07-10-95 Council Meeting Minutes

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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 seg. 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 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 -1.1- 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 Petitioner can be reasonably expected to result from the proposed installation of new manufacturing equipment; (c) the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed installation of new equipment; (d) any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed installation of new manufacturing equipment; and (e) the totality of benefits is sufficient to justify the deduction requested. SECTION II. The Common Council hereby determines and finds that the proposed new manufacturing equipment can be reasonably expected to yield the benefits identified in the State of Benefits as set forth in Section 1 through 3 of the Petition for Personal Property Tax Abatement Consideration and that the Statement of Benefits form completed by the Petitioner, said form being 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 Economic Development, and the Human Resources and Economic Development Committee's favorable recommendation, that the area herein described be designated as Economic Revitalization Area for purposes of personal property tax deduction for a period of five (5) years. 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 to be published pursuant to Indiana Code 5 -3- 1, said publication providing notice of the public hearing before the Common Council on 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/ Eugene Ladewski Member of the Common Council A public hearing was held on the resolution at this time. Council Member Kelly reported that the Community and Economic Development Committee had met on this bill and recommended it to the Council favorable. Gregg Mee, President of Emtech, made the presentation for the resolution. He indicated they planned to purchase equipment at a cost of approximately $315,000, and the total project would be in excess of $550,000. He indicated with this expansion they will be able to increase employment. Council Member Zakrzewski made a motion to adopt this resolution, seconded by Council Member Washington. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 2270 -95 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 1915, 1921, 1933 AND 1939 N. OLIVE STREET A RESIDENTIALLY DISTRESSED AREA FOR PURPOSES OF A FIVE (5) YEAR REAL PROPERTY TAX ABATEMENT FOR GREATER SOUTH BEND DEVELOPMENT COMPANY. WHEREAS, a petition for real property tax abatement has been file with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area commonly known as 1915, 1921, 1933 and 1939 N. Olive Street, South Bend, Indiana, and which is more particularly described as follows: Lot 586 Vernon Heights Addition Lot 587 Vernon Heights Addition Lot 590 Vernon Heights Addition Lot 591 Vernon Heights Addition