07-14-03 Council Meeting Minutes

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REGULAR MEETING JULY 14, 2003 Lots located at 2502 West Lawton Street numbered sixty (60), sixty -one (61), sixty -two (62), sixty -three (63), sixty -four (64), sixty -five (65), sixty -six (66), and sixty -seven (67) as shown on the recorded Plat of West End Subdivision, within and part of the City of South Bend, recorded August 20, 1901 in Plat Book 8, page 46. Lots located at 201 North Olive numbered North 57.39 F +on Olive x 257" of Lots 11 & 12 & P + S of 33, 32, 31,30 & all of 29 & 14" Vacant Alley West End Subdivision. 60.37 Ft on Olive Street x 261 Foot on Orange being Lot 10 and parts of 11- 30- 31 -32 -33 & 14 Foot Alley West End Subdivision. and this property has Key Numbers 18- 2038 - 1313,18- 2081 - 1325,18- 2038 - 1328,18- 2038- 1300,18- 2038 -1303, 18-2038-1306,18-2038-1306,18-2038-1315, 18-2038-1318,18-2038-1327, 18 -2038- 128701, and 18- 2038 -1289 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et sea., and South Bend Municipal Code Sections 2 -76 et se g., and; WHEREAS, the Department of Community and Economic Development 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 seMc ., and South Bend Municipal Code Sections 2 -76, et sea., 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 and Economic Development 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 se g., that: a. the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; b. That the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed installation of new manufacturing equipment; C. That the estimate of the annual salaries of those individuals that will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new manufacturing equipment; d. any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed new manufacturing equipment; and e. the totality of benefits is sufficient to justify the deduction requested. SECTION II. The Common Council hereby determines and finds that the proposed new manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement ■