Laserfiche WebLink
REGULAR MEETING MARCH 13.2000 <br />INDIANA, 46624, AN ECONOMIC REVITALIZATION <br />AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL <br />PROPERTY TAX ABATEMENT FOR CURTIS <br />PRODUCTS, 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 702 S. Carroll Street and 722 S. Carroll Street, South <br />Bend, Indiana, and which is more particularly described as follows: <br />Lot A Monroe Sample Replat <br />Lot B Monroe Sample Replat <br />Lot G Monroe Sample Replat <br />Lot E Monroe Sample Replat <br />Lot F Monroe Sample Replat <br />and which has Key Numbers 18- 3025 -0910, 18- 3025 -0912, 18- 3021 -0793, 18- 3024 - 090101, 18- <br />35104- 03004, 18- 3092 -3513, 18- 3025- 090401, be designated as an Economic Revitalization Area <br />under the provisions of Indiana Code 6 -1.1 -12.1 et seq., and South Bend Municipal Code Sections <br />2 -76 et seg., 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 sea., <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. seg., 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 />C. That the estimate of the annual salaries of those individuals that will be employed or <br />whose employment will be retained by the Petitioner can be reasonably expected to <br />result from the proposed installation of new manufacturing equipment. <br />d. Any other benefits about which information was requested are benefits that can be <br />reasonably expected to result from the proposed new manufacturing equipment; and <br />e. The totality of benefits is sufficient to justify the deduction requested. <br />SECTION II. The Common Council hereby determines and finds that the proposed new <br />manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement <br />of Benefits as set forth in Section 1 through 3 of the Petition for Personal Property Tax Abatement <br />Consideration and that the Statement of Benefits form completed by the petitioner, said form being <br />