Madam Director, it's 12 o'clock.

Why don't we get started?

Thank you, President Dillon, members of the Commission.

Welcome to the Metropolitan Development Commission pre-meeting for July 15th, 2026.

We're going to go ahead and read through the resolutions.

Starting with 2026 R021.

This authorizes the Department of Metropolitan Development to use locally available funds and an amount not to exceed $15,000 to demolish a structure located at 2638 and 2640 East 10th Street to facilitate investigation and removal of underground storage tanks.

2026 A014.

This is the preliminary economic revitalization area resolution for Metro Blocks LLC located at 2505 North Sherman Drive, Council District No.

8, Center Township.

Indianapolis Economic Development Incorporated is recommending approval of 10 years real property tax abatement.

2026 A015.

This is the preliminary economic revitalization area resolution for MetroBlocks LLC.

Located at 2505 North Sherman Drive.

That the Department of Metropolitan Development does not support approval of these resolutions.

On Monday, the Metropolitan and Economic Development Committee, which is a subcommittee of the full council, voted to recommend that a moratorium be placed on new data center developments.

While Metro Blocks has already obtained their zoning approval and would not be subject to the moratorium, offering economic incentives at this time is not appropriate.

It is vital that we do not rush these decisions and take our time to have all community benefits clearly outlined and documented to ensure that we are getting the best outcome for the residents of Indianapolis.

I would highly recommend that IDI withdraw their requests at this time and that the Commission not move this forward.

Moving on to 2021.

Oh, who's signed that?

Department of Metropolitan Development.

The Department of Metropolitan Development.

Your department.

Correct.

Not the council.

I'm sorry, can you re restate the question?

I don't understand who provided that statement.

The Department of Metropolitan Development.

Your department.

Yes, myself.

Okay.

But that was not the intent of the City Council.

Moratorium.

Discussion.

Correct.

That moratorium was applied to the zoning.

And that was for new data center developments.

And that's for new data centers.

Correct.

Not things that are in the queue.

Correct.

So Metroblocks have already received their zoning approval, so the moratorium does not impact them.

However, my statement still stands.

I think it is I think that this these resolutions should be withdrawn to give us more time to make sure that we're solidifying those community benefits.

Okay.

2026 A019.

This is for a public hearing.

This is a resolution authorizing an amendment to the 2023 real property tax abatement.

Approved by resolution 2023 A026 at Alpha Lovell, U.S.

Group Services Real Estate LLC 5820 Meritage Parkway Council District Number 25, Franklin Township.

2026 A033.

Also for a public hearing.

This is the final economic revitalization area resolution for C C B C C Operations LLC.

Located at 5000 West 25th Street, Council District Number 11, Wayne Township, recommending approval of four years personal property tax abatement.

Item 6, 2026 A034.

This is for a public hearing.

However, staff is going to be requesting a continuance to the August 5th meeting.

And so in re-notized, I want to make that point as well.

We need to renotice because there was an error.

So we will be requesting that continuance.

That's the final economic revitalization area resolution for ZEMA International Incorporated, located at 6900 English Avenue.

Council District No.

20, Warren Township, recommending approval of seven years personal property tax abatement.

Any questions?

Which one was the one year requesting continuance on what number?

That is item six, 2026 A034.

So August 5th.

August 5th.

Any questions?

So on two and three, will staff be requesting continuance on the US or so IDI is the entity that is going to be speaking on behalf of those proposals.

So I would defer to them.

So would staff have standing for lack of a better word to request a continuance?

Stand.

Yes, I I guess we can request continuance of the items.

Yes, we would that would be appropriate in my opinion.

So I am I am urging the IDI withdrawal their requests today to not move it forward.

If they do not, then I would ask that the commission not vote to move this forward.

So you would staff would request a continuance.

So if I if they don't withdraw it, staff isn't going to make any formal requests.

Yeah, I think this is a little bit of an odd situation with the Indy Economic Development Incorporated.

So I I guess I would defer to them on making those formal requests.

Okay.

