Terminating Tax Abatement - Accuride International Inc. (10 Year Real Property)

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separation would be completed within a two week period. 5. On January 31, the City of South Bend's Legal Department presented for consideration by the Council Resolution 02 -6 which would rescind and terminate the Accuride tax abatements on grounds that Accuride's closing of its South Bend operation constitutes noncompliance with Accuride's contract to create and maintain certain employment levels within the City. On the same day, Chief Assistant City Attorney Aladean DeRose sent to the President of Accuride International, Inc. a letter and a copy of Resolution No. 02 -6 giving notice of these proceedings. 6. Based on this information and the oral testimony presented in a public hearing held earlier today, the Committee finds that Accuride has, in fact, failed to comply with its promised employment and salary levels. 7. The Committee further finds that Accuride has violated Indiana Code Sec. 6 -1.1- 43-3 which provides in part that "if a recipient of an economic development incentive fails to comply with the wage and benefit levels that the recipient proposed or promised to obtain an economic development incentive, the recipient forfeits the economic development incentive as of the date of determination ". 8. Therefore, the Committee recommends that the Council adopt Resolution 02 -6 which: a) Affirms the findings recited in this report; b) Revokes and repeals the Council's prior resolutions granting tax abatements to Accuride, and c) Directs the City Administration to pursue civil sanctions against Accuride as authorized by Section 2 -84.14 of the South Bend Municipal Code. 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 as amended as follows: Section II. Add after terminated, as it affects taxes due 2002, payable in 2003; taxes due in 2003, payable in 2004; and taxes due in 2004, payable in 2005. Section III. Add after repealed, as it affects taxes due 2002, payable in 2003; taxes due in 2003, payable in 2004; and taxes due in 2004, payable in 2005. Karl King Chairman