Good evening, I will call the Metropolitan in Economic Development Committee to order from Monday, JULY 14th 2025 will begin introductions my colleagues on the first Thank you. Leader Kale District. 23. Thank you. MADAM Chair, Michael Paul Hart District 20. Thank you. MADAM Chair Pollen, a district. 22. Thank you. MADAM Leader, Brian Mowery District. 25, thank you. MADAM Chair McRoberts strict for thank you. MADAM. Later, Kristin Jones District 18. Thank you. MADAM Leader, Brand Illini District. 2. Good afternoon. MADAM Chair, Run Gibson District 8. Thank you. MADAM Chair Council Jerod Evans representing District 17. Good evening, MADAM Leader, Leroy Robinson, Representative District one. Good evening. My name is Maggie Lewis. The first item on our agenda, closer number 2, 0, nyree of planes, Daniel Moriarty to the Metropolitan
Development Commission. Know MADAM For Kids. He's going to be here. You please come forward and share interesting continue to serve in this capacity. Thank you. MADAM Chair, Moriarty like to be reappointed. That's your wish. Ideas that man, it's probably the most important asset we have. So I see that as utilization is the best possible for not only the applicants, but also the community the city's a whole. Questions. Comments from counselors. Yes, cancer on e. Thank you very much. MADAM Chair. I just wanted to take a moment to thank MR. De Montreal ready for his service this far to the board to Metropolitan Development Commission and what I hope to be as his continued service to the commission. I'm very proud of the fact that MR. Minority is constituent of mine and
Perry Township District. 22 and has represented only district, but also the township in the greater South side on the Metropolitan Development Commission, but really been a great voice for all of those throughout Indianapolis and Marion County. So Dan has an extensive background and that resume that's I'm sure been shared with all of us this evening in the agenda packet. And we just so appreciate that. You put that to you members constituents across the city and county in this way. So I look forward to supporting you, Thank you. Additional comments counselors. Is there. You want to audience that wishes to speak to propose a number 209. Seeing none. I entertain a The motion properly moved. And second, all those in favor signify by saying Aye, aye,
those opposed same sign the motion carries. Thank you so much for your willingness to serve. Item on our agenda. Well, as number one 84 was postponed from our last committee hearing the District Councilor asked that proposal. Number one, 84 be postponed to our our next committee MADAM Clerk Point is that next meeting? Is there a motion? Is there a second? And most improperly moon second, I know that the developer is actually in the room. So MR. If you like to take a couple minutes to address the Good Good Gary. Hobbs presidency will be w I good to see a lot of familiar faces again. Make this prefer you Unfortunately, myself and many of the supporters that you see on the side of the of
the room here. But taking time out to come here in support, come out. Those 3 pilot. Many of the folks here are residents of Canal Village. One a and very happy to be residents of Canal, but which And unfortunately they had some of them had plan to share their story. Power development has benefited them. So real people with real benefit of affordable housing. Unfortunately, delaying a this project is put in jeopardy of just being completely canceled. Right with tax credits. There was a time frame duration of when the tax credits expire. We've already been given one extension. Absolutely critical. That we start construction before within months. Come. And so we're putting jeopardy. The other reason why we're putting
in jeopardy if we can start in office. That a lot of our documents? But the market study environmental that have there's Tom durations on those documents and they have to be resubmit it and paid for. The cost. But Burton? On the project as well? And even if we were to extend the financing him and get some of the additional interest cost, the folks who really hurt from this will be the residents as well because purchase prices go up absolutely no reason. Other than political expediency and so forth understand the tough decisions that a lot of us are With making these choices. But I want to make sure you guys know the importance of the end of the day. And so there's 150 people on the waitlist. A few of which have come here in
support of the project that one housing. Are all that weight was they need this 3, 4 bedroom option. And I want to encourage that counts council to do what you can maybe for the next meeting. To strongly consider supporting. Of this wonderful project for people in the community that need it. The last thing I want to point out here is what you we were prepared to share the concerns from the remarks. Traitors from the last meeting reportedly found every single thing that talked about. 70 to view information. In terms of what the facts were and the biggest fact is I paid a penalty. My company pay the penalty for miscommunication during covid when I was sick fighting for my wife. Bess effects. Ok, made a bad decision to not communicate. I get it on met with the community and they will trust me. They were rough on me. Signed You that came up with the additional items for canal
built one. That was not required to do. Signed an agreement that agreement states very clearly. That agreement very clearly that the work. See the porch extension specifically welcome. It's one cd. 3 starts. That's and writing the remarks. Traitors review that signed it northwest. Part the late PRESIDENT Here signed it. That agreement solid and we have kept every single thing in that agreement with that. It that some things are finished. But they have started the fencing. This over the last few weeks. Got all the fencing up. That work is going on and we're honoring our commitments. But we can start those extensions Simon. Will until cd, 3 commences. And now that puts me in the community at risk of having
