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5047-23 Confirming Resolution for Property at 1901 N. Bendix Dr. 5 Yr. Personal Property Tax Abatement
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5047-23 Confirming Resolution for Property at 1901 N. Bendix Dr. 5 Yr. Personal Property Tax Abatement
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8/14/2023 12:07:19 PM
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8/1/2023 2:13:40 PM
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City Council - City Clerk
City Counci - Date
7/24/2023
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MEMORANDUM OF AGREEMENT <br /> (PERSONAL PROPERTY TAX ABATEMENT) <br /> This Memorandum of Agreement(Agreement) dated as July 13, 2023, serves as confirmation <br /> of a commitment by Crossroads Solar Enterprises LLC (the`'Applicant"), pending a July 24, 2023, <br /> public hearing,to comply with the project description,job creation,and retention(and associated wage <br /> rates and salaries) figures contained in its petition, Statement of Benefits, and attachments and this <br /> Agreement(Commitments). <br /> 1. Commitments of City and Applicant. Subject to the adoption of a Declaratory Resolution and <br /> a Confirmatory Resolution by the South Bend Common Council(the"SBCC"),the City of South Bend, <br /> Indiana, (the "City") commits to provide a five-year (5) personal property tax abatement for the <br /> Applicant, based on the Applicant's commitment set forth in its Application. The Applicant commits <br /> to the following (the "Commitments"): <br /> (a) making a capital expenditure of no less than Nine Hundred Forty Thousand dollars <br /> ($940,000.00) associated with the purchase of manufacturing equipment to produce solar panels at <br /> 1901 North Bendix Drive, South Bend, Indiana 46628. <br /> (b) creating at least fifteen(15)permanent full-time jobs with a total estimated annual payroll <br /> of at least Seven Hundred Fifty Thousand dollars($750,000.00); and <br /> (c) acting in good faith to complete the project as described in its Application. <br /> 2. Applicant's Compliance with City and State Laws. During the term of the abatement, the <br /> Applicant shall comply with Chapter 2, Article 6, of the South Bend Municipal Code, entitled "Tax <br /> Abatement Procedures," and all governing provisions of the Indiana Code. During the term of this <br /> abatement,the City may annually request information from the Applicant concerning the nature of the <br /> Project, the approved capital expenditure of the Project, the number of full-time permanent positions <br /> newly created by the Project, and the average wage rates and salaries(excluding benefits &overtime) <br /> associated with the positions, and the Applicant shall provide the City with adequate written evidence <br /> thereof within fifteen (15) days of such request (the "Annual Survey"). The City shall utilize this <br /> information and the information required to be filed by the Applicant in the CF-1 Compliance with the <br /> Statement of Benefits form to verify that the Applicant has at all times complied with the Commitments <br /> after the Commitment Date and during the duration of the abatement and for no other purpose. The <br /> Applicant further agrees to provide the City with such additional information as requested by the City <br /> to determine Applicant's compliance with the Commitments and with local and state requirements <br /> within twenty(20) days following any such request. Notwithstanding anything herein to the contrary, <br /> the Applicant acknowledges that the City may be required to disclose certain documents provided by <br /> the Applicant as required by a court order or applicable law. <br /> 3. Substantial Compliance and Rights of Termination. The City, by and through the SBCC, <br /> reserves the right to terminate the Economic Revitalization Area designation and associated property <br /> tax abatement deductions if it reasonably determines that the Applicant has not made reasonable efforts <br /> to substantially comply with all the Commitments, as defined in Section 1 of this Agreement, and the <br /> 1 <br />
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