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REGULAR MEETING JANUARY 11, 2010 <br /> <br /> <br /> <br />Parcel of land beginning approximately 889.84 feet south and 40 feet east <br />of NW ¼ SE ¼ and known as Gibbs Wire and Steel Company, Inc. minor <br />sub section 33-38-2E cont appx AC <br /> <br />and which has Tax Key Number 18-2184-693803 presently, as an Economic <br />Revitalization Area; and <br /> <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public <br />hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; <br />and <br /> <br />WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrance’s and objections from interested persons; and <br /> <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br /> <br /> <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as an Economic Revitalization Area for the <br />purposes of tax abatement. Such designation is for Personal Property tax abatement only <br />and is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br /> <br />SECTION II. The Common Council hereby determines that the property owner is <br />qualified for and is granted Personal Property tax deduction for a period of five (5) years, <br />and further determines that the petition complies with Chapter 2, Article 6, of the <br />Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. <br /> <br />SECTION III. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approved by the Mayor. <br /> <br /> <br /> s/Derek D. Dieter <br /> Member of the Common Council <br /> <br />Mr. Bill Welsch, Hoosier Tank, 1710 N. Sheridan, made the presentation for this bill. <br /> <br />Mr. Welsch advised that Hoosier Tank manufactures air pressure reservoirs for OEM <br />truck and trailer manufacturers nationwide and internationally. They perform metal <br />forming, welding and painting operations to make tanks that can hold air and other gases <br />under pressure. The company has the opportunity to purchase the assets (machinery, <br />tooling, etc.) of a large competitor located in Missouri. The company also wants to <br />install a state of the art powder coat system. This additional equipment will allow <br />increased production to accommodate the company’s increased customer base. It will <br />also position Hoosier Tank to be the leader in their industry and to be ready for the <br />economic upturn ahead. Mr. Welsch advised that the total estimated cost of the <br />equipment if $950,000. He stated that they estimate that the project will create six (6) to <br />ten (10) new, permanent full-time positions with an annual payroll of $200,000 to <br />$335,000. The project will also maintain fifty-two (52) existing permanent full-time <br />positions with a total annual payroll of $1,800,000. <br /> <br />A Public Hearing was held on the Resolution at this time. <br /> <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this Resolution, Councilmember Rouse made a motion to adopt this <br />Resolution. Councilmember Varner seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of nine (9) ayes. <br /> 4 <br /> <br />