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07-26-10 Common Council Meeting Minutes
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07-26-10 Common Council Meeting Minutes
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REGULAR MEETING JULY 26, 2010 <br /> <br /> <br /> <br />RESOLUTION NO. 4039-10 A RESOLUTION OF THE COMMON COUNCIL <br /> OF THE CITY OF SOUTH BEND <br /> DESIGNATING CERTAIN AREAS WITHIN THE <br /> CITY OF SOUTH BEND, INDIANA, <br /> COMMONLY KNOWN AS 3425 WEST <br /> LATHROP DRIVE AN ECONOMIC <br /> REVITALIZATION AREA FOR PURPOSES OF <br /> A FIVE (5) YEAR PERSONAL PROPERTY TAX <br /> ABATEMENT FOR MCCORMICK & <br /> COMPANY, INC. <br /> <br /> <br />WHEREAS, a petition for personal property tax abatement consideration has been <br />filed with the City Clerk for consideration by the Common Council of the City of South <br />, <br />Bend, Indiana, requesting that the area commonly known as 3425 West Lathrop Dr. <br />South Bend, Indiana, and which is more particularly described as follows: <br /> <br />8.44 AC Tract; Mid PT S Side SE ¼ Beg 990’ W & 40’ N of SE Cor SE <br />SEC 28-38-2E. <br /> <br />and which has Key Number 025-1010-0403.01 be designated as an Economic <br />Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq., and South <br />Bend Municipal Code Sections 2-76 et seq., and; <br /> <br />WHEREAS, the Department of Community and Economic Development has <br />concluded an investigation and prepared a report with information sufficient for the <br />Common Council to determine that the area qualifies as an Economic Revitalization Area <br />under Indiana Code 6-1.1-12.1, et seq., and South Bend Municipal Code Sections 2-76, et <br />seq., and has further prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br /> <br />WHEREAS, the Community and Economic Development Committee of the <br />Common Council has reviewed said report and recommended to the Common Council <br />that the area qualifies as an Economic Revitalization Area. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br /> <br />SECTION I. The Common Council hereby determines and finds pursuant to Indiana <br />Code 6-1.1-12.1-4.5 et seq., that: <br /> <br />a. The estimate of the cost of the new manufacturing equipment is <br />reasonable for equipment of that type; <br /> <br />b. That the estimate of the number of individuals that will be employed or <br />whose employment will be retained by the Petitioner can reasonably be expected to result <br />from the proposed installation of new manufacturing equipment; <br /> <br />c. That the estimate of the annual salaries of those individuals that will be <br />employed or whose employment will be retained by the Petitioner can be reasonably <br />expected to result from the proposed installation of new manufacturing equipment; <br /> <br />d. Any other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed new manufacturing <br />equipment; and <br /> <br />e. The totality of benefits is sufficient to justify the deduction requested. <br /> <br />SECTION II. The Common Council hereby determines and finds that the proposed new <br />manufacturing equipment can be reasonably expected to yield the benefits identified in <br />the Statement of Benefits as set forth in Sections 1 through 3 of the Petition for Personal <br /> 19 <br /> <br />
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