the end of the year. I want to share that with you. Got and appreciate you hearing we want this project for the people and supporters, even the ones with kids. And here we appreciate and appreciate you guys and sacrifice for showing and supporting the project. Thank you very much. Thank you. And I apologize for the inconvenience of you all coming down here and as not having a hearing. But again, traditionally, we do follow the lead of the district counselor. I encourage you all to continue the lines of continue to have the conversation with that District councilor and hopefully we'll see you guys back here soon. Thank you very much. Thank you. So there's a motion on the floor has been properly moved and second, accounts are doing. Thank you, MADAM Chair. I was wondering if we could just have all those in support of the
project that are here to stand and came all the way down absolutely stand and be acknowledged. Wonderful. Thank you all for coming. And you so much for. Find in time in your schedule to join us this evening. I also feel like there's a few reminds readers that might also be here no limit what that is just say in his wildest and here they are for our position where this proposal feel free to stand be acknowledged. Yeah. Thank you. Thank you coming. Thank you, MADAM Chair. Yes, ma'am. Yes, ma'am. Any other comments from counselors the motion has been properly moved. And second, all those in favor signify by saying those opposed same sign the motion carries. Thank and thank you all so much for being here. The next item on our agenda, this proposal, number one, 85 approves a payment in lieu taxes that pilot has provided by icy. 36 dash 3 dash 2 dash 12 for the
Crystal Moore Court. We have lp and its in district 12 18. Well, as years. Thank you. MADAM Chair, members of Thing Committee. My name is Ashley Miller and I am a principal with. Hi. Can you hear me? Thank you. MADAM Chair and members of the committee. My name is Ashley Miller and I am principal program manager with the Department of Metropolitan Development. And I'll be introducing the development teams that are here to speak to their pilot requests this evening. First up, is the press more court project. This preserves 40 units of affordable housing dedicated to seniors. 55 and older, earning no more than 60% of the area. Median income. And the development team from teenage. We'll provide an
overview of the project. Good evening, MADAM Chair, members of committee. My name is Janet. Hey, come in. I'm the owner of teenage investments. We aren't affordable housing development, construction and property management company. We have a lot that we're working on in Marion County right now. We're part of a larger family office. Called taking group. And I just wanted to come down today to support the project also support my head of asset management, Roy. He's going to present to today as many of you know, there's always first for everything and wanted to give Roy the chance to present. So he in his head of asset management role doesn't have the opportunity to present very often. Usually it's the developer that we
want leading the presentation, but he has been working really this pilot and one to given him an opportunity to present to this evening. I'll be here. If you have any development or teenage related questions to help in any way I can. Thank you guys for your time today. So as you said, I'll going through and talking about Christian or courts, which is 4 units of affordable housing here in Indianapolis. Just a inch or a slide on teenage the company that I'm here representing our values are love what you do do well by doing good to others. Family culture. It's very important to us both your organization, what we do as well as the communities that we support work, smart, work, hard, smart, work hard and do the right thing. And those are the values that we try to bring to this project. So as you mentioned, Chris Moore court says 40 units and it is senior housing. It serves people that
are 30, 50 60% of am I so lower income households here in Indianapolis. This project was a combination of both preservation preserve 34 units of existing affordable housing as well as created an additional 4 plex and to individual single-family houses. So just kind of a combination of of all we do here and therefore will housing world. This finance with 9% tax credits dfl on from Arpa funds as well as a grant from the Urban League and a seller note from Wcdc. So all those partners have kind of come together to make this project a success. These are just 2 photos of the 4 plex as construction still ongoing. There next slide will
show you a little bit of the single-family homes and then kind of where the real action happens. The community center at our 34 Multi-family building there. This project cost a total of 13.6 million and again, kind of a different breakdown of those sources that we I mentioned earlier. So a lot of different participants of kind of help make this project a success. And right now we have completed the 34 unit building is leased up and serving units. We have the 2 single-family houses which are complete and we're still working on completing the 4 plex. But that should be done here in the next couple wants. On screen. You can see kind of the recommended pilots schedule of payments that we've been proposed. And that would recommend about 20% of
the calculated Texas. So the real benefit of the pilot is the ability to bring services to our residents. We initially tried to bring out a robust service component that involved a lot. That was online and virtual. And after some, a consultation with some of the w the staff here. We decided on going a different route and trying to utilize more local support. So, Chris, to Morehouse is actually right across the street from our building. It short walk across and offers lots of different services that our residents can take advantage of. They offer breakfast and lunch 3 days a week to any of our seniors who want to join up. For financial management courses which also help them
identify fraud and things like that that are specifically targeting seniors. They offer multiple transportation opportunities, whether it's going out multiple times a week for shopping trips or medical transportation again, they're just willing to to get our residents out into the community. They offer gardening classes as well as a lot of different nutrition options and have a million meals movement to help provide access to fresh fruits and veggies. Once every 2 weeks. So people can come in get access to fresh fruits and veggies, that they wouldn't otherwise be able to get access to. They're able to provide different workout activities and those they bring on site as well the meals and a lot of these classes, these all happened on site at our community
