08-25-03 Council Meeting Minutes

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REGULAR MEETING AUGUST 25, 2003 WHEREAS, a Declaratory Resolution designated the area commonly known as 3605 W. Cleveland Road and which is more particularly described as follows: A tract of land in part of the East half of Section 21, Township 3 8 North, Range 2 East, 2nd P.M. St. Joseph County, Indiana with said real estate having the following Key Number 25 -500- 19994, as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. 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 se q. 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. Earl Hoff, representing Federal -Mogul Corporation, 3605 West Cleveland Road, South Bend, Indiana, residing at 25741 County Road #24, Elkhart, Indiana, made the presentation for this bill. Mr. Hoff advised that this proj ect involves the purchase of equipment to anodize the top ring groove of pistons for GM, Ford and Nissan. The cost of the project is $4.45. They will also employ twelve (12) additional employees in addition to the five hundred sixty -six (566) employees they have today. Federal -Mogul anodizes about 11.5 million pistons. Mr. Hoff stated that anodizing the ring groove is the leading edge for high performance pistons.