4958-22 Resloution Certain Personal Property Tax Abatement 3722 Found Ct.

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BILL NO. 22-23 RESOLUTION NO. 4958-22 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA CONFIRMING THE GRANT OF CERTAIN PERSONAL PROPERTY TAX ABATEMENT DEDUCTIONS AND WAIVING NONCOMPLIANCE FOR PROPERTY COMMONLY KNOWN AS 3722 FOUNDATION CT., SOUTH BEND, INDIANA 46628 FOR Imagineering Enterprises, Inc WHEREAS, on September 10, 2018, the Common Council of the City of South Bend (the "Common Council") adopted Resolution No. 4741-18 (the "2018 Resolution"), approving a five (5) year personal property tax deduction for a new personal property located at 3722 Foundation Ct. South Bend, IN 46628 (the "Building") by Imagineering Enterprises, Inc. or "Taxpayer", within an area located in the City of South Bend that had been designated an economic revitalization area in accordance with IND. CODE § 6-1.1-12.1-1, et seq.; WHEREAS, as part of Imagineering Enterprises Inc. deduction application, Imagineering Enterprises, Inc described for the Common Council that Imagineering Enterprises, Inc would by the end of the three (3) year designation period (a) invest $550,000 in new personal property at 3722 Foundation Ct. South Bend, IN 46628 (b) create 15 or retain 41 direct jobs; WHEREAS, Imagineering Enterprises Inc. completed a construction of 15,000 S.F. building and has purchased and installed the personal property and met all objectives in its deduction application; WHEREAS, while Imagineering Enterprises, Inc submitted its CF-1/PP form to the City of South Bend Department of Community Investment in May 2021, the company inadvertently failed to timely its related Compliance Statement of Benefits Personal Property Deduction ("CF- 1/PP") to the St. Joseph County Auditor for January 1, 2020; WHEREAS, the Common Council recognizes that (a) Imagineering Enterprises, Inc has fulfilled its pledge to construct a new speculative building purchase; (b) Imagineering Enterprises, Inc has requested a waiver of its inadvertent oversight for failing to file the Application Forms to claim benefits of the tax deduction for the first year of the tax deduction, which the Common Council has the power and authority to approve under Indiana law, and (c) Imagineering Enterprises, Inc would have been entitled to receive the tax deduction for the first two years of the deduction period had no noncompliance event occurred; WHEREAS, the Indiana General Assembly has expressed the policy of this State by enacting laws that expressly permit tax abatement noncompliance events such as the untimely or erroneous filing of an application form to be waived; and WHEREAS, the noncompliance event has been corrected, and a public hearing of the Common Council has been held on the subject of this Resolution. NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, AS FOLLOWS: SECTION 1. The Taxpayer has presented testimonial and documentary evidence supporting the Taxpayer's (a) progress towards satisfying its obligations detailed in its original Statement of Benefits and its application for tax deduction related to the personal property located at 3722 Foundation Ct, South Bend, Indiana(the"Property"),and(b)inadvertent oversight leading to a belated filing of the Form CF-1/PP Statement of Benefits Personal Property Deduction in Economic Revitalization Areas to claim the benefits of a tax deduction for the January 1, 2020 1