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REGULAR MEETING FEBRUARY 26, 2007 <br />WHEREAS, the Common Council of the City of South Bend, Indiana, has <br />adopted a Declaratory Resolution designating certain areas within the City as Economic <br />Revitalization Areas for the purpose of tax abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly known as <br />Schafer Gear Works, Inc., South Bend, Indiana, and which is more particularly described <br />as follows: <br />Apart of the Southeast Quarter of Section 20 and part of the Southwest Quarter of <br />Section 21, Township 38 North, Range 2 East, situated in German Township, St. <br />Joseph County, State of Indiana, and being more particularly described as follows: <br />Lots numbered (10) ten and (11) eleven as shown on the recorded of the H.G. <br />Baus Centre -Phase One, recorded March 16, 1995, as document number <br />9507104 in the Office of the Recorder of St. Joseph County, Indiana. <br />and which has Tax Key Number 18-3042-1621, as an Economic Revitalization Area, and <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 />WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrance's and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />SECTION L 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 />SECTION IL The Common Council hereby determines that the property owner is <br />qualified for and is granted Personal property tax deduction for a period of (5) five 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 sec . <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 />s/Timothy A. Rouse <br />Member of the Common Council <br />Mr. Bipin Doshi, President, Schafer Gear Works, Inc., 4701 Nimtz Parkway, South Bend, <br />Indiana, made the presentation for this bill. <br />Mr. Doshi advised that Schafer Gear Works plans to purchase and install machinery and <br />equipment for new gear grinding capability to replace business lost, to retain employees, <br />and to add capabilities necessary to secure new business. The equipment consists of a <br />gear grinding machine plus automation and a hob sharpener. <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this Resolution, Councilmember Kelly made a motion to adopt this <br />Resolution. Councilmember Dieter seconded the motion which carried by a roll call vote <br />of eight (8) ayes. <br />10 <br />