OurWeek The Grant County Record in Grant County · Development committee · 2025-01-10 · full transcript https://www.youtube.com/watch?v=ZDYyGinIjN4 Exported Fri, 14 Aug 2026 22:37:57 GMT Source: YouTube automatic captions. Copied into the combined index from the marion-city-council-indexed report; same text, key prefixed by body. These transcripts are machine-generated. They garble proper nouns badly — company and personal names especially. Watch the recording before repeating any name, number, or quotation. The video is the record. ============================================================================== Indexed at https://ourweek.in/grant-county/reports/grant-county-record 0:00 e 0:48 okay good afternoon everybody um my name is Gary for I and I'm calling the development committee meeting together 0:56 uh this afternoon for the purpose of tax abatement on C Cafe Valley and we have all of Cafe Valley's uh staff here and 1:05 representatives and Baker Tilly and Barnes thornberg and economic development from the city and council 1:12 members and uh committee members uh Andy wton uh David Kane's not here Erica 1:19 Divine is here Mike Klein is here and President Nick McKinley is here so um 1:26 I'm just going to go ahead and get started we did have some discussion during during the council meeting um of the complex issue of this tax abatement 1:36 um there's a lot of things involved in it and um a lot of council people wanted some more time to go over this with all 1:43 the representatives and maybe you could explain it in uh what I'm going to say layman 1:49 terms and not uh Tiff terms legal terms Economic Development just plain 1:57 and simple we've got a a $20 million 300,000 um tax abatement that we're um 2:07 going to wrap up into Cafe Valley I know some of the history back behind it as um I've talked with Jacob uh with it before 2:16 and this has got inherited problems that um I think that we're trying to take care of and save the city some money on 2:23 the on the Tiff bonds and the U tax abatement so um I would like to first 2:29 let um Jacob kind of streamline this and put this all into perspective in layman 2:36 terms of why we're going on the 20, 300,000 and actually what's involved in recouping the money that we're going to 2:43 have to put out as a city or save the city from putting out uh um money yearly to encapsulate the uh interest on the 2:52 bonds or the Tiff money so Jacob I'm gonna let you start it off for me yeah um thanks Gary you know I want 3:02 to probably defer to uh Joe and his team there on kind of I guess the recommendation coming from the mayor's 3:10 office I would just say from from Cafe Valley's perspective you know there's there's not a lot of instances where what you know 3:19 we're asking for would make a lot of sense but this is one of them and so um we we're not trying to ask for something that is um really harms the city or or 3:28 doesn't doesn't line with kind of the scope of the project and those kind of things and so um we we think this kind 3:36 of provides some relief to Cafe Valley on the heavy property tax burden they already have here in Maran without doing 3:45 any harm to the city and then also sets uh the city up along with Cafe Valley to hopefully realize some savings um 3:54 sometime in the next you know 18 months or so if we can get these bonds refinanced so um again really thankful for the partnership and dialogue we've 4:02 had with the city over really many many months now and um happy to help any way I can um to help everybody get 4:10 comfortable with what's being proposed here because as you said Gary it is it is quite 4:18 complex okay um Jacob who do you want to uh uh deflect to on this to uh answer any questions on it did you say 4:26 Joe yeah I think I know Joe's prepared to kind of talk through again some of the technicalities I think of of what the proposal is and if there's any 4:34 questions related specifically to Cafe Valley and what their plans are I'm happy to kind of take those on okay I 4:42 appreciate it thank you yeah all right there we go okay so I'll make a quick point that I think was mentioned at the 4:51 very end of the council meeting uh on the what was it the seventh um that I want to reiterate to start this conversation which is that um for the 4:59 city perspective we feel this is fully appropriate um not only because Cafe Valley has an existing issue that 5:07 they're having to pay a lot of out of-pocket cost for but just on the basis uh if we're just taking the tax abatement on its face and looking at it we feel it's appropriate because at this 5:17 level investment $20 million and 100 jobs added at $19 an hour um standard 5:24 Economic Development practice throughout the state of Indiana whether you're in Grant County or any other county in the state um would say that I think a 10year 5:32 declining tax payment would be appropriate so that's 10 years starting at a 100 working your way down by 10% at a time the problem with that normal 