facility. Yoga and Zumba both occur on site as well as they actually a boxing gym kind of across the street that not a lot of our seniors take advantage of, some of their grandkids and stuff like that are welcome to use as well. Walks with Dr Says-it's a popular thing that our residents use in which case the doctor will come out and actually take a residence on a walk around the neighborhood and talk through and kind of answer any health related questions. They have. Chris Moore House also offers case management services that will help take people to hospitals. Doctors just make sure they're getting the care they need. Additional services have we have been able to find other services, other service providers that close that are able to provide additional services. We've got them listed But there's some of the basic ones that you see in
affordable housing meals on Wheels, Food, Pantry, neighborhood, watch that sort of thing. So all these would be included in project. What the pilot help support. This is really the reason we're coming help get this pilot program is to help support the services. Crystal Moore House obviously has a cost to the services they provide, you know, the meals in of themselves. 3 days a week for breakfast and lunch can get kind of expensive as well as transportation services. They need volunteers and gas. That sort of thing. So in order to kind of have this all-inclusive program, it does need some funding. So this is where we demonstrate that the cost of these programs, is about going to be annual savings were expected from the pilot. Decide just breaks down the operating expenses that we have. You can see here that
this like many affordable housing projects is is not running a huge cash surplus. You can see right there, neck cash flow of only $35,000. You know, that sounds like a lot, but it does not go very far. In fact, this project, I don't about a couple weeks ago recently had a pipe burst. And that results in about 30 to $35,000 worth of damage it's something that's probably too little. You don't really want to file an insurance claim. So this is the type of thing that it does happen on these projects. And it will write out an entire year's cash flow. So well, it looks like, you know, the project can sustain and support itself any additional bit really can help. The pilot also helps us provide increased staffing. One of the issues that we're seeing in this project is because it is doesn't have quite as many units. Lot of
other ones. We can't have dedicated staff as as many days a week as we can on some of her other projects. So if we're able to get this pilot will be able to kind of increase our staffing presence, which is always evaluating among the residents. One of the things that this will be able to help is with insurance premiums. Insurance premiums are going up 10 to 12% a year and in affordable housing. Our rents are restricted and they are not going up nearly as quick. So this is something now kind of help. Help preserve this project to make sure that it's not struggling in the next 4 or 5 years with those rising costs. Another additional cost. Been creeping up and causing issues is insurance in these projects used to be able to get a $10,000 deductible. And it was something that was
easy. You can go out and get and that way. If you did have bigger claims, you wouldn't get hit with huge cost. Now it's the way insurance is a lot of projects are going to a 2% in trouble costs for wind and hail. So that means if we do have a wind storm or hail storm instead of it being $10,000 that the property can support, it's going to be 200,000 are deductible or more. So that's something that we're just seeing kind of across our portfolio starting to cause some strain on these projects. So again, any little a little bit helps. The pilot does not improve approved. We will have to definitely scale back our services quite a bit and we'll be able to offer it to those residents and staffing will be reduced. He's kind of the biggest things
that we're seeing that that threaten this starting this project. So again, I'd I'd open up to questions now, but what really, really appreciate if you guys can pass this pilot and help residents here. Report. Thank you so much for presentation. Questions comments from counselors. Council leader Heart. Thank you, MADAM Chair. And I my first question here is really. And the Mt. Just because we have 3 policy evening and already had a couple earlier this year. I was thinking on the way you know. Curious to know the empties measurement on. Folks moving into the houses are the housing units that are being created. A pilot specifically, are they do we know if they're folks coming from outside of Marion County to Marion County or if they're staying within Marion County. We don't necessarily know that that would be
something develop. Would be able to help answer for this particular project. It's preserving existing residence housing ability. MADAM Chair. The reason I wanted to bring that up is just, you know, I I asked dmv office last week and they're really good getting back to me. So just, you know, kudos to director because your team. Just how many pilots we've had this year, which is only been to with that through this evening. It makes 5 and if you combined the estimate savings on all those projects, it's just shy 4.9, 2 million over 15 years. So I bring that up. MADAM Chair, is that at least conscious about as we're looking at these pilots, you we will start of the budget conversations so far this year. And we've seen that, you know, there's 27 Million. We've got to make up. And so this is a piece of that, right
anytime that we take a payment in lieu of taxes. That means it's not going to go towards our general fund that we currently are looking at deficit on. So, I mean, you know, this is over 15 years, 303, 3,000 a year. Things do add up the conversations I've had with with the controller's office. This is one of those topics we have to pay attention to all of our tools. This being one of them. And that's why the question of are there people new people moving in because we can look at county income taxes? Well, right, when those people so there's there's multiple tax bases, but it's something that we've got to keep our eye on. I just want to bring to the attention of of all committee members and that a little bit
