05-23-94 Council Meeting Minutes

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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 ufacturing equipment can be reasonably expected to yield the benefits identified in State of Benefits as set forth in Section 1 through 3 of the Petition for Personal petty Tax Abatement Consideration and that the Statement of Benefits form completed the Petitioner, said form being prescribed by the State Board of Accounts, are ficient 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 Department of Economic Development, and the Human Resources and Economic Development iittee's favorable recommendation, that the area herein described be designated as omic Revitalization Area for purposes of personal property tax deduction for a od of five (5) years. SECTION IV. The Common Council determines that such designation is for personal roperty tax abatement only and shall be limited to two (2) calendar years from the date f the adoption of this Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner is ualified 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 doption of this Declaratory Resolution to be published pursuant to Indiana Code 5 -3 -1, aid publication providing notice of the public hearing before the Common Council on aid declaration. SECTION VII. This resolution shall be in full force and effect from and after its ion by the Common Council and approval by the Mayor. /s/ Ann Puzzello Member of the Common Council public hearing was held on the resolution at this time. Council Member Kelly reported iat the Community and Economic Development Committee had met on this bill and !commended it to the Council favorable. Anthony Fortuna, petitioner, made the 'esentation. He indicated that the new equipment will cost $670,000.00 and create free new jobs, with an annual payroll of $530,000. Council Member Slavinskas expressed s appreciate for their investment in our community. Council Member Slavinskas made motion to adopt this resolution, seconded by Council Member Coleman. The resolution .s adopted by a roll call vote of eight ayes. -94 A BILL AMENDING THE ZONING ORDINANCE FOR PROPERTY LOCATED AT 1919 S. CARLISLE STREET, IN THE CITY OF SOUTH BEND, INDIANA. s bill had first reading. Council Member Coleman made a motion to refer this bill Area Plan, seconded by Council Member Slavinskas. The motion carried. ouncil Member Slavinskas made a motion to set Bill Nos. 90 -93, 42 -94, 43 -94, 46 -94, 57- 4, and 58 -94 for public hearing and third reading on June 13, and refer them to the oning and Annexation Committee, seconded by Council Member Coleman. The motion arried. being no further business to come before the Council unfinished or new, Council Coleman made a motion to adjourn, seconded by Council Member Ladewski. The carried. The meeting was adjourned at 8:30 p.m. T: 'ity Clerk ATTEST: P sid nt