5:41 Arrangement would be that if you apply that to our situation because of the baggage that we have existing um you get net out to like a 5:48 $245,000 net abatement um value for the client Cafe Valley in that situation um whereas typically in another County in 5:57 another set of circumstances that would net you somewhere close closer to a million dollars um in benefit to the business so what we did was we 6:05 originally looked at a structure like that we found out that because of the existing baggage um we needed to increase the levels to try to get to an 6:13 outcome that we thought was appropriate and that's why we got to the 12year 100% abatement which again to reiterate what we mentioned last uh time we met uh nsy 6:22 out to about $620,000 in net benefit to Cafe Valley in terms of uh tax incentive 6:29 which is still well below what would happen in a traditional case where these other external factors did not apply so 6:36 that that's kind of the basis for why we feel this is an appropriate abatement at this time okay thank 6:43 you I'm GNA open it up sorry I'm going to open it up to uh the council members and the committee members if you've got 6:50 questions on this um please feel free to ask any of the representatives 6:59 thank you guys I don't know if this is for you guys probably not as much as it is for us what kind of precedent does 7:08 this set we do this if someone else wants to do something similar um I mean my thought is we look 7:17 at it Case by case doing it once doesn't mean we do it all the time I'm just what 7:23 kind of precedent do we think this sets 7:33 I think that it's it's a fair question I would say that this set of circumstances and I haven't been practicing ellent for I can't say I have 30 years of 7:41 experience because I'm not 30 yet but um in in my experience in Economic Development and working with tax abatements I have never seen a situation 7:50 where this set of circumstances applies so I think it is truly a unique set of circumstances which requires us to go above and beyond what I mentioned 7:58 earlier is kind of traditional precedent for this type of project I'll also point out and and again different set of circumstances different project 8:06 different investment level different client but this Council not this iteration of the council but this council did vote to approve kind of a 8:14 super abatement for GM a couple years ago which exceeded the traditional 10y year 100% abatement level um so it's not necessarily new for this Council to 8:22 consider those levels of abatement um when circumstances apply and it's appropriate 8:31 if I could add to I mean my perception on this is I think it's actually a good precedent um because it's allowing this Council this 8:39 Administration to what I call it fix what's happened um I mean it for 8:47 layman's term it's almost like you take over someone's mortgage at 8% am I stuck at 8% the rest of that mortgage or do I 8:54 have the ability to refinance that later U maybe at 4% and really I think I think this is what gives us that opportunity 9:01 o I view it as a positive it is a very unique situation but it's a positive precedent to say that okay if things the 9:10 conditions change and they didn't turn out how we thought okay well let's use this opportunity to bring it back to the 9:19 advantage for the city am I correct on that yeah absolutely I'd also add I think that uh 9:27 Jacob and the team at Cafe Valley do deserve some level of credit here um they've been incredibly patient with the city as we've tried to work through and 9:35 understand how in spite of the set of circumstances we're under we get them the correct kind of incentive that's appropriate for their investment I think it's also important to recognize that it 9:43 sets a good precedent to inves in companies like Cafe Valley who in spite of the circumstances they're dealing with with their existing debt structure have continued time and time again to 9:52 invest in Maran and add new jobs in Maran and our one of our largest employers in this city and and by all accounts do a very good job of being 10:00 good corporate citizens for our uh city of Maran here so I think it's it's great that we're rewarding that with this type of abatement and and trying to work 10:07 through sins of the past to to help alleviate their financial burden if I could maybe just add to um 10:16 you know tax abatement can be a very straightforward concept um if we were looking at a you know new development on 10:23 Greenfield property it's it's really a simple calculation of what are the tax savings and then how does that imp impact either the Tiff areas or the the 10:32 property tax base for the city there's a couple things that can complicate tax abatement and we're we're seeing that 10:39 with Cafe Valley and to Joe's point we saw that with General Motors as well one is tax batment is very simple with 10:47 either new personal property so you know manufacturing equipment or um with a