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BILL NO. 22-39 <br />RESOLUTION NO. 4976-22 <br />I c,-:1·, <br />A RESOLUTION OF THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN <br />THE CITY OF SOUTH BEND , INDIANA, COMMONLY KNOWN AS <br />2722 W. Tucker Drive, South Bend, IN 46619 <br />AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A <br />(5) FIVE-YEAR PERSONAL PROPERTY TAX ABATEMENT FOR <br />Steel Warehouse Company LLC <br />OCT <br />WHEREAS , a petition for personal property tax abatement consideration has been filed <br />with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, <br />requesting that the area commonly kn own as 2722 W. Tucker Drive, South Bend , IN 466 19, and <br />which is more partic ularly described as follows : <br />Business Personal Property <br />and which has Key Numbers to be assigned, be designated as an Economic Revitalization Area <br />under the provisio ns o f In d iana Cod e 6-1.1-12.1 ~ gg., and South Bend Municipal Code Sections <br />2-76 ~ ~-. and ; <br />WHEREAS , the Department of Community Investment has concluded an investigation and <br />prepared a report with information sufficient for the Common Council to determine that the area <br />qualifies as an Ec onom ic Rev italization Area under Ind iana Code 6-1.1-12.1 , l<! ~-, and South <br />Bend Municipal Code Sections 2-76 , !:! fil.9,, and.has further prepared maps and plats show ing the <br />boundaries and such other informati on regarding the area in question as required by law; and <br />WHEREAS , the Community Inve stment Committee o f the Common Council has reviewed <br />said report and recomm ended to the Common Council that the area qual ifies as an Economic <br />Revitalization Area . <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 determines and finds pursuant to Indian a Co d e 6- <br />1.1 -12.1-4.5 l<! ~-, that: <br />a. T he estim ate of the co s t o f the new industrial and manufacturing equipment is <br />rea sonable fo r equipment o f that type; <br />b. That the estimate of the number o f individuals that will be employed or whose <br />emp loyment will be retained by the Petitioner can reasonably be expected to resul t <br />from the proposed installati on of new industrial and manufacturing equipment; <br />c. That the estimate of the annual salaries o f those individuals that will be employed <br />or whose employment will be retained by the Petitioner can be reasonably expected <br />to result from the proposed installation of new industrial and manufacturing <br />equipment; <br />d . Any other benefits about which information was requested are benefits that can be <br />reasonably expected to result from the proposed new industrial and manufacturing <br />equipment; and <br />e . The to tality of benefi ts is sufficient to j ustify the deduction requested . <br />SECTION II. The Common Counci l hereby determines and finds that the proposed new industrial <br />and manufact uring equipment can be reasonabl y expected to yield the benefits identified in the <br />Statemen t o f Benefits a s set forth in Sections I through 3 o f the Petition for Personal Property Tax <br />J <br />D,IN