09-12-94 Council Meeting Minutes

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224 REGULAR MEETING SEPTEMBER 12, 1994 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 I 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/ Ann Puzzello 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 resolution and recommended it to the Council favorable. Dick Monagle, General Manager, made the presentation for the resolution. He indicated they planned to purchase $20 millions dollars worth of high volume machinery to be used to produce pistons. He indicated they were the second largest automotive piston plant in the United States. He indicated 144 new jobs will be created. Council Member Kelly made a motion to adopt this resolution, seconded by Council Member Zakrzewski. The resolution was adopted by a roll call vote of eight ayes. RESOLUTION NO 2169 -94 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 2525 N. FOUNDATION DRIVE, SOUTH BEND, IN TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR MILES DISTRIBUTORS, INC. WHEREAS, the Common Council of the .City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 2525 Foundation, South Bend IN, and which is particularly described as follows: A tract of land in the Southwest Quarter of Section 28, Township 38 North, Range 2 East, St. Joseph County, Indiana described as Lot 3 -4 of Airport Industrial park, Phase III, more particularly described as follows: Commencing at the Southeast Corner of said Section 28; thence N 90 degrees 00 minutes 00 seconds W a distance of 2642.71 feet on and along the South line of said Section; thence S 89 degrees 57 minutes 33 seconds W a distance of 171.27 feet along the South line of said Quarter Section; thence N 00 degrees 00 minutes 47 seconds E along the centerline of Foundry Drive a distance of 1090.00 feet; thence N 89 degrees 59 minutes 13 seconds W a distance of 40.00 feet to the West line of Foundation Drive and a true place of beginning; thence N 89 degrees 59 minutes 13 seconds W a distance of 450.00 feet; thence N 00 degrees 00 minutes 47" E a distance of 450.00 feet; thence S 00 degrees 00 minutes 47 seconds W a distance of 210.00 feet to the place of beginning. with said real estate having the following Key No. 25 -1010 040004 an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined. that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: i 1 1