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REGULAR MEETING FEBRUARY 14, 2011 <br /> WHEREAS, McCormick & Company is in the process of implementing its <br /> project and has already met and exceeded the estimates for employment and wages and is <br /> making a good faith effort to meet the estimates for the investment and as set forth in the <br /> revised Statement of Benefits; and <br /> WHEREAS, McCormick & Company is interested in making additional <br /> investments in new manufacturing and logistical distribution equipment as more <br /> particularly described in the Amended Statement of Benefits, dated February 3, 2011, <br /> which has been filed with and submitted to the Common Council for its consideration of <br /> five year personal property tax abatement on the new investments described therein. <br /> NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City <br /> of South Bend, Indiana, as follows: <br /> SECTION I. In compliance with IND. CODE §§ 6-1.1-12.1-4.5(b), the Common <br /> Council hereby finds that: <br /> a. The estimate of the cost of the proposed new manufacturing equipment <br /> and new logistical distribution equipment is reasonable for property of this type. <br /> b. The estimate of the number of individuals who will be employed or whose <br /> employment will be retained can be reasonably expected to result from the proposed <br /> installation of the new manufacturing and logistical distribution equipment. <br /> C. The estimate of the annual salaries of the individuals who will be <br /> employed or whose employment will be retained can be reasonably expected to result <br /> from the proposed installation of new manufacturing and logistical distribution <br /> equipment. <br /> d. Any other benefits about which information was requested are benefits <br /> that can be reasonably expected to result from the proposed installation of new <br /> manufacturing and logistical distribution equipment. <br /> e. The totality of the benefits is sufficient to justify the granting of the <br /> requested deductions. <br /> SECTION II. The Amended Statement of Benefits, dated February 3, 2011, is hereby <br /> approved and the installation of new manufacturing equipment and new logistical <br /> distribution equipment as described therein are eligible for deductions from assessed <br /> value of the property as per 1.C. § 6-1.1-12.1-1 et seq. for a period of five (5) years. <br /> SECTION III. Except to the extent amended as set forth herein, Resolution 4076-11 shall <br /> continue in full force and effect. <br /> SECTION IV. This Resolution shall be in full force and effect from and after its <br /> adoption by the Common Council and approval by the Mayor. <br /> s/Derek D. Dieter <br /> Member of the Common Council <br /> Councilmember Rouse, Chairperson, Community and Economic Development <br /> Committee, reported that this committee held a Public Hearing on this bill this afternoon <br /> and voted to send it to the full Council with a favorable recommendation. <br /> Mr. Michael Calhoun, McCormick & Co., Inc., 3425 W. Lathrop Drive, South Bend, <br /> Indiana, made the presentation for this bill. <br /> Mr. Calhoun advised that this is a request for an increase in the amount of the company's <br /> five year personal property tax abatement granted by the Council through Resolution No. <br /> 4076-11 on January 24, 2011. Mr. Calhoun advised that they are planning to move an <br /> existing brand of products fro a co-packer to a company owned facility. The estimated <br /> 12 <br />