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REGULAR MEETING <br />PARCEL III: <br />MAY 27, 2003 <br />A part of the Southeast Quarter of Section Twenty -eight (28), Township Thirty -eight (38) <br />North, Range Two (2) East, St. Joseph County, Indiana. <br />with said real estate having the following Key Number 25 -1010 -0409, as an Economic Revitalization <br />Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the <br />Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and <br />objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic revitalization area <br />have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, <br />Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area <br />described herein as an Economic Revitalization Area for the purposes of tax abatement. Such <br />designation is for Personal property tax abatement only and is limited to two (2) calendar years from <br />the date of adoption of the Declaratory Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner is qualified for and <br />is granted Personal property tax deduction for a period of five (5) years, and further determines that <br />the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and <br />Indiana Code 6- 1.1 -12 et se . <br />SECTION III. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approved by the Mayor. <br />s /Karen L. White <br />Member of the Common Council <br />Attorney Tom Walz, 19591 Roosevelt Road, South Bend, Indiana, with offices at 509 West <br />Washington Street, South Bend, Indiana, representing Total Enterprises, South Bend, Indiana, made <br />the presentation for this bill. <br />Mr. Walz advised that Total Enterprises is a fabricator and builder of tools for different industries <br />including the automotive industry. Total Enterprises plans to acquire a 1996 Giddings & Lewis <br />CNC Horizontal Boring Machine and related equipment at a purchase price of three hundred fifty <br />thousand dollars ($350,000.00). The project will create four (4) new permanent jobs and add <br />additional payroll of approximately one hundred eighty -seven thousand two hundred dollars <br />($187,200.00). He noted that these are conservative estimates and they are hopeful that this will ■ <br />