Any other questions on the resolution?

Yes, I can acknowledge that.

Yes, commissioner.

Are we able as this group to withdraw but not denying a request?

Maybe a motion to table?

Um you could motion to table it, but the withdrawal would have to come from the entity that actually submitted the request.

So we're going to vote on it.

So we just be voting it up or down.

That would be the limit of what we could do with it.

On the commission's volition.

Or if it is voluntarily withdrawn, that resolves that.

And then if it's then you always will have the option of voting it up or down, also five students.

This is purely introduction to move forward to have a public hearing.

And at the public at that point in time, which our natural schedule would have been probably August 5th.

At that point time, then the debate happens on what we want to do with it, voted up or down, or amend it.

Change.

Today's vote as the agenda came out was just to move it forward and put it on the agenda.

It's an introduction, introduction resolution.

That's nothing more, nothing.

If we voted through today, all it is it takes us to a public hearing.

That's it.

In which case, pros and cons that we discussed.

Correct is asked, blah, blah, blah, blah, blah.

Correct.

All we're doing is put it on the correct.

Correct.

I don't want to vote at your wise one.

My working understanding when I was in the council office is that there were either ordinances or statute they've got everything.

So it is process.

And this could be apples and oranges and DC versus the council.

But when I served on council staff, if the motion was made to table something, the body shall.

I think it's by state statute.

You could not table something indefinitely.

So I'm just curious again.

I'm not trying to do that.

What is the state statute on the top of my head?

Well, I think my clear understanding is counselor and help me.

Here's my clear understanding.

It's in the queue.

It's in the process.

And I think there's a state statute that says it has to be heard.

Up down, how whatever you want to do with it.

At a public hearing.

Exactly right.

But I I'm looking at what's the name of the statute.

Tested interest statute.

And I think it's got three years to be heard once it's right.

Any application that is complete and submitted is governed by the rules in place on the date that that application is submitted for a period of three years.

So vested vested rights.

Um 367 4119 is the citation.

Okay.

So that is the state statute.

And I think that comes into play.

And once again, this is for introduction.

At the public hearing, it can be voted down.

It can be voted up.

It can be amended, but I think it's got to move forward by state statute as a vested right.

I think that's right.

Yeah, I I don't think that this I'm not out of bounds on that.

No, I don't know.

I don't think I don't think that this body can just decide not to consider it.

We could not table it indefinitely.

Yeah, yeah.

We I assume we could vote to continue it, but there would have to be a date stated, sir.

Until what day?

Yeah, yeah.

But is it accurate to say that it'll still be voted on today?

So a vote could be made to not move it forward.

Correct.

That's correct.

It could be voted down.

That's correct.

Okay.

That is correct.

As you say, uh clear as mud, everybody.

We got it.

Yeah, it's not a layer really.

Sorry.

You got it.

All right.

Thank you, Council.

Sure.

All right, I'll turn it.

Any other questions?

No.

Okay.

Turn it over to Bryce.

Uh good afternoon, commissioners.

Um, so on the agenda today, uh, I want to start off with under special requests.

Um, we have received communications from counselor Nielsen that he does plan on uh speaking um during the special requests to ask for a continuance for item 16 on the agenda, and that is for a public hearing.

So that'd be for uh agenda item 16.

The case numbers 2026 C VR 815 amended and 2026 uh CPL 815, and this is uh 305 FinTeil Drive.

Um so this is our for DC blocks.

This will be uh on the agenda for their public hearing.

Um so we just want to make that known that that special request quest is uh will be asked for uh through counselor Nielsen.

Thank you, Bryce.

And he wanted a 30-day or something.

Uh per his communication would be one month continuance.

Uh that might change during his request, but that's what the written communication was saying.

Thank you, Bryce.

Uh under the petitions of no sorry before we move on to I I saw the additional documentation that came for it this morning.

I saw Counselor Hard also submitted a letter.

Is that accurate?

Uh he uh counselor Hart did submit a letter uh uh recommending or uh objecting from that petition.

