09-13-93 Counicl Meeting Minutes

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REGULAR MEETING SEPTEMBER 13, 1995 years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6 -1.1 -12.1 et seq. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s /Stephen Luecke Member of the Common Council A public hearing was held on the resolution at this time. Gunther Jordan, owner of Exacto, made the presentation for the resolution. He indicated they intended to purchase new equipment in order to fill their customer's orders. Council Member Zakrzewski made a motion to adopt this resolution, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 2063 -93 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 3515 BOLAND DRIVE, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR SOCIETY LEASING (F /B /O AMERICAN TOOL & DIE, INC.) WHEREAS, a petition for personal property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 3515 Boland Dr., South Bend, Indiana, and which is more particularly described as follows: A part of the Northeast Quarter of Section 28, Township 38 North, Range 2 East, St. Joseph County, Indiana, described as follows: Commencing at the southeast corner of said quarter section; thence South 89 degrees 58 minutes 56 seconds West 1200.00 feet; thence North 0 degrees 00 minutes 23 seconds East 120 feet to the point of beginning of this description: thence South 89 degrees 58 minutes 56 seconds West 329.55 feet along the north line of Boland Drive; thence North 89 degrees 58 minutes 56 seconds West 375.00 feet along the West line of Kenmore Street; thence South 44 degrees 59 minutes 40 seconds West 14.15 feet to the point of beginning, containing 3.000 acres more or less. The bearing of the south line of the Southeast Quarter of Section 28 is assumed North 90 degrees 00 minutes 00 seconds West. and which real estate has a Key number of 25 1010 038601 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1,1- 12.1 -1 et seq., and South Bend Municipal Code Section 2 -76 et seq.; and 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 seq. 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