progress toward their investment and job creation/retention goals. We have found all companies in substantial compliance. However, you will notice that a few have not fulfilled their goals. For some, the project and investment along with hiring is still in process since it may be an abatement that was granted recently (and they have the period of the abatement to meet the goals) and for a few there are unforeseen market circumstance that are beyond their control for which they may be falling short of their projections. In these cases, letters are provided concerning their circumstance and we have found that they are making good faith efforts to fulfill their pledges. Dana Industrial (Fairfield Manufacturing)-PP Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Engineering & Industrial Services-PP Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. ASW Real Estate LLC (Engineering & Industrial Services)-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Fiber Hotel LLC (Wintek)-RE Jim Terry moved for recommendation to approve. Shelly Henriott 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-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Heartland Automotive LLC-PP Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. JAK Ill Partners LLP-RE Jim Terry moved for recomm.endation to approve. Shelly Henriott seconded and the motion passed unanimously. LB Associates LLC (Haggerty Point 4)-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. LB Associates LLC (Haggerty Point 5)-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. LB Associates LLC (Haggerty Point 6)-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Lex Lafayette LP-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Lifesong Brands, Inc. (Copper Moon)-PP (2) Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Lifesong Brands, Inc. (Copper Moon)-RE (2) Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. MREIC Lafayette IN, LLC (Toyota Tsusho)-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Mulhaupt's, lnc.-PP Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Blue Ridge, LLC (Mulhaupts)-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Nanshan America Advanced Aluminum-PP Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Plymouth 3701 David Howarth Drive IN LLC (Castle Coch)-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Rea Magnet Wire Company, lnc.-PP Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Southwire Company LLC-PP 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. Shelly Henriott seconded and the motion passed unanimously. Subaru of Indiana Automotive, lnc.-PP (4) Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Subaru of Indiana Automotive, lnc.-RE (4) Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Wabash National LP-RE Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Wabash National LP-PP (2) Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously.  Whitenack & Brothers LLC (Antique Candle Co)-RE (2) Jim Terry moved for recommendation to approve. Shelly Henriott seconded and the motion passed unanimously. Director's Report • Main Street Streetscape Phase Vis beginning May 28 th • • 3rd and 4th Street Conversion has started. Marketing for the project will begin soon . The project is expected to be completed August 1st - • Work on the Public Works Campus is continuing on schedule. Claims Jim Terry moved to approve the May 2024 claims in the amount of Five Million, Two Hundred Ninety-Eight Thousand, Six Hundred Ninety-Eight Dollars and Seven Cents ($5,298,698.07). 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 11:25am. Respectfully s ubmitted Michelle Conwell, Recording Secretary s Lafayet lopment Commission