Correct.

Do you know if he plans to be there in person to make that same request?

I've not heard any direct communication that he be present.

Um the only counselor that I've heard now plans on speaking on that continuing speaking.

Yes, okay.

Okay, thanks, Bryce.

Absolutely.

Uh, under the petitions of no appeal that are recommended for approval.

Um, all uh petitions are ready to go.

Um they all are recommended approval.

Uh there's no remonstrance heard.

I do want to bring your attention to item 15, which is under the uh petitions uh the of no appeal ready for approval that does have uh a list of commitments that are ready to be signed today.

But all nine all nine are ready to go.

Correct.

Okay, thank you.

Uh, for public hearings, as we said, we have uh two on the agenda um that are scheduled for public hearing today.

The first one we just discussed, which is item 16.

Uh this is for uh 305 pin tail, this is for DC blocks.

Uh the second petition um is ready to roll as well.

There will be um there will be a presentation.

This one just be uh up front.

This one was actually uh transferred directly to MDC uh from here examiner.

There is some timeline um and for federal funding that they're running up against.

And so um the hearing examiner did transfer that case directly to the MDC, so this will be the first hearing.

Uh we do not have any uh remonstrance on record for the case, and uh staff is recommending approval, uh, but I just want to make that note as well.

Any questions on those cases?

So your recommended approval on 2026 ZON 057?

Correct.

And your position on 2026 C VR 815, 2026 CPL 815 is uh staff is recommending approval for both with the commitments.

Thank you.

Any questions from members of the commission?

Thank you.

Thanks, Bryce.

All right.

Uh we do have one pre-meeting presentation today.

I'm gonna turn it over to Kathy to introduce the presentation.

Uh Kathy Bad were just here to present um presenters from entropy.

Oh, let's see.

The project is located at 2505 more than Ryan.

They're requesting a 10-year real property abatement with a 60% straight line deduction for 250 million dollar investment, and then there's a 15-year enhanced personal property abatement with a 90% straight line deduction for 406 million uh personal property investment.

And then they have an additional possible investment 7.2 billion in tenant personal property.

I'm gonna let the company explain that part to you.

Our development partners and item have been uh working directly directly with the counselor on the inclusivity, which at this point calculates to be 22.5 million that will be paid over a T week period.

Um we have Ernest and Scott with us today, but prior to this coming before us, our development partner, Andrea from I is going to just explain how we got to the incentive package.

So I'll turn it over to Andrea first.

Okay, thank you, Kathy.

I appreciate it.

So thank you, Commissioner.

Good to see you.

Um just to uh maybe provide some clarity and pieces on that.

Um, you know, we as the economic development arm, but city adjacent entity uh are a group of economic development professionals that provide uh guidance on community economic impact.

We assess detail uh deals uh based on a standard in which we assess all projects.

So that's why we're trying to do you know, many times to be able to have that same standard and the same utilities that we look at for companies, whether they're small or larger scale investments like this.

Those terms then go through the DMD process, but I want to be clear that the petitioners are uh you know our company, those are the ones who are receiving the incentives.

We are not dependent to be that benefits nor receives or has any of that, but provide this fuller framework and if you're clouding clear um through all these processes, whether it's this body, community, others, that there needs to be a holistic understanding of these projects.

So I hope today this will provide a little bit of that baseline so that you with the decision-making body can make that informed coalition.

Okay, list get to the heart of the matter.

Can you back up please?

Please where is the indie economic development on this?

Frankly, the petition.

Yep.

Oh, okay.

I understand they're the petitioner, but you're pushing the incentive package.

And you put it on the schedule for today.

Yes, but as any other project or company that we would have to do.

Are you for moving forward today?

We are moving forward today and presenting uh the economic impact of this project.

Yes.

All right, so you're forward to go forward today.

Yes, I feel it's important to talk about I need a yes or no.

You are forward to go forward.

We are for it to go forward to be heard.

Please do your presentation.

Okay.

