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REGULAR MEETING JULY 26,2004 <br /> and which has Key Number 25-1010-040029 as an Economic Revitalization Area; and <br /> WHEREAS, notice of the adoption of a Declaratory Resolution and the public <br /> hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; <br /> and <br /> WHEREAS, the Council held a public hearing for the purposes of hearing all <br /> remonstrances and objections from interested persons; and <br /> WHEREAS, the Council has determined that the qualifications for an economic <br /> revitalization area have been met. <br /> NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br /> South Bend, Indiana, as follows: <br /> SECTION I. The Common Council hereby confirms its Declaratory Resolution <br /> designating the area described herein as an Economic Revitalization Area for the <br /> purposes of tax abatement. Such designation is for Personal property tax abatement only <br /> and is limited to two (2) calendar years from the date of adoption of the Declaratory <br /> Resolution by the Common Council. <br /> SECTION II. The Common Council hereby determines that the property owner is <br /> qualified for and is granted personal property tax deduction for a period of five (5) years, <br /> and further determines that the petition, the Memorandum of Agreement between the <br /> Petitioner and the City of South Bend and the Statement Of Benefits comply with <br /> Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code <br /> 6-1.1-12 et seq. <br /> SECTION III. This Resolution shall be in full force and effect from and after its <br /> adoption by the Common Council and approval by the Mayor. <br /> s/Karen L. White <br /> Member of the Common Council <br /> Mr. Paul Hartz, Vice President, Mack Tool &Engineering, 15722 Sunrise Trail, Granger, <br /> Indiana made the presentation for this bill. <br /> Mr. Hartz informed that Mack Tool & Engineering is a precision machine shop, which <br /> manufacturer's prototype and experimental parts primarily for use in the medical and <br /> aerospace industries. Mr. Hartz stated that they would like to increase its production <br /> capacity with the acquisition of new equipment. It is estimated that the total cost of the <br /> new equipment will be $1,000,000. <br /> A Public Hearing was held on the Resolution at this time. <br /> There being no one present wishing to speak to the Council either in favor of or in <br /> opposition to this Resolution. Councilmember Varner made a motion to adopt this <br /> Resolution. Councilmember Dieter seconded the motion which carried and the <br /> Resolution was adopted by a roll call vote of nine (9) ayes. <br /> BILLS, FIRST READING <br /> BILL NO. 43-04 FIRST READING ON A BILL TO VACATE THE <br /> FOLLOWING DESCRIBED PROPERTY: THE FIRST <br /> ALLEY TO BE VACATED IS THE FIRST <br /> NORTH/SOUTH ALLEY EAST OF NILES AVENUE, <br /> FROM THE NORTH RIGHT OF WAY LINE OF CEDAR <br /> STREET TO THE FIRST EAST/WEST ALLEY FOR A <br /> DISTANCE OF 198 FEET AND A WIDTH OF 14 FEET. <br /> THE SECOND ALLEY TO BE VACATED IS THE <br /> 11 <br />