05-14-90 Council Meeting Minutes

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506 REGULAR MEETING MAY 14, .., Park, Cleveland and Brick Roads at the ByPass, U.S. 31 North, St. Joseph County _) ...a -��= �..��- .e�3...a..;.�.�u.• ....•ter... - - r..�u..c.• r. cr_ �•.....r_ � •.c. tirrc. �. be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et seg., and South Bend Municipal Code Section 2 -76 et sect., 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 seg., 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; 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 that the Petition for Personal Property Tax Abatement and Statement of Benefits form completed by the Petitioner meet the requirements of I.C. 6 -1.1- 12.1 -1 et seg., and qualifies under the provisions of South Bend Municipal Code Section 2 -76, et seg., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; B. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed described redevelopment or rehabilitation; C. That 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 redevelopment or rehabilitation; D. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation, and 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. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield the benefits identified in the Statement of Benefits as set forth as Sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits from prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Section 6 -1.1- 12.1 -3 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 and hereby adopts a resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area 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 Member of the Common Council A public hearing was held on the above resolutions. Council Member Luecke made a motion to combine both bills for the purpose of public hearing, seconded by Council Member Slavinskas. The motion carried. Council Member Luecke indicated that the Human Resources and Economic Development Committee met on these bills and recommends them favorable. Ernest Szarwark, Attorney, Barnes & Thornburg, 100 N. Michigan St., made the presentation on the bill. He stated that the project will consist of construction of a building providing 60,000 square feet of manufacturing space and 4,00 square feet of related office space. He indicated that Penz Products is engaged in light steel fabrication and vacuum forming plastic as well as distribution of products on a national basis. He stated that the project will