Laserfiche WebLink
Patrick M. McMahon <br />Executive Director <br />Ann Kolata <br />Dep. Dir. Redev. <br />Kevin Horton <br />Dep. Dir. Ec. Day. <br />CITY of SOUTH BEND <br />ROGER O. PARENT, Mayor <br />DEPARTMENT OF ECONOMIC DEVELOPMENT AND REDEVELOPMENT <br />1200 COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601 <br />(219) 284 -9371 <br />December 8, 1981 <br />Members of the Common Council <br />441 County -City Building <br />South Bend, IN 46601 <br />Redevelopment Commission <br />F. Jay Nimtz <br />President <br />Lloyd E. Robinson, Sr. <br />Vice President <br />A. Peter Donaldson <br />Secretary <br />Robert J. Cira <br />Ass istant Secrets ry <br />Paula N. Auburn <br />Member <br />Attention: Mr. John Voorde, Human Resources and Economic Development <br />Committee <br />RE: Tax Abatement - Tangible Personal Property (Machinery and Equipment) <br />Members of the Common Council: <br />Attached you will find a proposed ordinance which would amend our current <br />Tax Abatement Ordinance to include the new machinery and equipment provi- <br />sions recently enacted by the State Legislature. <br />In order to implement the new Indiana Statute (6 -1.1- 12.1), I have chosen <br />to suggest modifications to our existing ordinance in the appropriate <br />sections rather than create a new and separate document. Under the new <br />statute, new manufacturing equipment, defined as tangible personal property, <br />is now eligible for tax abatement, provided that: <br />The equipment is installed during the period from <br />January 1, 1982 to December 31, 1985, and <br />2. The equipment is used in the direct production, manu- <br />facture, fabrication, assembly, extraction, mining, <br />Processing, refining, or finishing of other tangible <br />personal property, and <br />3. The existing facility or facilities have become obso- <br />lete, thereby negatively affecting South Bend's employ- <br />ment or tax revenues. <br />