Is there anyone?

Ladies and gentlemen, good afternoon.

Welcome to the May 15th, 2024 meeting of the Metropolitan Development Commission, which will now come to order.

Would you please all rise and join me with the Pledge of Allegiance?

Thank you.

Our first order of business today is I'm going to make a motion for Michael James to be the acting secretary of the May 15, 2024 meeting.

Our secretary and assistant secretary are absent.

So I've made the motion.

Can I get a second?

Second.

All those in favor signify by saying aye.

Those opposed.

Michael, you're two for two.

Congratulations.

I want to go on record and make a note for all interested parties that at the previous MDC meeting, the commission voted to cancel the upcoming June 19th meeting due to the city's observation of June teenth.

The MDC will hold a special meeting on June 26, 2024 to address all matters scheduled to be heard on the canceled meeting date.

That's just for the record.

Moving forward, members of the commission, you received the minutes of the May 1st meeting last week.

Hearing none, I'll accept the motion to accept the May first, 2024 minute minutes.

So moved.

Thank you.

May I get a second?

Second.

All those in favor signify by saying aye.

Aye.

Those opposed.

Thank you.

Moving forward.

Thank you, President Dillon.

Twenty twenty-four R009 authorizes DMD to convey thirty-four forty North Capital to Indianapolis Neighborhood Housing Partnership Incorporated for the sale price of one thousand five hundred dollars and certain commitments to be made by INHP for the purpose of creating affordable housing opportunities on city-owned vacant property.

Aproves a TIFF Pledge resolution for the Allison Point Multifamily Development Project led by JC Hart Company Incorporated.

2024 BB001 authorizes the expenditure of unobligated funds on deposit in the respective allocation funds in the total estimated amount of two thousand one hundred and eighty-two dollars and fifty cents, but not to exceed two thousand one hundred and eighty-three dollars to reimburse the bomb bank for prior expenditures incurred by the bomb bank, acting for and on behalf of the city for certain costs and expenses described in exhibit A collectively the prior projects that are related to local public improvements, which are physically located in or physically connected to the respective allocation areas pursuant to section 26B3G of the Redevelopment Act.

This ends the reading of the resolutions.

Thank you, Nancy.

Would the Calumet specialty product partners please come up to the podium, please?

And as they're coming up, I'm gonna have a couple questions for them, but I want everybody to notice agenda item number five.

Don't tell me the city's not paying attention to that budget.

We rounded that thing up to 50 cents, man.

How about that?

All right.

2024 A021.

Revised preliminary economic revitalization area resolution for Calumet Speciality Products Partners.

LP located at 1060 North Capital Avenue, Council District No.

Center Township.

It recommends approval of four years personal property tax abatement.

We've had a change on this, and I want to make sure we we get it in the record.

Can you talk about the number of job changes, please?

Introduce yourself and your address.

Yes, uh, Chad Sweeney, would you know because we served as a consultant to uh Calgument on this project on the ongoing project?

Um, when the application documents were first filed, uh the company calculated its employment in connection with its agreement to retain 100% of its employment when it moved to the downtown location at 220 employees.

Um they inadvertently, when they made that calculation, looked at 12 months of employment data and calculated all employees who had been employed at any time during that 12 months.

The result of that is they picked up normal attrition as double counted.

So when someone left employment, they hired a replacement that was counted as two employees as opposed to one position.

So they've double checked the data across multiple data points.

Their actual head count of the time of application in today is 190 employees.

Um this was discovered at the point after we presented the project to the MDC prior to the council presentation.

We wanted to come back and correct this and explain the misstatement.

Um we regret that it happened, but we are, I guess, before the committee today is to amend that application document to reflect uh the 190 employees.

I want the record to show it's been amended from 220 to 190, and in the pre-meeting CAD Met was very enthusiastic of beating that 190 number, were they not?

They were.