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REGULAR MEETING <br />MAY 8, 1995 <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of ten (10) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be <br />published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said <br />publication providing notice of the public hearing before the Common Council on the <br />proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />/s/ Eugene Ladewski <br />Member of the Common Council <br />RESOLUTION NO. 2238 -95 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND <br />DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, <br />INDIANA, COMMONLY KNOWN AS THE SOUTHEAST CORNER OF LAFAYETTE <br />BLVD. AND BRONSON STREET AN ECONOMIC REVITALIZATION AREA FOR <br />PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR DESIGN <br />PACKAGING, INC. <br />WHEREAS, a petition for personal property tax abatement consideration has been <br />filed with the Common Council of the City of South Bend, requesting that the area <br />commonly known as Southeast corner of Lafayette and Bronson Street, South Bend, <br />Indiana, and which is more particularly described as follows: <br />That part of the Southwest Quarter of Section 12, Township 37 North, Range 2 <br />East, Portage Township, City of South Bend, St. Joseph County, Indiana which is <br />described as: Tract 2 of the Plat of "Studebaker corporation Replat" as <br />Recorded in Plat Book 11, page 184 the records of the St. Joseph County, Indiana <br />Recorder's Office; thence South 89 48' 29" West along the south line of said <br />Tract and the north right -of -way line of Tutt Street, 172.63 feet (Record S. 89 <br />50122" West, 172.44 feet) to the West line of said Tract and the east right -of- <br />way line of Lafayette Blvd.; thence North 00 10' 41" West along said right -of- <br />way line 765.22 feet (Record, North 00 12' 10" West, 764.97 feet) to the North <br />line of said Trace and the south right -of -way line of Bronson Street; thence S. <br />89 10' 55" East along said right -of -way line, 172.26 feet (Record, South 00 12' <br />29" East, 172.38 feet) to the northeast corner of said Tract; thence South 00 <br />12' 28" East, 764.35 feet) to the Point of Beginning. <br />Containing 3.0231 acres or 131,687 square feet. <br />and this property has Key Numbers 18 3041 -1558, be designated as an Economic <br />Revitalization Area under the provisions of Indiana Code 6 -1,1- 12.1 -1 et seq., and <br />South Bend Municipal Code Section 2 -76 et seq.; and <br />WHEREAS, the Department of Economic Development has concluded an investigation <br />and prepared a report with information sufficient for the Common Council to determine <br />that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- <br />12.1-1, et seq., and South Bend Municipal Code Sections 2 -76 et seq. and has further <br />prepared maps and plats showing the boundaries and such other information regarding <br />the area in question as required by law; and <br />WHEREAS, the Human Resources and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area <br />qualifies as an Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, <br />Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds pursuant to Indiana <br />Code 6 -1.1- 12.1 -4.5, that: <br />(a) the estimate of the cost of the new manufacturing equipment is reasonable <br />for equipment of that type; <br />(b) the estimate of the number of individuals that will be employed or whose <br />employment will be retained by the Petitioner can be reasonably expected to <br />result from the proposed installation of new manufacturing equipment; <br />(c) the estimate of the annual salaries of those individuals who will be <br />employed or whose employment will be retained can be reasonably expected to <br />result from the proposed installation of new equipment; <br />(d) any other benefits about which information was requested are benefits that <br />can be reasonably expected to result from the proposed installation of new <br />manufacturing equipment; and <br />(e) the totality of benefits is sufficient to justify the deduction requested. <br />