06-08-92 Council Meeting Mniutes

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X61 E. 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 F. 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 benefits identified in the Statement of Benefits set forth as 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 purposed 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 six (6) years. Section VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real 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/ Stephen Luecke Member of the Common Council Council Member Puzzello made a motion combine public hearing on these two resolutions, seconded by Council Member Coleman. The motion carried. Council Member Kelly reported that the Human Resources Committee had met on these bills and recommended them to the Council favorable. Ernest Szarwark, attorney, made the presentation for the resolutions. He indicated Aucilla was an injection molded plastics firm and they were planning to do a 1.2 million dollar expansion. He indicated five new jobs will be created. Council Member Slavinskas made a motion to adopt Resolution No. 1951 -92, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of nine ayes. Council Member Coleman made a motion to adopt Resolution No. 1952 -92, seconded by Council Member Zakrzewski. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1953 -92 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 2603 FOUNDATION DRIVE, AIRPORT INDUSTRIAL PARK, SOUTH BEND, INDIANA, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR RICASSO, 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 2603 Foundation Dr., South Bend, Indiana, and which is more particularly described as follows: A tract of land in Section 28, Township 38 North, Range 2 East, German Township, - St. Joseph County, Indiana, described as:Beginning at the Southeast corner of said Section 28, thence North 89 degrees 59157" West on and along the South line of said Section 28, said line also being the centerline of Lathrop Street, a distance of 1982.03 feet; thence North 90 degrees 00100" West on and along said South line a distance of 660.68 feet; thence South 89 degrees 59'3" West on and along said South line a distance of 661.27 feet; thence North 0 degrees 00'18" East a distance of 40.00 feet to the north line of Lathrop Street and the Southwest corner of Block 3 of Airport Industrial Park, Phase III; thence North 0 degrees 00118" east on and along the West line 4 of said Block 3 a distance of 1260.19 feet to the true place of beginning; thence continuing North 0 degrees 00118" east on and along said West line a distance of 290.40 feet; thence South 89 degrees 59'42" East a distance of 450.00 feet to the West line of Foundation Drive; thence South 0 degrees 00118" West on and along the West line of Foundation Drive a distance of 290.40 feet to the centerline of Foundation Court extended; thence North 89 degrees 59'42" West a distance of 450.00 feet to the true point of beginning, such tract containing 3.00 acres, more or less, and being Lot 3 -5 of the Airport Industrial Park, Phase III. and this property has Key Number 25 1010 040002, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1, et seq., and