So just to make sure how we got here, when we come into the picture, there has already been a host of um due diligence and kind of guardrails around the land use, so no incentive can be um beyond that.

And then this is just a reminder of how data centers are you know regulated from different bodies across the state and local uh entities for a lot of their environmental factors.

This is the part that after that land use is granted in which we assess the economic impact.

Going to the next slide, when we look at the due diligence that we look at to be able to come to our assessment, it's a mix of the financial and operator history.

So where do they have other projects that show a track record of good standards?

We look at utility agreements to make sure that it is more that capacity is conserved and it's a way that they're protecting their clients and ratepayers.

We look at workforce commitments, you know, things like PLAs and other things the company has signed.

We look at the community benefit package and if they'll be going above and beyond that.

We look at target industry in this sense, IT, and we look at the size of the capital investment, and does it have a future type looking economy, right?

Will this be here in 10, 20, 30, 40 years to continue to draw into that economy?

So then going to the next slide, looking at the actual deal terms and how we got to that.

So you'll see the real property tax abatement.

This is on the building as well as on any of the improvements to that building.

As you'll see, this is a relatively standard tool that we use for a whole variety of developments.

It is 10 years because you're meeting some of the higher end of the capital investment in which we score projects, and it is 60% flat deduction.

So it is looking to help offset from the financial stack the initial large scale investment in the project.

This is why we do incentives for some of these longer term projects, but it's also looking to immediately recoup tax benefit for the city, right?

To have them pay immediately from day one.

Sometimes we do scale, you know, abatements going from 90 down to 10.

There was a purpose to do a flat deduction that way.

Looking at other tools that you see at the MVC that we are not, you know, getting into the state tools in a minute, we have a 15-year personal property abatement.

So that is a 90% flat deduction, and this is what we call enhanced abatement.

So for certain priority industries, uh, we have the ability, you have the ability to approve something beyond 10 years, up to 20 years.

But again, this is an abatement and not an exemption, so there will still be tax paying on day one.

And also for a technology that we're still trying to understand, uh, we want to make sure that there are important checkpoints.

So why data centers live in long-term cycles, their contracts are usually signed for 10 or 15 years.

This is to help offset that first cycle.

Uh, beyond that, there will be a checkpoint at year 10 in front of this body to make sure that the technology is continuing to meet the standards and that they're in compliance.

So it is an enhanced factor for the city to have uh a control and checkpoint over a technology that we are working through and looking at possibly having the first developments.

As you know, the 5% of any tax savings in this case, because of the significant cap and investment will be quite large.

That again is the 22 and a half million dollars, which exceeds 5% with that checkpoint in 10 years of an additional 10.

Why we built that into the suggested terms is technology, the chips, the things inside, may exponentially increase in value.

If we were meant or do a capture more tax revenue, we want to make sure that the inclusivity would match that.

So this is what's putting in that checkpoint so we can recoup additional inclusivity money should our calculations change over the next five to 10 years.

So again, why looking at this type of development and why we did not tap into some of the authorities that the state also grants us.

So just to be clear, why you don't see a sales tax exemption, that is not within our mandate, that is the state's decision should they move forward that application.

The state does grant the ability to do a 40-year tax exemption.

We feel like given the value of locating in Indianapolis, uh, a full tax exemption would not be appropriate.

We also feel from why this is a strong capital investment.

Um we need to make sure we have guardrails and we can't see to the future to 40 years.

So we did not utilize that tool.

We also feel like tax impact is a signature of why data centers can be valuable for a city to provide funding for budgets for programs for things that make citizens' lives better.

Um, and that without recouping some of that tax and offering a full exemption, we're not actually capturing the value that is inherent in these projects.

So incentives can be a tool to uh get development that can be competitive, that can be long term, but also um, you know, and in this case it's providing regional competitiveness.

This is housing, critical um data and features that our other companies in the area need, but it also creates a contract.

So it's competition in some sense, but it's creating a contract and binding this company with the technology that we're continuing to evolve and look at to checkpoints to guardrails to making sure they deliver and that they're incentivized to develop the property fully to the highest value that it can do.

