03-24-03 Council Meeting Minutes

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REGULAR MEETING MARCH 24, 2003 NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Personal property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Personal property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et sea. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. s/Karen L. White Member of the Common Council Mr. Charles Gaver, Baker & Daniels, 205 West Jefferson Street, South Bend, Indiana, made the presentation for these bills on behalf of the Petitioners. Mr. Gaver advised that Fox Trot Real Estate is the real estate holding company and GTA Containers, Inc. is an operating company of a business that has been in South Bend since 1988. They are manufacturers of collapsible containers for the storage and transportation of fuel and water, ranging in size up to fifty thousand (50,000) gallons. Mr. Gaver further advised that these products are manufactured in accordance with Department of Defense, U.S. military specifications. Additionally, the company currently has a record of one hundred per cent (100 %) on time delivery rate and a zero percent (0% ) rejection rate. GTA currently has contracts in excess of $10 million for these containers and the United States government has recently awarded additional contracts with a potential value of $116 million through the year 2006. As a result of this, GTA is required to expand its current manufacturing facilities to accommodate this additional work. In addition to the sixty thousand (60,000) square foot facility they currently have, they propose to build a twenty - four thousand (24,000) square foot facility on the property. The estimated cost of this new project is six hundred thousand dollars ( $600,000.00). GTA will purchase two hundred fifty thousand ($250,000.00) dollars of new manufacturing equipment. As stated in the petition, GTA currently has seventeen (17) full time employment positions with an annual payroll of just over six hundred thousand dollars ($600,000.00) a year. This new project is expected to create between four (4) and six (6) new permanent full time jobs with a new annual payroll of between eighty thousand ($80,000.00) dollars and one hundred twenty thousand ($120,000.00) dollars. A Public Hearing was held on the Resolutions at this time. There was no one present wishing to speak to the Council either in favor of or in opposition to these Resolutions. Councilmember Coleman made a motion for the adoption of Bill No. 03 -30. Councilmember Kelly