building when you start to layer an 10:55 investment of new equipment um on top of you know existing equipment at a at a 11:02 facility the abatement on the new equipment can start to bleed into the existing equipment and that can just cause the abatement to do different 11:11 things than what it would do um you know with with brand new equipment another factor and we saw this with GM as well is when you have tax 11:18 abatement but it's operating within an existing Tiff structure where there's existing debt obligations outstanding that can also cause um you know the 11:27 benefits of the tax abatement different than what they would otherwise be if there wasn't an existing structure out there so I think when you have kind of 11:35 those exua circumstances as we do here you know those may be tax abatements where you do want to look outside of kind of the traditional structure um 11:43 whereas you know other projects it may make a lot of sense to stay within that you know traditional 10year declining abatement so just a thought 11:55 there does any other Council people have any other question questions or comments um this will be a question for 12:03 Cafe Valley um if it's a $20 million investment in equipment 12:09 how how um how long does it take them using the equipment to get full payback on that $20 million investment and then 12:18 how long is that amortized out is the equipment of no value in eight years and we're still giving them a a you know 12:26 100% tax abatement for four more years years after the equipment's life is gone I work in manufacturing engineering and 12:34 we've did a lot of work and it's based on how quickly that's amortized out and also how quickly they start earning 12:42 profits off of that investment and I'm just curious how that all evens 12:56 out this investment are geared towards a new production line so obviously th those components obviously will have to 13:04 be maintained and all those kind of things but certainly the intent would be to keep that line going for at least a decade I think most relevant maybe to 13:12 your question as it relates to this conversation would be the way the assets change over time in terms of in terms of 13:21 tax values so I want try to answer it that way a little bit and and maybe kick it to Andy and then if that if that doesn't answer your question we come 13:29 back and try again but so in Indiana kind of despite no matter how old the asset gets right if you had it for you know six 13:37 years or 60 years uh the taxable value never goes away on that in Indiana as long as that that asset is in use so um 13:47 the idea that you would be evading something that no longer has taxable value doesn't really happen in the in Indiana we call it we call it the 30% 13:55 floor um there's a little bit more Nuance than that but in once an asset is depreciated for tax 14:02 purposes um that's not really relevant it still is tax at 30% of the value that you acquired it at so that all goes into 14:12 kind of how the abatement itself functions um you're not evading something that does not also have 14:20 taxable value if that makes sense I don't know Andy if you want to put a finer point on that uh no I think that was perfect I mean um my understanding is this is like 14:29 six six to eight year useful life equipment but to Jacob's Point it'll depreciate down to that floor and you know if it's there for 15 20 30 Years 14:36 it'll continue to pay taxes at that level as well thank 14:44 you if we had um if we choose not to do the additional abatement when would these bonds have been paid off the 14:53 original ones because we're talking about doing a refinance and then correct it looks like 15:00 that's putting that out until 2038 at that point the original bonds and then the new issue amount would be paid off 15:08 correct so um you should have a copy of our numbers here um the the two bonds that we would look to refinance are on pages 11 and 12 um so those are the A1 15:18 bonds and the A2 bonds both of those currently have payments out through February of 2038 um 15:26 with the refinancing it's possible that that term could be shortened typically What's Done um is the bonds would remain outstanding 15:34 through 2038 but if we're able to reduce that interest rate it would simply reduce the annual payment so I'll maybe have you look at the um page 12 the A2 15:43 bonds so you can see annual payments on those are currently about $230,000 per year um The Hope is if we 15:51 can bring that 5.46% interest rate down significantly enough we may be able to reduce that to 130 and maybe get it down 15:59 somewhere in $150 $200,000 range so that could be you know 50 $80,000 a year in savings for the city and that's just going to depend on how much interest 16:07 rates come down from where they are currently compared to where they are um on the existing and the A1 are the ones that 16:16 Cafe Valley and the two the A2 are the ones that the city's paying correct and the A2 one's the reason