So we look at something like this.

I mean, it wouldn't have been proven in the 90s to you know incentivize telephone booths, but it would have been for cell phones.

So when we look at the digital infrastructure, where those trends are in our economy, this is a significant area of growth that would set up that tax base for Indianapolis to continue to prosper in the future.

If you go to the next slide, I actually there's a one pager right here that was handed out to all of you.

This is a lot of information, but this breaks it down to what this means from an economic impact tax and community statement.

Let's go back the slide.

Yep.

I want to be crystal clear.

Yes.

Today is just the introduction.

Yes.

And then we will set this up for a public hearing.

Yes.

So between today on the introduction and the public hearing, which would then again be again another up or no vote.

These will continue to be discussed, and we can amend these if we don't think they're appropriate.

One way or the other.

Is that correct?

That is correct.

Okay, I'm gonna make sure everybody understands it.

All right, go ahead.

So getting into what this means, and I really appreciate collaboration from DMD, the assessor's office, the controller's office, and the treasurer's office.

Um, these are the terms of the deal when you think about the scope of investment.

So again, it's 250 million dollars in real property, it's 406 million dollars in company, this company putting in personal property, the racks, the other structures, and then 7.2 billion dollars where the company's tenants would put in those chips and other valuable materials.

So a very um, you know, all altogether 7.8 billion dollars.

If you look at the current partial of land, these are some of the things we assess that impact.

Um you can see the current assessed value at 137,000.

Um, by the time the project would be complete, it would be 83 million dollars worth of land and improvements.

So, right now that parcel generates um $3,700 of taxes.

Um, even after the abatement, during the abatement turn, it would generate $900,000 a year in taxes.

After the abatement turn ends, um, this would be $2.2 million in a yearly tax payment.

So overall, if it were to stay in the same state, it would be $112,000 over 30 years.

If we look at the 30-year production of the abatement term and then another 15, so basically doubling the long-term kind of lifespan of this, it would be 43 million dollars on just the real property tax on just the the land, the parcel, and the building.

Getting into what the abasement abatement actually means in real terms.

So looking at the 10-year real property and the 15-year personal property, by year five, that would put this company in the top 10 tax paying entities in Marion County.

By the time the abatement done, if everything was still the same, it would put it as one of the top two taxpayers in Marion County for this single project.

Um over the term of the abatement, $51 million would be paid in taxes to the city and county.

Um, I want to parse out a little bit some of these bigger terms.

The company itself would be receiving $56 million in tax savings.

If you include that tenant over the course of the abatement, it is $399 million.

And I understand that is a very big number for tax savings, but to put it into scope, um, if you look at the whole term between that and after the abatement, let's say we look at that 30-year life cycle again, they would be paying 300 just shy of 385 million dollars in taxes.

So we look at the generalized tax rate, and just to note that money is new revenue that is not taken from somewhere, that is money that is coming from this development.

Um, and we always look at proportion, right?

So by 399 million is a lot, this is proportionate to 7.2 billion dollars uh of a total or 7.8 billion dollars of a total investment.

To put in perspective IDI last year, all of our qualified investment, everything you all improved was a little bit over one billion dollars investment for the whole year.

So that again is a different size and scale of investment and why we did this additional scrutiny to understand what it means.

Question?

Yes, please.

So on that top right value of land process return on investment.

So that's the tax paid and the tax saved on real estate property tax.

It is yeah, it is currently what that parcel generates.

That's real estate property.

Real estate property, that is only real estate.

One below it value of the abatement is all forms of tax.

All forms of taxes, yes, it's cumulative.

Thank you for the clarification.

And then again, what does that mean?

When we look at our our taxing units, right, where does this money go?

Um, schools in Marion County would receive 25 million dollars during the term of the abatement.

Over the course again of that 30-year lifetime that we look at, it would be 186 million dollars to schools.

Libraries would be 2.2 million with another uh again over the 30 years, 16.5 million.

