Designating Tax Abatement - Koontz-Wagner Electric Co. Inc. 3801 Voorde Dr. (6 Year Real Property)

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SECTION VI. The Common Council pursuant to Section 2 -84 of the South Bend Municipal Code finds the six (6) years is the appropriate and rational time period for this tax abatement in light of the following: The petitioner is an 80 year old South Bend based business, currently employing 294 with an annual payroll in excess of $11,500,000. The company completed an expansion of their facility in 2000 and has already more than doubled the 10 new jobs promised in their previous abatement granted in 1999. The proximity of the previous project with this project is within two years and the square footage of each project, when combined, exceed the requirements for a 6 year abatement. 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 pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, 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. Member of the Common Cou &il - PRESENTED'H - 'J` NOT APPROVED ADOPTED Hied In Clerk's Office APB 0 9 2001 LOPETTAJ. CODA CRY CLEM 90. BEND, IN.