for today. MADAM Chair. Thank you. Additional comments from counselors. Is there anyone in audience that wishes to speak to proposal number one, 85. Seeing none. Entertain a motion. Is there a second? The motion been properly moved. Second, all those in favor signify by saying aye, those opposed same sign. The motion carries. Thank you so much for your presentation. Thank you, Dan. The next item or agenda as a number one. 86 Hey, man, look taxes a pilot has provided by icy. 36 dash 3 dash 2 dash 12 for the pcp Apartments l p which is located within district 8. Thank you. MADAM Chair. And this project includes 2 sites that will create a total of 74 units of affordable housing, accessible to residents, making no more than 60% of
area. Median income. And these Sullivan Development team is here to speak on behalf of the larger development. Thank you, Steph. Thank you. MADAM Chair, and Sullivan Development, a partner in a consultant with this project. We appreciate your time tonight considering this proposal we are asking for a pilot as well on this project. This is low income housing tax credit project that was submitted last year and awarded a to sites is called a scattered site. But it's not a whole bunch of sites. 2 sites, one on college and one on 38 Street. So 38 and Broadway and 22nd in college. Both those sites or sites that are currently either vacant or have vacant structures on them. Sullivan development is a a company with a mission to provide quality housing for We work
with our partners and with municipalities, the state and others to make sure we can bring quality housing 2 individuals and get that deserve quality housing at an affordable rate. These 2 projects were approved last will provide about 74 units of affordable housing and one and 2 bedroom units. Want to go to the next slide. Please. When we put these projects together, it's not only quality housing that we work closely with the neighborhoods we work with both neighborhoods. For over a year now to put together a project. We continue to work with them in the city architect to design a project that really meets the needs of the neighborhood as well as the needs of our residents. So it's much higher quality construction and what has previously been there in the
neighborhood to really just allow for rise in the standard of housing next side, please. Here you can see both locations. We'll talk first about the one on the left picture, which is the one on 38 Street. You can see there that it's a location of 3 existing apartment buildings. They 2 of them have been burned at some point. I'm in a boarded-up one has actually been removed in the last 6 or 8 months. These parcels are all controlled by at the moment. Will be acquiring the parcels from hopefully in the next week or so to start the process that you that project will have. 41 better wanted to units and has a right across the street from a red Light station. The second project, which is a half a block north of 22nd in college Citizens
Park Apartments we'll have 34 wanted to better units. They will be managed and operated as a single property at with management and maintenance staff covering both of these projects. And that's it is currently just a vacant parking lot. Just a little bit more detailed pictures of how the eu is laid out. These buildings are forward facing with the parking in the rear much like we like to see in our comprehensive plan. And I was on ordinance with the building forward design. They'll have full range of amenities not only and the unit with washers and dryers and dishwashers, but also just high-quality finished cabinetry as well. We're committed to providing quality service to our residents. We like our residents to comment. Stay with us for a long time.
But also as building point for them to eventually move into the market rate for market rate housing or to buy a home. So when they come to us in there, somewhere at 60%, am I or less over time? Usually they graduate out of that. But graduating out of that is not just making more money. It's also having the services and backing that allow you to be successful when you go to buy your first home or when you move into a market rate apartment so you could see a list of their been including financial literacy classes discounts on rental insurance and insurance education. A referral program for second helpings, as well as an onsite in-house pantry. We report to the credit bureau on a regular
basis that allows them to build their credit as they pay their rent every month. This really helps them again. Eventually get to homeownership. We also have fitness classes and a variety of different classes like that that take place on the property on a regular basis. We're partnering group to provide professional and career development car classes for women over the age of 18 on regular basis. And then there's some just enrichment classes where we talk to our residents. We say what would you like to see a class on? And then we find a service Friday that can help provide that. Service. We're in the Finnish final stages of permitting. We've been working with the city zoning development departments was a city architecture. We expect that we'll have those approvals in the next 30 to 40 days and be able to start
construction. To briefly go over what this project is. This is about a 24 million dollar investment and the project. When we get these like tech projects. One thing that's important to remember is the state requires requires there to be a participation from the local government. There's 2 ways to do that. One for us to come to the local Please give us a check so that we can have participation from local government. The other way to do that is have a relief and some kind of process be it permitting fees or whatever to represent. About 10% of the project cost. The easiest way for us all to accomplish. That is through a pilot because through a pilot, we're paying more taxes that are currently generating. We're able to provide more services to our residents because it's lowered our money. Our monthly and annual
expenses. But we get to claim. That participation that pilot amount we get to claim that is participation from the local government. So it's really a win-win for everybody in today's world going to a local government asking to write a check for 10% of a project like this of the state and feds will match the money. It's pretty hard to to get across. But the pilot program is a way to do that. Much better. The next slide just shows you briefly what those rents will be. They'll be about $1100 for one better. And about $1300 for to better. That is the highest rents at the max income levels, which varies on the size of the household. But it's basically between 46 and 61st. 66 $1000 a year or 60% of the median income. This is a slide just to let you know where we're at. We're getting really close
