10-23-00 Council Meeting Minutes

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REGULAR MEETING OCTOBER 23, 2000 prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -4.5. SECTION III. The Common Council hereby accepts the report and recommendation of the Department of Community and Economic Development, and the Community and Economic - Development Committee's favorable recommendation, that the area herein described be designated as an Economic Revitalization Area for purposes of personal property tax abatement and hereby - makes such a designation. SECTION IV. The Common Council determines that such designation is for personal property tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s /Charlotte Pfeifer Member of the Common Council Councilmember Kelly reported that the Community and Economic Development Committee met on this bill and recommends this Resolution to the Council favorably. Mr. Steven Hartz, President, 2629 Foundation Drive, South Bend, Indiana, made the presentation for this Resolution. Mr. Hartz advised that Value Tool and Engineering manufactures tooling used in the aerospace, automotive and medical industries and is used all over the world. They need to purchase four hundred fifty thousand ($450,000.00) dollars of equipment to aid them in their manufacturing of this equipment. This project will maintain twelve (12) full time employees with an annual payroll of approximately four hundred thousand dollars ($400,000.00) and add additional full time employees representing an annual payroll of four hundred thousand dollars ($400,000.000). A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Coleman made a motion to adopt this Resolution. Councilmember Kelly seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 2943 -00 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3751 OLIVE ROAD AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR GIBBS WIRE & STEEL CO., INC.