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REGULAR MEETING <br />DECEMBER 8.2003 <br />In rebuttal, Mr. Brandenberger stated that he appreciates the comments and sentiment that taxes are <br />an important source of revenue for the City. He pointed out that the lot on which he intends to build <br />is currently vacant so taxes on that property are quite low at this time. When the house in built there <br />will be a much higher payment going into the City's resources. Mr. Brandenberger stated that he <br />is attracted to live in and redevelop the neighborhood to any extent that is possible to draw good <br />families into an already good area. <br />Councilmember King made a motion to adopt this Resolution. Councilmember Kelly seconded the <br />motion which carried by a voice vote of nine (9) ayes. <br />RESOLUTION NO. 3280 -03 A RESOLUTION OF THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND DESIGNATING CERTAIN <br />AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, <br />COMMONLY KNOWN AS 3722 FOUNDATION COURT, <br />SOUTH BEND, INDIANA 46628 AN ECONOMIC <br />REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) <br />YEAR PERSONAL PROPERTY TAX ABATEMENT FOR <br />ADAPTO- INDIANA, INC. <br />WHEREAS, a petition for personal property tax abatement consideration has been filed with <br />the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, <br />requesting that the area commonly known as 3722 Foundation Court, South Bend, Indiana, and <br />which is more particularly described as follows: <br />A parcel of land located in the Metro- AledoMinor Subdivision, Lot 2, <br />German Township, St. Joseph County, Indiana... <br />and which has Key Number 25 1010 040018, be designated as an Economic Revitalization Area <br />under the provisions of Indiana Code 6 -1.1 -12.1 et sea., and South Bend Municipal Code Sections <br />2 -76 et seq., and; <br />WHEREAS, the Department of Community and Economic Development has concluded an <br />investigation and prepared a report with information sufficient for the Common Council to determine <br />that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1 -12.1, et seq., <br />and South Bend Municipal Code Sections 2 -76, et seq., and has further prepared maps and plats <br />showing the boundaries and such other information regarding the area in question as required by law; <br />and <br />WHEREAS, the Community and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area qualifies <br />as an Economic 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 Indiana Code <br />6 -1.1- 12.1 -4.5 et. seq., that: <br />a. The estimate of the cost of the new manufacturing equipment is reasonable for <br />equipment of that type; <br />b. That the estimate of the number of individuals that will be employed or whose <br />employment will be retained by the Petitioner can reasonably be expected to result <br />from the proposed installation of new manufacturing equipment; <br />-32- <br />1 <br />1 <br />F-� <br />L.-j <br />