why the city's 16:23 paying is because those that part of the Tiff District never developed that's my understanding um I think the A2 bonds 16:32 when we look back at the bond documents and again those predate our involvement with the city but the bond documents I think authorized on the A1 bonds it was 16:40 primarily improvements being made at Cafe Valley's facility the A2 Bonds were other improvements in that general area 16:47 so it wasn't specific to Cafe Valley but more public improvements So in theory we could still see that 16:55 development and then recapture some of that Revenue and help this out in the long run too yeah correct absolutely so 17:03 that just that's based on our willingness and the and the individuals that we 17:10 have now in place their ability to bring Economic Development into those into those areas to help deal with that 17:18 abolutely okay corre so we're not actually I'm sorry and I misspoke we're not actually issuing new bonds you were talking about refinancing we're just 17:25 talking about the tax abatement so because at this point well and if I may interject just I think one important 17:33 point to make right now um is that as part of the documents that were presented to you uh at the council meeting on Tuesday was the economic 17:41 development agreement and as part of that agreement the city kind of took over the the control over that uh 17:48 refinance project so in addition to approving the abatement we're also retaining the right to refinance those 17:55 bonds at a time of our choosing as long as it's mutually beneficial so each party benefits from that refinancing process so um if we are to approve that 18:04 agreement it it kind of puts the ball in our court to be able to do that at a time of our choosing and it allow us to Andy and his team to tee that up in advance so that we have all the 18:13 documents prepared so that as soon as rates align with what is going to be the maximum benefit to the city we can execute that that 18:22 refinance okay um which could mean either extended out or 18:29 not go any further because of the rate which is what you were talking about that that could change the payments from that the drop in payment would be as a 18:37 result of the lower rate yeah okay um and as long as it's beneficial so 18:44 Cafe Valley can't say no no don't change this or um does that go when we do that 18:51 that Bond rating though has to be um both us and Cafe Valley have the ability to do that bonders ful on the city's 18:59 Bond a bond rating Bond Authority it would it would be completely on the city so um both the A1 19:09 and the A2 bonds have multiple layers of security behind them the city is ultimately behind the A1 bonds but there 19:17 are several layers and as long as Cafe Valley's there they will always be responsible for that payment so they're the project Tiff makes the payments 19:25 first the um extent their are shortfalls the cafe Valley is responsible for those shortfalls um but because the bonds are 19:34 ultimately backed by the city um it would be you know we would look to refinance based on the city's credit and the city's Bond rating um so I think 19:41 there's actually maybe two tiered benefit one is you know a direct reduction on the the A2 bonds which would reduce what the city's paying 19:48 currently and then two if we're able to refinance the a1s that does you know reduce the city's exposure on those as well um you know as there is some City 19:57 backing on those you know as I said several layers down on the security level okay then as the city what are 20:04 things that we can do or be aware of that would protect that ability down the road for us to refinance um and I guess that means 20:13 because I know obviously we're looking at a new fire station we're looking at possibly another truck I mean there may be some Bond things that we're looking 20:21 at going forward will that change our bond ability our bond rating and our abilities when we need to refinance this 20:29 I wouldn't you know with the refinancing I wouldn't anticipate you know any drastic changes on your um your bond rating or bonding capacity if anything 20:37 it improves it because you're reducing your existing obligations so it's typically viewed as a positive I don't know that you know if we're able to reduce the payments by tens of thousands 20:45 of dollars a year that that's going to drastically improve it but it certainly helps okay I just want to make sure that we don't do something that in the long 20:52 run makes it difficult to refinance this correct because then we're failing Cafe Valley when it comes to that point because they were hoping we would do 21:00 this so okay well to that point I think you know refinancing it is somewhat of a one bite 21:07 at the Apple um you know typically you want to refinance and just the cost of doing so and the ability um you know once bonds are issued you've you've got 21:14 a call Protection period where you're not going to