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Home My WebLink AboutDesignating Tax Abatement - Lock Joint Tube LLC 515 W. Ireland Rd. (5 Yr. Personal Property)Attes RESOLUTION 4334 -14 Passed by the Common Council of the City of South Bend, Indiana March 24, 14 2Q—. March 25, 20 14 Clerk of Common Council Approved and signed by me Alik e—M Zg 20/9. IN City Clerk Mayor RESOLUTION NO. 3 3 � "l A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 515 WEST IRELAND ROAD AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR LOCK JOINT TUBE, LLC WHEREAS, a petition for personal property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 515 West Ireland Road, South Bend, Indiana, and which is more particularly described as follows: A parcel of land located in the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E. 1/4) of Section Twenty -Six (26), Township Thirty -Seven (37) North, Range Two (02) East of the Second (2nd) Principal Meridian and all being in Center Township, City of South Bend, St. Joseph County, Indiana and being more particularly described as follows: Commencing at the southeast corner of the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty -Six (26); thence South 90'00'00" West (Bearing derived from description shown in Title Commitment 9501843 ) as issued by St. Joseph Title Corp.), along the south line of the Southeast Quarter (S.E.1 /4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty -Six (26) and also being along the centerline of a public road now known as Ireland Road, a distance of 400.00 feet; thence North 01 °30'47" East, parallel with and 400.00 feet west of the east line of the Southeast Quarter (S.E. 1/4) of said Section Twenty -Six (26), a distance of 40.01 feet to the Point of Beginning of this description, said point of beginning being on the north right of way line of said Ireland Road and also being the southwest corner of a parcel conveyed to Roger R. Atwell and Eleanor Atwell as described in Quit Claim Deed No. 9416618; thence South 90° 00'00" West, along said north right of way line of Ireland Road and. being parallel with and 40.00 feet north of the south line of the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E. 1/4) of said Section Twenty -Six (26), a distance of 891.36 feet to a point on the west line of the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E. 1/4) of said Section Twenty -Six (26) and also being the southeast corner of a parcel conveyed to Louanne Osborne as described in Warranty Deed 9326881; thence North 00 °58'55" East, along the west line of the Southeast Quarter (S.E.1 /4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty -Six (26) and also being along the east line of said parcel conveyed to Louanne Osborne and also along the east line of a parcel conveyed to Transit Mix, Inc. as described in Warranty Deed 9018257, a distance of 955.26 feet to a point which is South 00 °58'55" West -- 314.00 feet from a stone found at the northwest corner of the Southeast Quarter (S.E.1 /4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty -Six (26); thence North 89 042'44" East, along the south line of two (02) parcels conveyed to Miles Laboratories, Inc. as described in Warranty Deed 7903212 and Warranty Deed 8501215, a distance of 1270.41 feet to a point on the west right of way line of a public street now known as Lafayette Street; thence South 01 °30'47" West, along said west right of way line of Lafayette Street and being parallel with and 30.00 feet west of the east line of the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty -Six (26), a distance of 602.05 feet to the northeast corner of a parcel conveyed to Arthur Fontonelli and as described in Warranty Deed 9335926; thence South 90 °00'00" West, along the north line of said parcel conveyed to Arthur Fontonelli and also being along the north line of a parcel conveyed to Arthur Fontonelli as described in Corporate Warranty Deed 9335926, a distance of 370.00 feet to the northwest corner of said parcel conveyed to Arthur Fontonelli; thence South 0 1 °30'47" West, along the west line of said parcel conveyed to Arthur Fontonelli, a distance of 360.00 feet to the Point of Beginning of this description. and which has Key Number 023 - 1013 -0758 a/k/a 71- 08 -26- 200 - 014.000 -002, be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6 -1.1- 12.1 et sue., and South Bend Municipal Code Sections 2 -76 et seg., and; WHEREAS, the Department of Community Investment 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, et sM., and South Bend Municipal Code Sections 2 -76, et sM., 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 Community Investment 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 pursuant to Indiana Code § 6- 1.1- 12.1 -4.5 et sue., that: a. the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; b. That the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed installation of new manufacturing equipment; C. That the estimate of the annual salaries of those individuals that will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new manufacturing equipment; d. any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed new manufacturing equipment; and e. the totality of benefits is sufficient to justify the deduction requested. SECTION II. The Common Council hereby determines and finds that the proposed new manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits and Petition for Tax Incentives completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -4.5. SECTION III. The Common Council hereby accepts the report and recommendation of the Department of Community Investment, and the Community Investment Committee's favorable recommendation, that the area herein described be designated as an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes such a designation. SECTION IV. 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 V. 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 as shown by the attachment pursuant to Indiana Code 6 -1.1- 12.1 -17; provided however, the Petitioner may not receive an economic revitalization area deduction if it receives an enterprise zone investment deduction under I.C. 6- 1.1 -45 for the same property. SECTION VI. 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 pursuant to Indiana Code 5 -3 -1, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VII. This Resolution shall be in full force an fect from an after its adoption by the Common Council and approval by the May PRESENTE0 3 L� -t F401 WPPROVED ?:ooprr 3 -2, y Filed in Clerk's ® is rAR i f JCS€ N vor»DIN F CITY CLERK, SOUTH BEND, IN i TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 14 -27 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 515 WEST IRELAND ROAD AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR LOCK JOINT TUBE, LLC Respectfully report that they have examined the matter and that in their opinion, this bill is being recommended to the full Council with a favorable recommendation. This bill was heard by the Community Investment Committee. Valerie Schey Chairperson, Committee of the Whole