06-12-00 Council Meeting Minutes

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REGULAR MEETING JUNE 12, 2000 project involves an investment of $1.4 million dollars for a rotary sheer. This project is expected to add fifteen (15) to nineteen (19) new positions. A Public Hearing was held on the Resolutions at this time. There was no one present wishing to speak to the Council either in favor of or in opposition to these . Resolutions. Councilmember Kelly made a motion to adopt Resolution No. 2883 -00. Councilmember King seconded the motion which carried and the Resolution was adopted by a roll call vote of seven (7) ayes. Additionally, Councilmember Kelly made a motion to adopt Resolution No. 2884 -00. Councilmember King seconded the motion which carried and the Resolution was adopted by a roll call vote of seven (7) ayes. RESOLUTION NO. 2885-00 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 325 S. WALNUT STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR MASTERBILT, INC. WHEREAS, a petition for personal property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 325 S. Walnut Street, South Bend, Indiana, and which is more particularly described as follows: LOT 41 EX SW PT NE COR LOT 42 KNOBLOCKS SUB BOL 84 N OF RR and which has Key Number 18- 3076 -3060, 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 sea., 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 sea., 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 ofthe 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- 12.1 -4.5 et. sea., 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