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REGULAR MEETING May 13, 2019
<br /> 19-19 A RESOLUTION CONFIRMING THE
<br /> ADOPTION OF A DECLARATORY
<br /> RESOLUTION DESIGNATING CERTAIN
<br /> AREAS WITHIN THE CITY OF SOUTH BEND,
<br /> INDIANA, COMMONLY KNOWN AS 1545 S.
<br /> OLIVE STREET, SOUTH BEND, IN 46619 AS
<br /> AN ECONOMIC REVITALIZATION AREA FOR
<br /> PURPOSES OF A FIVE (5)YEAR PERSONAL
<br /> PROPERTY TAX ABATEMENT FOR
<br /> MOLDING PLASTICS, LLC
<br /> Dan Buckenmeyer, Director of Business Development for the Department of Community
<br /> Investment with offices located on the 14th floor of the County-City Building, South Bend, IN,
<br /> served as the presenter for this bill. Mr. Buckenmeyer stated, Good evening. So, we have five (5)
<br /> separate abatements we are going to go through tonight. The first (1St) one (1) we are looking at
<br /> (referencing a slide in a presentation which is available in the City Clerk's Office) is a personal
<br /> property tax abatement.This is on capital equipment for Molding Products. Molding Products LLC
<br /> is a great South Bend business. They do plastics manufacturing and their product is raw material
<br /> for evening from bathtubs to Corvette fenders. So,it is a very neat product and a very neat business
<br /> working here in South Bend. What we are doing is supporting them in continuing their investment
<br /> to expand their facility, doubling their production. It is a $5 million private investment in tanks,
<br /> mixers, pumps, etcetera. They will be retaining forty-five (45)jobs and creating twenty(20) new
<br /> jobs with this assistance. They are all at least eighteen dollars an hour ($18/hr.) wage. It is a five
<br /> (5) year abatement, as all personal property tax abatements are. During that period, we will abate
<br /> about $52,000 in taxes but they will still pay about $687,500 in that time period. The petitioner is
<br /> here if you have any questions for them, but again, we ask for your support on this.
<br /> Kip Lockem, 1545 South Olive Street, South Bend, IN, served as the petitioner for this bill. Mr.
<br /> Lockem stated, I'm the plant engineer for Molding Products. I would just like to express our
<br /> gratitude for the support shown by Mr. Buckenmeyer and this Council. We are looking forward to
<br /> this support and many more years of operation in South Bend with expanding our business.
<br /> This being the time heretofore set for the Public Hearing on the above bill, proponents and
<br /> opponents were given an opportunity to be heard. There were none.
<br /> Councilmember Gavin Ferlic made a motion to adopt Bill No. 19-19. Councilmember John Voorde
<br /> seconded this motion which carried by a roll call vote of seven (7) ayes.
<br /> 19-21 A RESOLUTION CONFIRMING THE
<br /> ADOPTION OF A DECLARATORY
<br /> RESOLUTION DESIGNATING CERTAIN
<br /> AREAS WITHIN THE CITY OF SOUTH BEND,
<br /> INDIANA, COMMONLY KNOWN AS 5245
<br /> DYLAN DRIVE, SOUTH BEND, IN 46628 AS
<br /> AN ECONOMIC REVITALIZATION AREA FOR
<br /> PURPOSES OF A FIVE (5)YEAR PERSONAL
<br /> PROPERTY TAX ABATEMENT FOR CHASE
<br /> PLASTICS SERVICES, INC
<br /> Dan Buckenmeyer, Director of Business Development for the Department of Community
<br /> Investment with offices located on the 14th floor of the County-City Building, South Bend, IN,
<br /> served as the presenter for this bill. Mr. Buckenmeyer stated, The next two (2) will relate to the
<br /> same company and project but by different names. So, briefly, Chase Plastics is the company and
<br /> we are talking now about the personal property tax abatement. Just for clarity, in a moment we
<br /> will talk about the building expansion that these will go in under CBK Land Development, which
<br /> is the related entity. We are talking now about capital equipment and a personal property tax
<br /> abatement. This will be, again, racking, forklifts and the like to go into their expanded expansion
<br /> of their facility. It is about an $823,000 investment they will be making. There will be nineteen
<br /> (19) retained jobs and twelve (12) new jobs are anticipated. Their wage range is seventeen to
<br /> 2
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