09-25-06 Council Meeting Minutes

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REGULAR MEETING SEPTEMBER 25, 2006 seconds East, parallel with the East-West half section line of said Section, 800.00 feet; thence South 0 degrees 56 minutes 57 seconds East 1726.13 feet; thence northwesterly 550.14 feet along an arc to the right having a radius of 4463.66 feet and subtended by a long chord having a bearing of North 54 degrees 36 minutes 59 seconds West and a distance of 549.80 feet; thence North 51 degrees 05 minutes 08 seconds West 465.22 feet; thence North 0 degrees 56 minutes 57 seconds West 761.20 feet to the East-West half section line of said East half the point of beginning, and containing 26.203 acres, more or less and which has Key Number 25-1013-0218 as an Economic Revitalization Area; and 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 seq. 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/Timothy A. Rouse Member of the Common Council Mr. Ed Fain, Plant Manger, Federal-Mogul Powertrain, Inc., 3605 W. Cleveland Road, South Bend, Indiana, made the presentation for this bill. Mr. Fain advised that Federal Mogul is a manufacturer of automotive pistons. Customers include most of the major foreign and domestic automotive manufacturers. Operations in South Bend began in 1987. The project will invest $4,779,000 in new manufacturing equipment which will be acquired and installed under four categories: 1) a new assembly cell line – Chrysler 4.7L (the Daimler Chrysler 4.7L is new business for Federal Mogul); 2) productivity improvement and safety; 3) research and development and 4) information technology. 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 Kelly made a motion to adopt this Resolution. Councilmember Varner seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. 14