to the closing process. We've been working on this for about 18 months will start construction. It's about an 18 month construction period. So we're about a year and a half from have delivering these units. It's a long process, but we're getting close to actually saying something coming out of the ground. As I stated, we worked with a lot of different groups for support. I won't read these all to you here. You can read them. They're self. They're in your packet. We appreciate their support. But I think this demonstrates how the community is really behind this project. With that. I'm happy to any questions. And I for your support of this pilot. Thank you so much for your presentation. Questions from council council Gibson. Thank you. MADAM Chair of this is in my district. Very excited about I want to say to develop or you've been very
thoughtful. You engaged all the parties. You're looking to add value and create quality, affordable housing. So my hats off to you. Happy this is my district in the very pleased with what you brought today. Thank Thank you. Additional comments from counselors. There anyone in the audience that wishes to speak to proposal? Number one, 86? Seeing none diet and emotion. Investment property a second. All those in favor signify by saying Aye. Those opposed same sign. Motion carries. Thank you so much for your presentation. The next item on our agenda, proposal, number 2 team a previous statement up in a fit for Thunderbirds cc Land Partners, llc and applicant for tax abatement for property located economic
revitalization area. Good evening, MADAM Chair Committee members. My name is Cathy Battle. I'm program manager for the economic incentives team with the Metropolitan Development. I want to introduce the representatives for projects from caught Thunderbird, which will be presenting this evening. A speculative project. It's located at 6900 English Avenue in the Irving, 10 Prevail. Road allocation area. When we have a tax abatement applicant that is applying for tax abatement and it falls within the application within the allocation area. It is the nbc's policy that the city Count County Council must adopt a resolution approving
their benefits. So that's why they're here today. They're saying the benefits basically says they're going to invest 110 million in real property this community with a commitment of creating 200 jobs. This is supported by council hurt. This falls within his district district. 20. This would be for 8 real property tax abatement with an additional two-year enhanced and Senate. So it can be up to 10 years and I will turn it on to Benson. Thank you, Kathy. Thank you, MADAM Good Good afternoon, counselors, appreciate you. Take time consideration for a this in your own kind of a new capacity as well Vincent Ash and vp of Development for Loft here, too, requesting
abatement Florida Thunderbird Commerce Center before going into details about the project wanted to just give a high-level overview of of our of our company. Myself will be the main point contact. So if there's ever any issues or concerns with the property long-term to forgive me, a call. But our team also consist of ceo Adam Broderick, our ceo cfo John Gober and our head of Construction, Dan Baker. Little bit about We have been operating out of central Indiana for like the last 50 in the past operated in over. 32 states have built over dough 32 states consisting of developments retail office. Industrial as well as multi-family. Next. Please. Law highlight a little bit of our experience said that we have here want to
focus not all but want to focus on the project's. More specific to Indianapolis. Just last year. We just completed the Republic Services facility on the south side of town. In addition to the blue power facility that's there as well. We also just last year completed the First Baptist Fieldhouse, which is off 86 and college's athletic facility. Actually coach there. And my son doesn't like football and basketball at the facility. And lastly, more specific to this. I don't want to highlight the Monarch Beverage facility, which is about 440,000 Square feet. It was a bill to bill to sue facility at the Thunderbird site. Want to highlight that specifically? That projects actually located just on the South West corner of the site. We also are in the midst of closing on another bill to sue
and the northeastern parcel of the I mentioned those 2 specifically because they are not included in this requests. This request consist of all the buildings that are listed as propose. Our approach is to do this and 4 phases would each building in face. Each building consists of about 250,000 Square Feet, which is going to quite a little over a million square feet in total. It'll be 110 million dollars in as a part of our commitments to the city. We're committing to 200 jobs in total over those 4 phases being at $18 an hour, a wage floor. So it is not a average wage. We're only counting jobs that goes towards a 200 that are over $18 per hour. So want
to mention why Indianapolis, why are we doing a a speculative development there? Some colleagues here that price speaking kind of mentioned this as companies are looking for sites. One of the first things that they think about is access to talent and workforce. So the closer you get to a population the more attractive your site is in addition to that, they look for access to utilities excluding power, water sewer and things of that nature this I happen have a substation. All right. On the site. So we have the capacity. What out with minimal of grace, a really support any user that will be looking at the site we have on this for the last few years. We are in Destin. Well,
over 20 million dollars in just the infrastructure alone, there was never an asset to the city. 44 Bateman to support those that that infrastructure investment believe Mondaq beverage came separately and to request abatement on their own. So we do think this site is beneficial is lot I would say premier sites in central Indiana while we do a speculative abatement. So effective abatement on the speculative development is basically a development in which we don't have a tenant identified just yet. So. When you look at Indianapolis as a whole, especially for buildings that are 250,000 Square feet or lower, they have a vacancy rate of 2%. So that means as companies that
