2004 - Laserfiche WebLink

Home Browse Search

MOORESVILLE REDEVELOPMENT COMMISSION MINUTES JANUARY 19, 2004 The Mooresville Redevelopment Commission met on Monday, January 19, 2004, at 6:00 P. M. at the Mooresville Town Hall. Commission members present: Chairman Dave Kollmeyer, Jim Ransome, and Mike Haskins. Brian Nelson and Jim Ellis were absent. The minutes were not finished and not ready for approval from the meeting on December 9, 2003. The minutes will be on the agenda for approval at the next meeting. Clerk-Treasurer Sandm Perry gave the financial report (See attached). The Clerk- Treasurer explained one payment had been made for the wastewater bond. She went on to report that within the next week she would be writing checks for $16,714.17 out of TIF 2 for an REMC Loan payment and for 1997 Molex Bond. The history of each redevelopment fund for 2003 was also included. Helen Humes, Morgan County Economic Development, reported to the commission she had made some additions to the annual report (see attached). She said she had added a summary of the eight projects that had been before the commission in 2003. The eight projects represent a total investment of $46,355,000. The total jobs new and retained were 646. She said something that had not been required in the past was the hourly average wage so from now on they will require the company break out by the hourly wage for the different skills and then give us an average. For the eight projects of 2003 we do not have an exact average wage but it comes out, from the information we have, at over $12.00 per hour and that is above the county average. The annual report is attached. Helen Humes also reported the NuGenesis company was in their building and they would be having a grand opening in wanner weather. The site is moving along for Honey & Me Distribution Center. Chairman Kollmeyer told commission members he had asked Lauren Matthes and Jason Semler to give a general report on TOA as far as what taxes they are paying and impact on Mooresville School system. Jason had schedules showing the amount of taxes TOA paid this year as well as what they are anticipating to pay the next eleven years. Their taxes are on two components; real property and personal property and are receiving ten -year abatements on both. Over time their taxes will increase as their abatements reduce. In 2003 for real property they paid $12,050 in taxes and out of that $11,790 was captured in TIF. For the personal property they paid $8,910 in taxes and all of that went to the tax base and none of it was captured for TIF. Over the next eleven years the amount for both taxes increase as the C abatements roll off. So, in 2014, TOA will pay about $177,000.00 in real property and $188,000 for personal property. He commented on the fact TOA's personal property