By Caleigh Byrer
WARSAW — The City of Warsaw Redevelopment Commission approved multiple resolutions and a memorandum of understanding regarding the new addition of Mentor Media to the Tech Park at its Monday, April 10, meeting.
Mentor Media will be establishing a sterile packaging and supply chain management hub within the Warsaw Tech Park. Mentor Media is expected to occupy one third of the 100,000-square foot shell building at 1395 Polk Drive, Warsaw.
The commission approved a resolution for an incentive that would provide Mentor Media with up to $250,000 for the purchase of equipment, so long as certain conditions are met.
Mentor Media would be required to occupy the building and operate out of it for five years, the equipment that is purchased must be maintained for that duration of time and they must add 25 employees during that time, with average annual wages ranging from approximately $52,000 to $85,000.
The commission would have a five-year lien on the equipment, meaning if Mentor Media were to break the terms that were agreed upon, the commission would have the ability to take the equipment.
Jeremy Skinner also noted that the city council may be providing Mentor Media with a $250,000 forgivable loan as an incentive, which will be presented for approval at the next council meeting.
The commission also revisited the conversation about the prospect of doing a marketing study as Skinner, Tim Meyer and Mike Klondaris recently had a meeting with Retail Strategies, the contractor they are considering for the study.
The comprehensive marketing study will provide statistics to indicate where the areas in need of focus are, which the commission can choose to do in the downtown area or for the city as a whole. Based on the analysis, the contractor will provide a list of at least 30 retail establishments that would adequately “fill the gaps.”
The contract is for three years, but the agreement is renewed annually so the commission has the option to terminate the contract after each year. The yearly expense would be $50,000.
As a study is already going to be done on the downtown area in the near future, many members wanted time to consider where the study from Retail Strategies would be most beneficial.
Skinner stated he will be reaching out to Retail Strategies to compose a contract for them that will be reviewed at the next meeting on Monday, May 1.