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REGULAR MEETING JANUARY 23, 2006 <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 South <br />Bend, Indiana, as follows: <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 Real property tax abatement only and <br />is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner is <br />qualified for and is granted Real property tax deduction for a period of eight (8) years, <br />and further determines that the petition, the Memorandum of Agreement between the <br />Petitioner and the City of South Bend, and the Statement of Benefits comply with <br />Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code <br />6-1.1-12 et seq. <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. Jeffrey M. McGowan, CPA, Kruggel and Lawton, 210 S. Michigan Street, Suite 200, <br />South Bend, Indiana, made the presentation for this bill. <br />Mr. McGowan advised that the project encompasses the relocation and expansion of two <br />biotechnology companies, Enzyme Research Laboratories, Inc., (ERL) and R2 <br />Diagnoistics (R2D). ERL is a primary supplier of coagulation and fibrinolytic proteins <br />for research. R2D manufacturers and sells clot based diagnostic kits that are used for <br />bleeding and clotting disorders. Both companies are wholly owned by Mike Morris who <br />is acquiring a larger facility to house them. The total project includes the acquisition and <br />rehabbing of the larger facility and the purchase of additional equipment for the move <br />and expansion. Currently, both firms are housed in a 9,000 sq. ft. building located at 412 <br />S. Lafayette Blvd. The larger facility is a 25,423 sq. ft. building located at 1801 <br />Commerce Drive. That building sits on a 2.64 acre site. The project will result in <br />increased production capacity and an expanded product line. The estimated cost for the <br />building’s rehabilitation is $1,000,000. It is estimated that the total project will create six <br />(6) new, permanent, full time jobs representing a new annual payroll of $300,750. the <br />project will also maintain eleven (11) existing permanent full-time jobs representing an <br />annual payroll of $324,200. <br />A Public Hearing was held on the Resolution at this time. <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this Resolution, Councilmember Pfeifer made a motion to adopt this <br />Resolution. Councilmember Dieter seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of eight (8) ayes. <br />RESOLUTION NO. 3555-06 A RESOLUTION CONFIRMING THE <br /> ADOPTION OF A DECLARATORY <br /> RESOLUTION DESIGNATING CERTAIN <br /> AREAS WITHIN THE CITY OF SOUTH <br /> BEND, INDIANA, COMMONLY <br /> KNOWN AS 1801 COMMERCE DRIVE <br /> TO BE AN ECONOMIC <br />12 <br /> <br />