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MOORESVILLE REDEVELOPMENT COMMISSION MINUTES THURSDAY,APRIL 21, 2011, 7:30 A. M. MOORESVILLE GOVERNMENT CENTER II The Mooresville Redevelopment Center met in regular session on Thursday April 21, 2011, at 7:30 A. M., at the Mooresville Government Center and after the meeting adjourned went in to executive session. Commission members present were: Chairman Harold Gutzwiller, George Watkins, Brian Nelson, and Tim Corman. Commission member Mike Haskins was absent and Attorney Currens was absent. Morgan County Economic Director Joy Sessing was present. A motion was made by Commissioner Watkins with a second by Commissioner Nelson to approve minutes of March 10, 2011. Motion carried 4-0. i Jeff Pipkin of Morgan County EDC presented a request for tax abatement for Angermeier & Warthen LLC (Capital Adhesives &Packaging Corp.)located in Flagstaff Industrial Park. Abatement is for a$400,000 expansion to real property. They are building a 5,000 square foot addition with 22 foot high ceilings. The contractor is Sunco. They will add five additional employees to theft twenty-nine current employees. They will hire two higher management employees with a$60,000 to $90,000 a year package and three production employees. Mr. Angermeier told the commission the problem they have now is the building is half manufacturing and half warehousing. They are limited to what they can do and there are markets they could go into. They need additional silos inside the building. Jeff Pipkin told the commission the company scored a fifteen on the matrix and qualify for a six year abatement. Harold Gutzwiller asked if they were asking for abatement on production equipment also. Mr. Angermeier said they didn't have full costs yet but probably will be back at a later date. A motion was made by Commissioner Nelson with a second by Commissioner Corman to recommend to the Town Council this abatement had no adverse impact on the TIF 2 area. Motion carried 4-0. A motion was made by Commissioner Watkins with a second by Commissioner Corman to approve Commissioner Chairman Gutzwiller as a signatory for the resolution. Motion carried 4-0. Town Clerk-Treasurer, Sandra Perry, gave the fund report that is attached to the minutes. A motion was made by Chairman Gutzwiller with a second by Commissioner Colman to adjourn the meeting and move to executive session. Motion carried 4-0.