Um, and the county general fund again, you know, would recoup that um 384 million dollars uh over that time period.

Again, the jobs are at 125% of the Marion County wage, and that does not include tenant jobs, so there is a workforce component in addition to the more significant capex.

I'll pause for a minute because I know that is a lot of dense information, but I hope this handout will be something you can continue to reference.

What will be helpful?

You've been adding your notes on in several places.

30-year total projection, 30-year with no development, 30 year, 30 year.

I would suggest to you if it gets on the agenda that you need to focus on more of a 10-year window.

Tell us what's going on in 10 years.

In 10 year increments, yeah.

Yeah, I assure you in 30 years, I ain't gonna be around.

So I think you have a focus on 10.

Okay, and it gives everybody a better idea in the short-term okay what we're doing.

Okay, versus the 30-year deal.

That makes sense.

We were looking at kind of a longer term.

I would say then if you look at that first number, that 51 million or shy of 52, that would be the taxes paid over the abatement term, which is between that you know 10 and 15 years given the accommodation.

But well well noted, and we will be prepared to do that.

Yep.

Any other yeah, please.

So on your due diligence grid, um community benefit commitments.

Yeah.

Are those are those reflected in this project by the numbers, or is that something different?

On top of that.

So here actually let's go.

There's a little box here at the bottom of the one page here.

If we could go to the next slide, that is on top of it.

So that is purely tax revenue and how that is divided.

Community benefits would be that inclusivity plan, that is the 5% savings.

So again, that would be that 22.5 million dollars that is earmarked specifically for uh that community, and then it would be that additional checkpoint in year 10 to see if that additional 10 million dollars would be um you know added on for that full 32.5 million dollars over the period of the abatement.

Um defined as so that's a great question.

I would say some of the work we've done over the past month, and I appreciate uh to those who have been open to to hear and have a dialogue about this specific issue that the residents themselves of Brightwood, the people who are nearest and adjacent to this property, need to be centered at that conversation.

So we've been going through various uh projects and things, whether it is um you know property and business owner support for those in the direct vicinity, and you know, more direct payments for that uh key infrastructure, so ones that they're choosing, certain alleys, certain lighting, certain tree trimming things that make that area better.

Um there's a natural park that would need some security.

So we are finalizing that, and I would say that is the work that is the most important between now and should there be you know a final hearing on this, so that there would be a workable you know plan that centers them.

So that is the work that's 22 million roughly.

Yeah, 22 and a half million.

The community is not Marion County.

It is not Marion County, it is specifically I would say Brightwood, the residents of Brightwood and that neighborhood, and then possible and then on again going back to your due diligence grid, uh, workforce commitments.

Yeah, is that captured in this bottom right grid?

That is the the minimum wage that they've done.

I would say the company was gonna speak to they've signed a PLA, they've gone above and beyond just our standard requirement of 125% Marion County wage.

But yeah, that would be something they've they've worked with.

Okay.

Thank you.

Last anybody have a question.

I have one more.

Please.

Who's gonna administer the funds?

22 million.

That's a great question.

That is the work that we are doing right now with the community to have a trusted partner entity.

Um, I want to be respectful of those, but that would be information we'd have to use soonest um to do that.

It would not be IDI, it would not be the company.

That's an important fact.

It is very yes, incredibly important, and I think that is a strong focus right now.

Gentlemen, please introduce yourselves.

And we're gonna run out of time, so get to the heart of the matter.

We'll do we'll do so quickly.

Yeah, good to be in front of you again, Ernest Popescu, uh CEO of Metro Blocks and my uh colleague and partner Scott Cousins, CO Metro Blocks.

Thank you.

We've printed out a 30-page handout.

We're gonna go through four or five slides.

Um, and we'll again try to do so quickly so we can uh accord time for questions, which I think is probably most useful at this point, sir.

Um we we tried um as best we could to hire locally um HWC engineering Weddlebro is our uh general contractor.

We've gotten the support of John Hooker and the uh Central Indiana building trades.