are located in Marion County, they're looking to expand or even new ones that are looking to come here. There's very limited in that footprint. We're not building a million square filled footer that's going lend itself to more warehousing. The rental rates that we're going charging are going to be for for quality tennis is going to up a very good wages and probably land itself more too. Vance, manufacturing and advanced manufacturing companies were actually just very confidential. But in conversation now with a potential life science company that is looking at the site. So overall, this is just really a breakdown of the commitments in the 4 phases where investing about 27 and a half million dollars to each
face for a total 110 again committing to 200 jobs at a wage floor of $18 an hour. The left just kind of really gives you a breakdown of the savings over time. I do want to mention that this is not a standard deduction schedule. So normal abatements, you will 100% abated year one usually tear downs, straight line kind of depreciation over a span of the term. This is a 50% abatement across all 8 to 10 years. So this project is located in a Did the savings that you see is going pretty much match dollar for dollar, the taxes that will be going into a tiff to be able to support a lot of different infrastructure within the area. Project. The site is
already adequately zoned industrial. Why we are seeking abatement were seeking abatement mostly to stay competitive as the developers. This is not benefit specifically in more. So provide savings to potential companies that will locate When you look at a lot of the surrounding communities, especially in a donut counties, a 10 year abatement is usually offered little commitments other than just being able to build the building. And so this is our way trying to be competitive. Ultimately, the savings are going to be passed down some potential companies located at the site. Going next slide. The last part that I'll
mention is our inclusivity plan. So as a part of the abatement 5% of the savings, which is about $441,000 over a span of 8 years needs to go includes inclusivity, paying for community impact. So we identified 2 opportunities working very closely. What what Council heart partners with in his area in his district to help support us. So we decided to split this up into 2 different pots. One being $300,000 to support a forest preservation fund a neck hopefully go towards additional green space preservation, a green space creation either, you know, parks and trails associated with that. We see that as a quality of life component that will be beneficial for area. Ultimately, hopefully even the employees that we'll be at the site. Additionally, we thought
we very valuable to have a workforce development partner. So we connected through a council heart. The Walker Career Center, which education, technical training facility out of Warren High school they are very supportive of this project. And we look to establish partnerships with them to develop workforce development pipelines as well as potential even training curriculum for potential tenants. That will be on the site. So with that, that is a high-level of of our project. Thank you all for your consideration. And that happy to answer any questions. Thank you so much for your presentation. Cancer heart. Thank you. MADAM As with everything that comes to
district 20, I get a lot of time and I talk to these folks a myself and Vincent probably had at least. 7 or conversations on this. And it's been a plan that's really working well enough to give credit to both love and the city on this one. You know, going back to sure the city wanted the site to begin with back in the day. You know, my first term, as with all this started and this is something that's, you I was part of John, that if around with this back when counselors sons here representing District 14, things are working with this one. I think this really adds a lot to the area. Both are district 20 and the neighboring districts. So, you know, a lot of the benefits that will come down stream from this and that if impact urban 10, which is a neighboring community just to
mine. And then the partners have been great. It's been amazing organization. They bring in great tenants. They've kept it very clean, organized and are very, very professional. So I have a ton of support there. And I want to be very grateful. Inclusivity planned peace as well where I will give credit both to it. The eye louthan, you know, really given counsel description 100% council discretion on where those things go. And I'm very grateful for that. I know all of us has been working to do our best to find funds for forest preservation. I had some counselors come out to district 20. Counselor Evans came out. The district went in. We've got the East side flats. This will cover that by any means, but it gets us one step closer to a nature preserve in the area. And then, of course, the Warren Career Center, which is just an amazing asset on the east
side as well. So I'm overly supportive of this grateful for everybody who was a part of it and helped. And as for everybody support this evening. Additional comments from counselors. There anyone in audience that wishes to speak to proposal? Number 2.10? Seeing none. I entertain a motion. Investment property moved and second, all those in favor signify by saying those opposed same sign in motion carries. Thank you again for your presentation. The next item on our agenda a member to 11 prisons statement benefit for roads, operations And that good for tax abatement for property located in an economic revitalization area. Good evening again. MADAM
Chair Committee members rushed Diagnostics is located at 91 15 hay grow again, this is in a location area. So it's in the 96 street Casselton allocation area. They have submitted their tax abatement application and they're doing a major campus expansion. Again before can improve the abatement. We need be. Adoption of a resolution for the statement of benefits, their statement of benefits, states that they are going to invest 100 125 million in real property. A 405 million in personal property they will retain to over 2600 jobs and they will create 650 new jobs. They are requesting a ten-year
