03-14-11 Common Council Meeting Minutes

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REGULAR MEETING MARCH 14, 2011 WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrance's and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Personal property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Personal property tax deduction for a period of(5) five years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et sec.. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. s/Derek D. Dieter Member of the Common Council Ms. Suzan Joyce, CFO, Global Parts Network, LLC, 760 McArdle Drive, Crystal Lake, Illinois, made the presentation for this bill. Ms. Joyce advised that Global Parts Network is proposing to set up a new manufacturing/distribution facility that will manufacture/distribute brake shoes and other parts for the heavy duty truck market. The project will acquire several pieces of equipment including a press, press washers, blasters, paint line, packaging machines, forklifts, riveters and deriveters as well as computer hardware and peripheral equipment. The estimated cost of the project is $2,075,000. She stated that it is estimated that the total project will create twenty-two (22) new, permanent, full-time jobs in the first year of production representing a new annual payroll of approximately $565,000. It is also estimated that there will be a total of 30 permanent, full time jobs by the end of the fourth year of the project. She noted that because the project is new there are no existing jobs. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Varner made a motion to adopt this Resolution. Councilmember Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. 6