HomeMy WebLinkAbout4676-17 Designating 3333 N. Kenmore Street an Economic Revitalization Area for purposes of a five (5) year Personal Property Tax Abatement for Tri-Pac, Inc. RESOLUTION
No. 4676-17
Passed by the Common Council of the City of South Bend, Indiana
October 9, 20 17
Attest: City Clerk
Attest President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
October 10, 20 17 .
City Clerk
Approved and signed by me �'� 1 �f 20 .
MaYor
RESOLUTION NO. qjo��- r l
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN
THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
3333 N Kenmore St, South Bend, IN 46628
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
(5) FIVE-YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
Tri-Pac, Inc.
WHEREAS, a petition for personal property tax abatement consideration has been filed
with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana,
requesting that the area commonly known as Tri-Pac,Inc. and which is more particularly described
as follows:
Business Personal Property
and which has Key Numbers be designated as an Economic Revitalization Area under the
provisions of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et
and;
WHEREAS,the Department of Community Investment has concluded an investigation and
prepared a report with information sufficient for the Common Council to determine that the area
qualifies as an Economic Revitalization Area under Indiana Code 6-1.1-12.1, et seq., and South
Bend Municipal Code Sections 2-76,et seq., and has further prepared maps and plats showing the
boundaries and such other information regarding the area in question as required by law; and
WHEREAS,the Community Investment Committee of the Common Council has reviewed
said report and recommended to the Common Council that the area qualifies as an Economic
Revitalization Area.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The Common Council hereby determines and finds pursuant to Indiana Code 6-
1.1-12.1-4.5 et seq., that:
a. The estimate of the cost of the new manufacturing equipment is reasonable for
equipment of that type;
b. That the estimate of the number of individuals that will be employed or whose
employment will be retained by the Petitioner can reasonably be expected to result
from the proposed installation of new manufacturing equipment;
C. That the estimate of the annual salaries of those individuals that will be employed
or whose employment will be retained by the Petitioner can be reasonably expected
to result from the proposed installation of new manufacturing equipment;
d. Any other benefits about which information was requested are benefits that can be
reasonably expected to result from the proposed new manufacturing equipment;
and
e. The totality of benefits is sufficient to justify the deduction requested.
SECTION II. The Common Council hereby determines and finds that the proposed new
manufacturing equipment can be reasonably expected to yield the benefits identified in the
Statement of Benefits as set forth in Sections 1 through 3 of the Petition for Personal Property Tax
Abatement Consideration and that Statement of Benefits form completed by the petitioner, said
form being prescribed by the State Board of Accounts, are sufficient to justify the deduction
granted under Indiana Code 6-1.1-12.1-4.5.
SECTION III. The Common Council hereby accepts the report and recommendation of the
Department of Community Investment, and the Community Investment Committee's favorable
recommendation,that the area herein described be designated as an Economic Revitalization Area
for purposes of personal property tax abatement and hereby makes such a designation.
SECTION IV. The Common Council determines that such designation is for personal property
tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of
this Resolution by the Common Council.
SECTION V. The Common Council hereby determines that the property owner is qualified for
and is granted property tax deduction for a period of (5) five years as shown by the schedule
outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17.
Year 1 -100%
Year 2—80%
Year 3 —60%
Year 4—40%
Year 5 —20%
SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this
Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana
Code 5-3-1, said publication providing notice of the public hearing before the Common Council
2
on the proposed confirming of said declaration.
SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approval by the Mayor.
Member of the Common ouncil
Filed in Clerk's Office
OCT 04 2011
t KA'',EEM H FOWLER
NOT APMON&I ; CITY CLERK,SOUTH BEND, IN
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