11-10-97 Council Meeting Minutes

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REGULAR MEETING NOVEMBER 10. 1997 Sports Development Area. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. Is/ Roland Kelly Member of the Common Council A public hearing was held on the resolution at this time. Council Member Coleman made a motion to accept the substitute bill on file with the City Clerk, seconded by Council Member Hosinski. The motion carried. Richard Nussbaum, City Attorney, indicated this bill had been discussed in committee and at the Council meeting two weeks ago. He advised that tax dollars in this professional sports area will be captured for purposes outlined in the statutes. Jim Cierzniak, 1156 E. Victoria, spoke against this resolution, indicating we have a TIF area entwined with a sports development area. Council Member Hosinski made a motion to adopt this resolution, seconded by Council Member Sniadecki. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 2523 -97 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 408 W. INDIANA AVENUE, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR SOUTH BEND FORM TOOL CO., INC. WHEREAS, a petition for personal property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 408 W. Indiana, South Bend, Indiana, and which is more particularly described as follows: LOTS 55, 56 AND 57 STULL 4TH and this property has Key Numbers 18 8027 1122, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1,1- 12.1 -1 et sea., and South Bend Municipal Code Section 2 -76 —et secs. • and WHEREAS, the Department of 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 -1, et seq., and South Bend Municipal Code Sections 2- 76 et seq. 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 Human Resources and Economic Development Committee of the 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 Commor L Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds pursuant to Indiana Code 6- 1.1- 12.1 -4.5, that: (a) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; (b) the estimate of the number of individuals that will be employed or whose employment will be retained by the