07-11-05 Council Meeting Minutes

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REGULAR MEETINGJULY 11, 2005 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 five (5) 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/Charlotte D. Pfeifer Member of the Common Council Ms. Mai Tran, 3702 W. Sample Street, South Bend, Indiana, made the presentation for this bill. Ms. Tran advised that Triangle Machine, Inc. is a manufacturer of precision-machined components. For the last two years, they have had to outsource work to other companies. The purchase of the new equipment will allow the work to be done locally at their facility and will generate additional revenue and create two new jobs. The estimated cost of the new equipment will be $253,000. 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 Rouse made a motion to adopt this Resolution. Councilmember Dieter seconded the motion which carried and the Resolution was adopted by a roll call vote of eight (8) ayes. RESOLUTION NO. 3486-05 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1702 W. WASHINGTON STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX (6) YEAR REAL PROPERTY TAX ABATEMENT FOR MANUFACTURING TECHNOLOGY, INC. WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area commonly known as 1702 West Washington Street, South Bend, Indiana, and which is more particularly described as follows: 6