be able to refinance again and so what we would do is have the city go through the approval process Tee It 21:22 Up Make sure Cafe Valley is committed to all their current positions um on the existing debt and then it would really 21:29 be up to the city you know does $30,000 a year in savings on the the A2 bonds move the needle enough um if so we could go ahead and proceed if you know the 21:37 city would want to wait and see if rates continue to come down it would it would really be a you know a threshold we could identify with Redevelopment commission and and city council and when 21:45 we get to that point where rates would generate enough savings um then we would go ahead and proceed with the refinancing because you don't 21:53 necessarily you know if it's going to save you $5,000 a year you may want to wait it out and see if rates improve beyond that 22:02 so okay any other questions out there with the council or committee members I have a couple um I I've been speaking to 22:11 uh councilman Kane and he wanted to be here but he had a confliction with his work schedule but um he was curious on 22:18 how we would get out of uh paying the $200,000 per year that we're incurring 22:25 on this right now uh is this going to have any effect on that will it reduce that will it get us out of that and I 22:32 guess Joe you could speak to that for me please yeah that they comes a little bit back to the conversation we just had I don't I don't know if we have um a 22:41 short-term solution to getting us out of making those payments um entirely however the the refinancing which uh 22:49 Cafe Valley is committing to in the economic development agreement would allow us to and our hope is again that we can maybe lessen that annual payment 22:56 by you know 30 4050 ,000 a year um as part of this process um which Cafe 23:04 Valley is part of a tax abatement would not normally be obligated to do it's something that we insisted we included as part of this agreement so that the city is receiving some level of benefit 23:12 from this project as it in addition to the investment in the jobs um and that's that's another point I I wanted to make 23:19 that's a little bit it's on the topic of the economic development agreement another thing that is included in that document which you may or may not have 23:27 noted is that there are going to be 100 new jobs added as part of this project those are going to be completed installed by December of 26 so December 23:34 of next year we're talking about two years out there to to hire those 100 new jobs but then we've included language in there that commits them to maintaining a 23:42 level of employment over 800 jobs for the duration of the tax abatement so we'll be creating those jobs and they'll be added and then not just dropped as 23:49 soon as you know they they hit their obligation right they have to hold that through the abatement and there are you know recourse action recourses that we 23:57 can take if they don't maintain that level of hiring so I think it's important in addition to the investment in the personal property that they're talking about making we we acknowledge 24:05 the jobs that are going to be created as part of this project and that um by doing this project Cafe Valley is is affirming that Marian is important part 24:12 of their business strategy longterm and that we're going to be kind of their their Central hub for production Nationwide for the next decade 24:22 plus okay thank you Joe I and I want I want to touch on that just a little bit because uh normally on all tax abatements um when we give a tax 24:30 abatement we take into consideration the new number of employees and I think this is really really important is because they are committing to a 100 new 24:39 employees right now they have 700 so um we compensate on that with income taxes 24:47 so when we when we give a tax abatement we get a compensation back with income taxes because the promise of of jobs and 24:55 and that's how we try to balance it out when we give um tax abatements um with General Motors um I was involved in that 25:04 and I I was a little bit leery on that uh but I went along with it because for the simple fact is is we were going to 25:12 have that investment into this community they did they only promised three to five new jobs in the first year because 25:20 most of it's automated so I mean as far as the uh precedent um which I think Joe 25:29 spoke on and Andy spoke on as far as the precedent within the city of Maran sometimes we compromise on that and but 25:37 I think with Cafe valet I think this is really a win-win I think that in the beginning when we started Cafe valy back 25:45 in previous administrations which is neither here nor there but we're trying to correct something and and benefit uh the community with their investment in 25:54 our community and keeping that many jobs here and in my point of view I think it's it's it's it's a great incentive 26:01 for other businesses to want to