We're working through a PLA and our commitment is to try to attempt to hire at least 50% staff Marion County.

Um we're working through the PLA and uh position or is it still being negotiated?

It's still being negotiated right now, yes, sir.

But your intent is you're committing to a PL.

Absolutely.

Our intent is to partner with John and Wetlebros and sign a PLA to hire local union.

Thank you.

Um additionally, we've met with uh some of the carpenter carpenters um trade um offices, and uh we've committed to also helping develop a training program to up level and upskill uh the local labor.

Um, and then we also intend to partner with IDI to try to hire local university grads.

Again, the intent is to try to make this a local project as best as we can.

Thanks, Gabby.

Um I'll do this quickly.

Our background, we're a small company, we're not a hyperscaler.

This is intended for local data center, uh, last mile data delivery.

Uh it's intended to be multi-tenanted.

Um you know, beyond that, again, the the focus is on local um local uses, and I think there's a slide there after this, yeah.

Um that's healthcare systems, it's educational institutions, uh, you know, companies that require low latency uh for local last mile data delivery, uh, uses of the data is you know um email, analytics, um, secure business applications.

Again, our focus isn't to be a hyperscaler for self-serving purposes, our focus is to try to bring uh multi-tenant data center infrastructure to the community with local applications as best as possible.

These are some of the differences between our project and some of the more traditional hyperscaler projects, you know, obviously the scale in terms of um thousands of acres or hundreds of acres to the 15 or so acres, power consumption in the gigawatts, you know, our project is uh going to receive about 75 megawatts of total power from AES.

Uh water uh to closed loop water system, so there will be very little to no water consumption after the initial fill.

Um there's no groundwater draw.

We're not intending on using any groundwater, and again, the appearance we've taken a lot of pride in trying to develop something that aesthetically uh will integrate well into the community and look more like a commercial office building than a monolithic data center.

So that water, that same water is cycled in the you you you should think of it as a refrigerator coil essentially.

Uh and that that water is in the closed loop circular system.

That's right, with very little water loss.

I think it's estimated at around 5% annually, and it gets topped off on an annual basis as needed.

Thank you.

Yes, sir.

Go ahead, Scott.

Yeah, thank you.

Um I think thanks, Bruce.

I think that's important for I I think we we we we you know, we uh we were asked why Indianapolis a few times and and why Martinville Brightwood.

Uh you know, one of the things that I personally take pride in, and again, you know, we're a company of 20 or so growing.

Um environmental um responsibility is critical to me, and there's a lot of greenwashing in the industry.

I can't think of a better long-term sustainability play than to give a former industrial site a second act, a second use.

Um that's part of what attracted us to the uh the this this parcel in particular.

Also, with the fact that AES is able to provide and service it power, those are really the two things that you need for a data center, obviously, in the land, physical infrastructure, and the electricity to to be able to at least that capacity out to tenants.

So, you know, again, there's more data as to why Indianapolis, but but specifically that that parcel, I think what was important to me personally and to us collectively as a small company was to be able to give this parcel a second life, uh give it a second act and have it be a uh you know good standing corporate neighbor to the local community.

Yes, Commissioner.

Quick question.

If you're talking about your tenants, but not talking in a traditional sense where you're saying I'm ranking you just 43 square foot over here.

You're renting capacity in your equipment.

That's your leads.

Am I correct?

So slight correction.

So the development provides the space and power, the tenants provide the hardware.

So what we're providing to the tenants is an unfurnished apartment, if you want to look at it that way.

So they they will bring their own furniture, which in this case happens to be the hardware.

So what we're providing them is a lease as the developer landlord for their hardware to be able to connect to literally circuits, plugs for power in space.

So on the individual tenants going to come back and say, okay, I'm putting in 800 servers or whatever the case is, I want personal property that's on top of what we're already talking about.

No, that that's a great point of clarification.

So what we tried including that 7.2 billion is the tenant's personal property hardware investment, which we will administer.

We as the company are signing up for the inclusivity program, the inclusivity commitment, which we will administer on behalf of the tenants.