real and 10. Your personal property. This is in district 4 Councilor Roberts is the councilor and he is full support of the project. Thank you. Thank you. MADAM Scott Wilson. I'm the vice PRESIDENT Treasury for Roche Diagnostics. As want to take a few minutes to provide an overview of Roche and water. Campus expansion will look like. Russia's or its predecessor has been on the northeast side of Indianapolis since early 1960's. We have a 160's plus acre campus but employees. 4800 employees in the area. We primarily are looking to expand that campus further through additional manufacturing capabilities
over the past 12 to 13 years, we've invested already 483 million dollars on expanding and growing our campus. And we're excited about this new expansion project. A new project will be to expand diabetes, manufacturing for continuous glucose monitoring project, our continuous glucose monitoring system allows the millions of people that deal with disease and diabetes to help manage their disease. Better. What we're looking to do is build an entirely new manufacturing facility on the next slide. You'll see here that the current overview of our campus buildings. The first top 3 buildings were going to completely gotten remodel and expand the manufacturing capabilities. In addition, we're going to build
on a Greenfield space entirely. New manufacturing facility. That's over 250,000 Square Feet. Really the heart of the development. Details on the next slide or we're going to invest over 550 million dollars over the next 6 or 7 years. This investment includes significant investment in manufacturing equipment, personal property of over 405 million dollars. In addition to 145 million dollars on the real property expansion for the new buildings. Once fully operational. This new jobs will increase by 650 jobs. These new jobs are high-tech manufacturing jobs with an average salary of over $80,000 a year. In addition will retain those current jobs that we have that currently ever average salary based of over $108,000 a year. We expect this project to kick off later this year and were expected to continue over the next 5 years
as we roll this out. Based upon our ongoing investment with in relationship with employee in the way. And we also intend to continue and enhance or investment with employee Indy by providing a 2 million dollar commitment to them as part of our inclusivity commitment. The schedule you'll see is basically just a breakdown in probably getting into more details. And we need to on the line items. But essentially we're excited about this project. We're investing 550 million dollars to create 650 jobs. And we're asking for your approval of the tax abatement that we've been discussing. There any questions happy to answer anything? And Larry figure, it's Arkansas tax abatement consultant is here also for any questions the phone questions. Pastor Roberts.
Thank you, MADAM A quick comment. What was said before this is within my counselors are just 400% support. Took for nominal project really as a huge boost for the whole greater casselton area, which has been in need of a big boost for a while. And also just in terms of our merging stem and life science industry in Indianapolis, that's a huge growing market. Have those jobs here? Work can be just such a in-demand industries really important. And also I think it's a great example for the public. Private partnership should be too, really the whole team effort to get this done showing are his old team at I e d I believe is the acronym. Got it done really well in the city. Obviously to supporting. We need just good paying jobs in Indianapolis. And I think just phenomenal project was a thank you for coming and for all your work to prove northeast side. Additional questions.
Comments from counselors. Is there anyone in the audience that wishes to speak to proposal number to 11? Honor to motion. Emotion probably mean a second. All those in favor signify by saying Aye, aye. Those opposed same sign motion carries. Thank you so much. The last item on our agenda proposing number to 12 zip ruse, a payment in lieu of taxes. Pilot has provided for an icy. 36 dash 3 dash, 2 dash, 12 point affordable, a housing project, new finance in part with low-income housing tax credit. This is located within district 8. Thank you. MADAM Chair, Ashley Miller. Again, this project will create 200 units of affordable housing accessible to households making more than
60% of the area. Median income and the Sullivan Development team is here again. And they will provide an overview of the project. Thank you again, staff and MADAM Chair. Counselors, appreciate your help. Try to make this one brief. So we'll go over everything that I said before about our company. But again, we're trying to provide quality housing for those residents in the Indianapolis area like to comment a little bit on. A question was asked earlier about where most of our residents come from our residents that live in these departments, as you can see by the red pay rent. The rent is not subsidize. So we find the most most of those are coming from the community. They're currently living in substandard housing or they've outgrown their housing MAY
have a job they want to live in the neighborhood where they're going to stab least south by finding quality new construction ally Tech properties allows him to do just that. Their skits kids stay in the same schools. But there transition up larger unit are Mork, more expensive unit, but still affordable units on their progression to homeownership are market rate. So that's where we find most of our residents come from. That doesn't mean there isn't someone that moves in and qualifies. That has a job. But you know, when you're paying. 45 to $60,000 a year. You're not somebody just moving into town to find free housing. You're, you know, moving in your neighborhood, trying to establish an and do better for yourself. This project is
located on Southern Avenue, which is just south of 38 Street between Fall Creek and Southern. It's all railyard. You've probably seen some development taking along through there. Part of that rezoning process was to allow for more affordable projects. So we're coming forward with 200 units of affordable housing. This is approved through it. Cda earlier this year. Our hope is to start construction later. This fall. The project will bring affordable units as well as walking trails and a lot of amenities. The larger units usually provide more amenities because we have a greater need for the residents have. So so all the other 2 projects I spoke of were 30 40 units.
