10-08-90 Council Meeting Minutes

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105 - - -- - - - -- - - -- _ -_= OCTOBER 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 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 Petitioner 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 seq., and qualifies under the provisions of South Bend Municipal Code Section 2 -76, et seq., 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 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 set forth in sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form 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 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 made a motion to combine both resolutions for the purpose of public hearing, seconded by Council Member Coleman. The motion carried. Council Member Luecke stated that the Human Resources and Economic Development Committee met on these bills and recommends them to Council favorable. Ernest Szarwark, Attorney, Barnes & Thornburg, 600 1st Source Bank Center made the presentation on the bill. He stated that the petitioner proposes to expand its present facility for the use of additional manufacturing space. He indicated that the expansion will also include the purchase of new manufacturing equipment. He stated that the project will create ten (10) new, permanent full time jobs within the first year with an annual payroll of $145,000 and will maintain sixty (60) existing permanent full time and three (3) existing permanent part time jobs with an annual payroll of $1,313,700. He indicated that the total project cost is estimated at $258,000 including equipment. Council Member Puzzello made a motion to adopt Resolution No. 1814 -90, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of six ayes and two nays (Council Members Luecke and Voorde.) Council Member Luecke made a motion to adopt Resolution No. 1815 -90, seconded by Council Member