5074-24 Declaratory Resolution- Personal Property Tax Abatement Steel Warehouse, LLC 2803 Tucker Drive and 2920 Tucker Drive

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BILL NO. 24-11 RESOLUTION NO. 5074-24 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 2803 Tucker Drive, South Bend, Indiana 46619 AND 2920 Tucker Drive, South Bend, Indiana 46619 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE-YEAR (5) PERSONAL PROPERTY TAX ABATEMENT FOR Steel Warehouse Company, LLC WHEREAS, a petition for personal property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 2803 Tucker Drive, South Bend, Indiana 46619, and 2920 Tucker Drive, South Bend, Indiana 46619, and which is more particularly described as: Business Personal Property and which has Key Numbers to be assigned, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq. and South Bend Municipal Code Sections 2-76 et seq.; and WHEREAS, the area commonly known as 2803 Tucker Drive and 2920 Tucker Drive is part of the Steel Warehouse campus, which also includes the company's headquarters at 2722 Tucker Drive; and WHEREAS,the Department of Community Investment has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6-1.1-12.1 et seq. and South Bend Municipal Code Sections 2-76 et seq. and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS,the Community Investment Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds pursuant to Indiana Code 6-1.1- 12.1-4.5 et seq. that: A. The estimate of the cost of the new industrial and manufacturing equipment is reasonable for equipment of that type; B. The estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed installation of new industrial and manufacturing equipment; C. The estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new industrial and manufacturing equipment;