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10-23-00 Community & Economic Development
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10-23-00 Community & Economic Development
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City Council - City Clerk
City Council - Document Type
Committee Mtg Minutes
City Counci - Date
10/23/2000
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Community and Economic Development Committee <br /> October 23, 2000 <br /> Page 2 <br /> In response to a question from Council Member Coleman, the Petitioners noted that <br /> manufacturing makes up approximately 60%of their business with this percentage increasing once <br /> they move to their new location. <br /> In response to a question from Dr. Varner, it was noted that the petitioners will be located <br /> in the tip of the newly annexed part of the City. <br /> In response to a question from Citizen Member Jean Troutman-Poole, the Petitioners noted <br /> that the average salary will be$ 12.50 per hour plus benefits. <br /> The Council Attorney noted that in reviewing the Resolution adopted by the Commission <br /> on Friday, it does not specify the number of years for the real property tax abatement. She further <br /> noted that if the Council would approve a ten year abatement rather than a three year abatement, it <br /> would require a proper paper trail from the City Administration. Mr. Beitzinger stated that he <br /> could review the SIC codes to reference in the documentation and would prepare an addendum to <br /> the October 2, 2000 Community and Economic Development Report addressing the data described <br /> by the Petitioners, noting that the square footage would qualify the Petitioners for a 10-year real <br /> property tax abatement under the proper SIC code. He noted that the taxes abated for a 3-year <br /> abatement would be$ 111,000;and that the taxes abated for a 10-year abatement would be <br /> $ 261,000. <br /> Dr. Varner stated that with the petitioner providing 50 to 60 quality jobs that he believes the <br /> City should do all that it can go spur new development. He would therefore be supporting a ten- <br /> year abatement for the Petitioners. <br /> Following discussion, Council Member Varner made a motion, seconded by Council <br /> Member Kirsits that Bill No. 00-117 (amended to reflect a 10-year abatement) be recommended <br /> favorably to Council. The motion passed. <br /> The Committee then reviewed Bill No. 00-118 which is a five (5) year personal property <br /> tax abatement request of Value Tool & Engineering, Inc. for the property located at 2629 <br /> Foundation Drive. Mr. Michael Beitzinger reviewed the October 3, 2000 report (copy attached). <br /> The Petitioner manufactures tooling for use in the aerospace, automotive, medical and commercial <br /> markets. The new equipment cost is approximately$450,000. Ten(10)new full-time jobs would <br /> be created and twelve(12) full-time jobs would be maintained. The Petitioner meets the criteria for <br /> a five (5) year personal property tax abatement under § 2-84.2 of the South Bend Municipal Code <br /> addressing"tangible personal property tax abatement". <br /> Mr. Steven Hartz, President of Value Tool &Engineering, Inc. made the presentation. He <br /> noted that their products are used throughout the world with supplies being sent to GM, Ownes <br /> Corning, etc. <br /> Citizen Member Jean Troutman-Poole inquired as to the average hourly rate. Mr. Hartz <br /> stated that the hourly rate would be$ 21.00 per hour plus benefits. <br /> Following discussion, Dr. Varner made a motion, seconded by Council Member Kirsits, <br /> that Bill No. 00-117 be recommended favorably to Council. The motion passed. <br /> Council Member Kelly then called for the review of Bill No. 00-122 which is a ten(10) <br />
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