come here and work with this community so uh the other only question I had with and 26:08 you I just want you to clarify this again for uh councilman CLA um Caine is that he was he was wanting to speak on 26:17 and you've already touched on it on negotiating the 10-year Max on setting a president so um and I I promised him I 26:25 would bring this up he was wondering uh you know what the statute or the the status of that was and the structure of it which I think you've already touched 26:34 on it again but um I know we're airing this and he he's probably watching it so if you could touch on that again on the 26:42 structure on the 12 years on the 100% And why we have to do that and we can't negotiate uh five years at 100% And then 26:51 if you touch on that again for me I'd dearly appreciate it yeah absolutely so when we began this process um Cafe 26:59 Valley came to us um early in my time here with the city sometime over the summer and indicated that they were planning on making this investment they 27:06 were going to spend the $20 million they had a new line that they needed to put in at their uh at their shop here in Maran to accommodate a new client and 27:14 that they wanted to add these jobs along with it and they were going to seek a tax payment they came to us with terms for a standard tax payment that they felt was appropriate and that was that 27:23 10-year declining tax payment from 100 down to zero over 10 years um that time we we took that under consideration we 27:30 got with Andy our our financial adviser and he ran a simulation identical to the one you see before you today and what we found out was that you know we expected 27:38 to see somewhere in the net benefit to Cafe Valley of7 800,000 is what we kind of thought was going to be the case at the time um what we found out was that 27:47 that number was closer to $250,000 and again net tax relief to Cafe Valley so we provided that information to Cafe 27:54 Valley said this is what we've seen on our end as far as is what your your net benefit would be for this program and um 28:01 they counted to us and said well you understand what the outcome we're trying to reach is and and we'd like for you to work with us a little bit on the structure so that we can get closer to 28:08 that outcome even though the the process might look a little different because of the baggage that exists in this project and so that's how we got to the 12 year 28:17 100% over 12 you know 100% 12 years every year um because we wanted to get to that net benefit that we felt match the investment number for them and is is 28:25 kind of again as I mentioned earlier you know standard practice part for the course however you want to put it in Indiana Economic Development that when 28:33 you're making this level investment in Cafe Valley is committed to again the jobs numbers as well and holding those jobs throughout at least the 12 years of 28:40 this abatement um we think it's it's more than um Fair what we're getting on 28:47 in return for that tax relief and um an important point to make here that I think everybody needs to understand as well is that if we were not to Abate 28:55 this money that is not money that the city gets back um and just free money to go out and spend around town and do new projects right that's not paying for our new fire 29:03 station or anything like that um ultimately that money if it doesn't go as a tax relief to Cafe Valley is going to go towards servicing the bond that 29:12 well it'll fall into the Tiff and then that Tiff capture will pay off those A1 bonds and then the subservient B series bonds so ultimately um the city stands 29:20 to gain Nothing by not abating this we get a lot out of this Economic Development agreement if we do allow the abatement to proceed because we're going to be able to refinance the bonds that 29:29 are currently outstanding and we also get this huge jobs in in um economic commitment from Cafe Valley thank you 29:36 Joe I appreciate that absolutely thank you I can on 29:42 there you guys hear me go ahead okay thank you um I think this is relevant to 29:49 to Mr Kane's question um because you know we could have gone you know it's why 12 years right you know 10's kind of 29:56 the normal why 12 why not 15 or why not 18 right in Indiana you can actually to go all the way up to 20 uh 12 years made a lot of sense for a few reasons but I 30:05 think the most relevant to this part of the discussion is if you if you look at all the way all this would happen between now and the end of the bond 30:13 period which is as was discussed earlier is 2038 the effects of this uh abatement as 30:21 we have in front of you today that all kind of concludes at the exact same time that these bonds get paid off so 30:28 actually it's actually really nice way to kind of bundle all this stuff together and say okay we're going to put this structure into place for the 30:35 perable future in 2038 the effects of this abatement would conclude the bonds