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EDC Director Helen Humes presented a request from Linel Signature for a tax abatement. The company is being mandated from IDEM to add a powder coating line by March 1, 2002. This project was presented to the Redevelopment Commission on Monday, October 29, 2001. The Redevelopment Commission voted to recommend a ten year tax abatement to the Town Council. The Redevelopment Commission found this abatement would not adversely affect the financial status of the TIF District. Linel has been in operation since 1979. They currently have one hundred employees. The sales per year total thirteen million dollars. They currently pay $45,000 per year in property and personal taxes. The expansion would cost $1,163,000.00, which includes a 10,000 square foot building addition at a cost of $200,000.00, $800,000.00 for the powder coating line, and new equipment in the amount of $163.000.00. This expansion will add thirty more jobs. Mr. Bob Sloane addressed the council stating he was one of eight partners. He explained about the addition and the powder coating process. Motion was made by Councilman Dolen, second by Councilman Clark to approve Declaratory Resolution #5 to grant a ten year tax abatement on property and equipment to Linel Signature. Motion carded 5-0. Motion was made by Councilman Clark, second by Councilman Dolen to approve payment of the claims. Motion carded 5-0. There being no further business to come before the council at this time, a motion was made by Councilman Dolen, second by Councilman Clark to adjourn the meeting. Motion carded 5-0. The next meeting of the Mooresville Town Council will be held on Tuesday, November 20, 2001, at 6:30 P. M. at the Mooresville Town Hall. To~ Wartl~n, President ATTEST: Sandra R. Perry, Clerk-Treasurer November 20, 2001 The Mooresville Town Council met in regular session on Tuesday, November 20, 2001, at 6:30 P. M. at the Mooresville Town Hall. Town Council members present were: President Tom Warthen, Mark Mathis, Andy Pygman, Toby Dolen, and John L. Clark. No members were absent. Town Attorney Tim Currens was present. Jeremy Town from Mooresville Church of God gave the prayer. Motion was made by Councilman Clark, second by Councilman Dolen to approve the minutes of the November 6, 2001 meeting. Motion carded 5-0. Judy Anderson, tabled from November 6, 2001 meeting, wanting to hook onto the sewer on Slideoff Road. Mrs. Anderson was not present, this will be on the December 4, 2001 agenda. Public Heating for additional appropriation for $14, 371.00 from General Fund: This money was from insurance reimbursement on a totaled police car. There were no public comments. Motion was made by Councilman Pygman, second by Councilman Clark to approve additional appropriation of $14,371.00 from the General Fund. Motion carried 5-O.