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REGULAR MEETING <br />JANUARY 8, 1996 <br />Pt NW 1/4 Sec 14 & NE 1/4 Sec 15 -37 -2E Beg 932.75' South of SW <br />corner of Sample and Walnut <br />with said real estate having the following Key Nos. 18 8021 <br />0845.04, 18 8002 0115, 18 8006 0282, 18 8006 028201, 18 8006 0285, <br />18 8006 028501, 18 8002 0116, as an Economic Revitalization Area; <br />and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the <br />public hearing before the Council has been published pursuant to <br />Indiana Code 6 -1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of <br />hearing all remonstrances and objections from interested persons; <br />and <br />WHEREAS, the Council has determined that the qualifications for an <br />economic revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory <br />Resolution designating the area described herein as an Economic <br />Revitalization Area for the purposes of tax abatement. Such <br />designation is for Personal property tax abatement only and is <br />limited to two (2) calendar years from the date of adoption of the <br />Declaratory Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property <br />owner is qualified for and is granted Personal property tax <br />deduction for a period of five (5) years, and further determines <br />that the petition complies with Chapter 2, Article 6, of the <br />Municipal Code of the City of South Bend and Indiana Code 6 -1.1- <br />12.1 et sea. <br />SECTION III. This Resolution shall be in full force and effect <br />from and after its adoption by the Common Council and approval by <br />the Mayor. <br />/s /Roland Kelly <br />Member of the Common Council <br />Michael Kaser, vice president of Finance and Administration for <br />Lock Joint, made the presentation for the resolution. He indicated <br />they plan to purchase and install a mill for the manufacture of <br />large diameter electric welded steel tubing. He indicated this <br />would be their seventh mill. He indicated the total cost of this <br />project will be approximately $2.5 million. Council Member <br />Washington made a motion to adopt this resolution, seconded by <br />Council Member Coleman. The resolution was adopted by a roll call <br />vote of nine ayes. <br />RESOLUTION NO. 2329 -96 A RESOLUTION CONFIRMING THE ADOPTION OF A <br />DECLARATORY RESOLUTION DESIGNATING <br />CERTAIN AREAS WITHIN THE CITY OF SOUTH <br />BEND, INDIANA, COMMONLY KNOWN AS 3722 <br />FOUNDATION COURT, SOUTH BEND, INDIANA, <br />46628, AND 4207 MAYFLOWER ROAD, SOUTH <br />BEND, INDIANA, 46628, TO BE AN ECONOMIC <br />REVITALIZATION AREA FOR PURPOSES OF A 5 <br />YEAR PERSONAL PROPERTY TAX ABATEMENT FOR <br />O -T -D CORPORATION <br />WHEREAS, the Common Council of the City of South Bend, Indiana, has <br />adopted a Declaratory Resolution designating certain areas within <br />the City as Economic Revitalization Areas for the purpose of tax <br />abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly <br />