05-22-89 Council Meeting Minutes

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REGULAR MEETING WHEREAS, A Declaratory Resolution designated the area commonly known as 3515 Drive, South Bend, Indiana, and more particularly described as follows: A part of the Northeast Quarter of Section 28, Township 38 North, Range 2 East, St Joseph County, Indiana, described as follows: Commencing at the southeast corner of said quarter section; thence South 89 degree; 58 minutes 56 seconds West 1200.00 feet; thence North 0 degrees 00 minutes 23 seconds East 120 feet to the point of beginning of this description thence South 8' degrees 58 minutes 56 seconds West 329.55 feet along the north line of Boland Drive; thence North 0 degrees 00 minutes 23 seconds East 339.55 feet; thence South 0 degrees 00 minutes 23 seconds West 375.00 feet long the West line of Kenmore Street; thence South 44 degrees 59 minutes 40 seconds West 14.15 feet to the point of beginning, containing 3.000 acres, more or less. The bearing of the south line of the Southeast Quarter of Section 28 is assumed North 90 degrees 00 minutes 00 seconds West. as an Economic Revitalization Area; and WHEREAS, Notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an Economic Revitalization Area have been met. 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 Real Property Tax Abatement and the 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 annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to resul from the proposed 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 r from the proposed redevelopment or rehabilitation; D. That the other benefits about which information was requested are benefits can be reasonably expected to result from the proposed described or rehabilita 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 as Section I and 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. Revitalization Area for the purposes of Tax Abatement. Such designation is for Real Property Tax Abatement only and is limited to Two (2) calendar years for the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. That the Common Council hereby determines that the property owner is qualified and is granted a Real Property tax deduction for a period of Three (3) years. SECTION III. That this Resolution shall be in full force and effect from and its adoption by the Common Council and approval by the Mayor. s /Ann Puzzello Member of the Common Council A public hearing was held on the resolution at this time. James Knepp, Attorney, 509 W. Washington made the presentation on the bill. He indicated that the Petitioners American Tool & Die plan to construct an open bay machine /work area, 4 feet in width by 120 feet in length (approximately 6,000 square feet) with an estimated cost of construction of $100,000.00 to $120,000.00. He stated that the petitioner estimates that the redevelopment project itself will create 4 to 5 new, permanent jobs within the 1st year representing a new annual payroll of approximately $150,000.00 to $200,000.00, and will maintain 30 to 35 existing, permanent full -time and 1 existing permanent part -time jobs with an annual payroll of approximately $1,000,000.00 to $1,150,000.00. Council Member Coleman made a