would would be 30:43 finalized and then it's like we all get to start over in 2039 with a fresh slate and if Cafe Valley considers additional 30:50 investments in Maran you know the Bots are gone this abatement is effectively has no further impact and everybody kind of move forward and do things that make 30:59 a lot more sense at that time so I just want to add that to the to the context as well because that 12E term made all 31:06 that stuff line up really really well okay thank you Andy I appreciate that very much or Jacob I'm 31:14 sorry are there any other questions Mr President you have any other other things to add or NOP I'm good I had one quick thing if 31:24 you don't mind go ahead Andy um pertaining to the tip if we had Trend to not pan out and we had uh Earthbound RV 31:33 there there in that same area not kind of paning out now we have hamaki there and we're helping reement also join the 31:41 neighborhood there those kind of things are going to have positive impacts on that Tiff right 31:48 so that could help reduce this uh yearly payment as well right so all this 31:56 positive momentum in that area is great and and as the District 5 guy I want to thank these guys for uh investing in in 32:05 District 5 in and Maran and yeah we're all for it okay thanks Andy anybody else from 32:13 the council or um Cafe Valley staff or the the legal staff for economic development Barnes thorberg um Baker 32:20 Tilly um anybody else Marty do you have anything to interject as far as the uh legality of it or 32:28 the input of it or illegal I think I think everything's in good shape okay thank 32:35 you anything else Mr President that you have that no does this something we need to pick a a committee vote to send back 32:44 with a recommendation yes okay yes sir we do we have uh with the committee um we have uh three options we make a 32:52 favorable recommendation from the committee a non-favorable recommendation or no recommend Commendation so and that 32:59 will be the committee and committee only that can vote on that um so I would entertain a motion Mr chairman I would 33:08 like to make a motion that we recommend or go forward with a favorable 33:15 recommendation I second we need to take a vote everybody in favorable favor recommendation to 33:23 take to the full Council say I I I all all those in favor 33:30 no motion carried favorable recommendation to take to the full Council to next council meeting I want to thank everybody for your input and 33:38 your time if there's anything else that you would like to conclude with this meeting anybody interject in it just one thing um go ahead so appreciate you guys 33:47 scheduling this so quickly while we're all up here for the Redevelopment commission meeting today so thank you very much for doing that number one because of the way the notice is going 33:55 to hit we have to rep publicize the notice of the public hearing for the waiver we're not going to be able to hit your next council meeting it's going to 34:02 come back for the first one in February I've got a timetable that I prepared that I can send to the committee so you guys can circulate to the council we're 34:09 not we're only going to lose one council meeting from the process we'll come to your first council meeting in February for the resolutions that were on the 34:17 table on Tuesday if all those get passed and approved we'll notice another public hearing for the confirmatory resolution 34:24 and come back for the second meeting in February as well that'd be a awesome I appreciate that very much I also would like everybody to uh um uh extend out if 34:34 if uh councilman Kain has any questions for you since he couldn't be here if you would please extend uh that for him if 34:43 he calls you out and asks any questions Jacob especially you and uh Baker Tilly and and Joe and and Chris um I I sure 34:53 would appreciate that because I'm sure he might still have some other questions that you could answer for I'd appreciate that very much and on that I would take 35:01 a motion to adjourn actually one one second real quick um because this is streaming online and it's being recorded I have the camera on you guys right now 35:09 just for record purposes for people watching and for historical could each the three of you state your name what 35:15 organization are with um that way also we have the media in the audience as well I think they want to know who you are and who you 35:24 represent uh Andy Mouser with Baker Tilly Municipal adviser we serve as financial adviser to the city and Redevelopment 35:31 commission Chris grle Barnes & thorberg we serve as Council to the city's Redevelopment commission Joe Murphy director of 35:39 Economic Development city of Maran executive director Redevelopment commission Marty Harker I'm the attorney 35:46 for the common Council thank you appreciate let me doing that thank you very much and I'll take a motion to adjourn I'd like to make a motion to 35:55 adjourn second all in favor