04-24-00 Council Meeting Minutes

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REGULAR MEETING APRIL 24, 2000 PROPERTY TAX ABATEMENT FOR C & C SALVAGE, INC. WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as (insert the street address) and which is more particularly described as follows: 16.5 Acres Beg. 589.74' N. SE Cor. SE Sec, 22 -37 E and 19.8 Acres Beg. 849.2' W. SE Cor. Sec. 22 -37 -2E and 4.458 Acres Beg. 1435.86 Ft. N. SE Cor. SE Sec. 22 -37 -2E and which has Key Nunbers 18 -8155 -5598; 18- 8155 -5597; 18- 8155 -5601, 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 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 /Charlotte Pfeifer Member of the Common Council Mr. Mike We jtysiak, CPA, Norwest Bank Building, 112 West Jefferson Boulevard, Suite 601, South Bend, Indiana, made the presentation for this tax abatement on behalf of the petitioner. Mr. Wcjtysiak informed the Council that C & C Salvage, Inc. is not a new company but has been operating in Knox, Indiana since 1993. In 1999 they purchased the property on Gertrude Street and are in the process of moving to that location. They will make a significant investment in that they will purchase additional recycling machinery and a shear bailer. This equipment will cost approximately three hundred seventy -five thousand dollars ($375,000.00) to five hundred thousand dollars ($500,000.00). Ten (10) full and part-time jobs will move from Knox and it is expected that they will add an additional five (5) jobs within the first year.