This is 200 have multiple on-site staff, daily maintenance staff as well as leasing staff and programming staff. Dog park walking trails all part this project as we move forward. Here's a little more. I have a picture of where the project is located. You can see in the diagram that shows a site plan where the northern part of that, which is to the right and 38 Street is the is the far-right edge of that site plan. Again, the standard, a product that providing as much similar to the one you saw earlier, quality interior finishes utilities, appliances, so forth. Again, we provide quality services to our residents. This is not the exact same list of services we talked with our management staff, which is here in property management on this property are custody. We really look at what some of those services might be. So they're slightly different
services here than on the other projects because we just feel that's a more appropriate services for this project. But we worked with staff to put together a list that we all believe meets the services for our residents. Through the due diligence process. We're talking with our finance individuals were through. We're working with staff on the rezone process is done working on the permitting process. We will have to create a small subdivisions. We've got a couple more steps in this project to accomplish that yet this year. As you can see, this project is much larger project in the previous one. This is about a 47 million Dollar project. It's a combination of like tech funds. I see 8 da as well as a pilot and bank loan to create that capital stack. The rents are very similar to the ones you saw before because
we're in the same, essentially not an exact same census tract, a very close in the same neighborhood. Finally, we have again worked with the neighborhoods around that area. This is touch as several neighborhoods. We work for several neighborhoods over the last 12 months to put together a project that we can all be proud of. And we think that's a neighborhood. And with that, we would ask your support for this pilot as we move forward on 200 units on Southern Avenue. Thank Questions comments from council council Gibson. Thank you. MADAM Chair. Talk about a product. Are really totally revitalize a neighborhood. This is it. I mean, is well thought out. Got all the community stakeholders invested in it. And the fact is bringing affordable housing. Back so it brings people back into the committee
born and raised in the area. It invites those who lived there continue to stay there. And if you will, up there up their standard of living, I think this is really one of a project can certainly proud of the developer way they presented going forth. Additional comments, cancer heart sorry, Leader heart I just want to clear what my comments the intent were behind. Individuals. That live in Marion County versus outside of Marion County, specifically as we have to look at our overall tax base. And if they're not living in Marion County and they move in. We're getting more right. But if they remove here, very live here, we're staying flat. So that's the intent there. But I just want I want to ask general question. Nothing I've ever asked whether it be dmva answers are the developer wants to answer but I want to but it would define affordable
housing for me. You you can go for sure for purposes of this project it would be, I think normally low income housing tax credit projects require at least 60%. Our properties cannot rent to folks making more than 60% of the area. Median income. So it kind of depends on the funding source. But for the left, why tech projects it is a 60% area. Median income standard. And then what was the median income in this district? That is what the median income in this project area. What is that actual income yet? As is the median income 60,050 1000 where it's where 60% of the median and time with a single person being at $44,000 to meet So 44 is that is the 60%. Is a 60% of the median number. Okay. Yeah. And the reason I
was curious is just the bedroom cost was one one measure $1200. I believe so. Yes. That's a calculation that so. In these programs, affordable housing is defined by irs Code Section. 42, which defines what the median incomes are for every census track and then defines median incomes for metropolitan areas. And then that sets the standard for this. They then calculate the max read at based on income that individual could pay. So when you see that rent, that's the max we could charge for an individual. So if a single person wanted to rent a one-bedroom and they made the maximum 60% rent. That's what they would pay if they're making 58%, then that rent would be something less than that. 60%. And general in the Indianapolis market, we find
that once individuals reach about 80% of the median income, they can afford market rate apartments. And what some of that workforce housing category and how many units are you advocating to the All 200? Also want Thank you. MADAM Business from comments from counselors. Is there anyone audience that wishes to speak to proposal? Number 2.12? Cnn, a entertain a motion. In a second. And most been properly moved. And second, all those in favor signify by saying Aye, aye, those opposed same sign. Motion carries. Thank so much for your presentations. Seeing no other business before this committee. We are adjourned.