So it won't be an additional abatement ask from the tenants.

Yes, sir.

All right, so I wanted to kind of consolidate and put in front of you the details of the project here.

Um the site's about 15 acres, total building areas 332,000 square feet.

We're uh going to invest 250 million in real property plus 46 million in owner personal property, and then we've heard it before.

Um and then we expect the tenants to put in another 7.2 billion dollars worth in worth of investment in IT and compute equipment over the course of the 15 year abatement.

Um it's 35 new jobs uh at an average of over over 46 dollars an hour, and then regarding the timeline for development, um we expect to have first power Q1 2029 with a full build out Q4 2031.

And one point of clarification our intent obviously is to develop as quickly as possible.

You know, we're at the um mercy of AES being able to provide us the power, and obviously you know the various uh you know procedural applications in order to bring the data center to to market, but all right.

Now let me touch on some of the things that we've committed to.

Uh we're installing enclosures and acoustic mitigation to meet noise limits at the property line.

All mechanical and electrical equipment is going to be screened from the public right away and from the adjoining properties.

Equipment testing will be limited between the hours of 9 a.m.

and 6 p.m.

Um our development is fully consistent with the information we shared with the community back on October 1st of 2025.

And before we ever get to an improvement location permit, we're committing to a noise methodology report with property line decibel monitoring, and we'll submit final site landscaping and photometric plans and elevations for administrator approval.

And all in all, we've gone above and beyond what's required because we take being a good neighbor very seriously.

Um I wanted to show some of the campus renderings to see what it looks like.

I think Ernest kind of described the you know pleasant office aesthetics, um the landscaping, the screening, the massing, it's all designed to fit inside of the in with the neighborhood.

And then uh something I wanted to point out is on the top left picture here, but the generators are all tucked behind the building, fully enclosed and sound attenuating screening.

We talked about the community commitment already, um, but I wanted to talk about that a little bit more here.

Uh so we're committing to 22.5 million and community benefit and inclusivity funding for the first 10 years is 4.5 in the in the first year, 2 million in the subsequent years, um, and we talked about this, but it's gonna fund the local um local neighborhood.

Um I want to be direct about our reasoning here.

We chose the abatement route, not the exemption route.

Uh we were choosing to contribute more than the minimum of five percent because good being a good neighbor is really important to us, and um, in terms of the importance of this incentive, it's it's hugely important.

The the project probably wouldn't move forward without it.

Um we're gonna have to attract tenants who have lots of options nationally for data centers, and this would be a key factor in them considering um investment here.

And maybe if I can add one thing, lots of options nationally, but lots of options locally as well.

Um if outside of Marion County, the same abatements, exemptions are awarded, it would you know make basically make this uh unattractive to potential tenants.

So these incentives are of critical importance uh to data center development in general.

Uh gentlemen, we're out of time.

That's all we have.

If this passes today, and if it gets on the calendar, you need to get us this presentation early.

Um if outside of Marion County the same abatements exemptions are awarded it it would you know make basically make this um unattractive to potential tenants so these incentives are of critical importance uh to data center development in general uh gentlemen we're out of time that's all we have that was that if this passes today and if it gets on the calendar you need to get us this presentation early we want the same deck we want to see exactly what you're doing get it to us early let us have a chance to study it before the public hearing that way you're not handing us something walking into the public house fair enough I think what we've handed you today would probably doesn't change but maybe there's maybe there'll be some modifications make sure yes you might add to it uh jobs during construction yeah yeah for that that's a great point five jobs I assume it's an ongoing correct jobs during the construction period and what that period is yeah absolutely that that period will be three to four years and and and then there are estimate on jobs and three three to five for that period yeah and where we're at the ELA agreement yeah absolutely we we expect that to be in place understood uh thank you we've got a hearing at one o'clock thank you members of the commission I don't think we have any more questions any more questions we we good all right thank you and then who's John maybe hearing I don't know I was gonna take these down before yeah I will I have no idea