01-22-90 Council Meeting Minutes

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I REGULAR MEETING JANUARY 22, 1990 E. That the totality of benefits is sufficient to justify the deduction; all of which satisfy the requirements of I.C. 6 -1.1- 12.1 -3 and which can be reasonably expected to result from the installation of the new manufacturing equipment. SECTION III. The Common Council hereby determines and finds that the proposed new manufacturing equipment can be reasonably expected to yiled the benefits identified in the Petition for Personal Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduution granted under Section 6 -1.1- 12.1 -4.5 of the Indiana Code. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes such a designation. SECTION V. 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 VI. 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 VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Personal Property Tax Abatement to be published, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s /Thomas Zakrzewski A public hearing was held on the resolution at this time. Council Member Luecke stated that the Human Resources and Economic Development Committee met on this bill and recommends it to the Council favorable. Ernest Szarwark, Attorney, Barnes & Thornburg, 100 N. Michigan St., made the presentationon the bill. He indicated that the equipment which is proposed to be purchased will be utilized in the development and production of a complete facility for thermoset composite manufacturing, a process by which various resins and sheets of resin materials are molded to suit the needs of certain manufacturers. He stated that these products are used in the appliance and automobile industry and many other industries. Council Member Luecke stated that this project qualifies as it's SIC Code meets the requirements as an economic revitalization area. Council Member Luecke 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. 1764 -90 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 2820 VIRIDIAN STREET, SOUTH BEND, INDIANA, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR MACK TOOL & DIE, INC. WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, requesting that the area commonly known as 2820 Viridian Street, South Bend, Indiana, and which is more particularly described as follows: The following described real estate located in St. Joseph County, in the State of Indiana: A a part of the Southeast Quarter (1/4) of Section Twenty -eight (28), Township Thirty -eight (38) North, Range Two (2) East, of the Second Principal Meridian, Cit of South Bend, St. Joseph County, Indiana, and described as follows: Commencing at the Northeast corner of Section 28, said point being at the ii thence South 89 degrees 58 minutes 56 Southerly right -of -way lin eof Boland beginning; thence South 00 degrees 21 thence North 89 degrees 58 minutes 56 beginning. Subject to legal highways. the Southeast Quarter (1/4) of said ztersection of Bendix and Boland Drives; seconds West (bearing assume) along the Drive 12.42.51 feet to the point of minutes 33 seconds West, 293.00 feet, seconds East, 260.00 feet to the point of 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, 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 section 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;