Designating Tax Abatement - Rink Riverside Printing, Inc. 814 S. Main St. (5 Year Personal Property)

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PARCEL V. All of Lots Numbered Two Hundred Thirteen (213), Two Hundred Fourteen (214), Two Hundred Fifteen (215), Two Hundred Sixteen (216) and the East 10 feet of Lot Numbered Two Hundred Seventeen (217), all as shown on the recorded Plat of Daniel Garst's 1 st Addition to South Bend City, now within and a part of the City of South Bend, EXCEPTING THEREFROM the South 25 feet thereof. PARCEL VI: All of Lots Numbered Two Hundred Eighteen (218), Two Hundred Nineteen (219) and Two Hundred Twenty (220) and the West 15 feet of Lot Numbered Two Hundred Seventeen (217) all as shown on the recorded Plat of Daniel Garst's 1 st Addition to South Bend City, now within and a part of the City of South Bend, EXCEPTING THEREFROM the South 24.5 feet thereof. PARCEL VII: Lot Numbered One (1) as shown on the recorded Plat of Studebaker Corridor First Minor Subdivision recorded November 19, 1992 in the Office of the Recorder of St. Joseph County, Indiana as Document Number 9243312, said lot including the South Half of that portion of vacated Tutt Street lying North of and adjacent to Lot 259 as shown on the recorded Plat of Daniel Garst's Subdivision of part of his First Addition to South Bend. and which has Key Number 18- 3041 -1586 18- 3041 -1583 18- 3042 -1631 18- 3042 -1621 18- 3042 -1630, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1. et sea.. and South Bend Municipal Code Sections 2 -76 et sea., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies an an Economic Revitalization Area under Indiana Code 6 -1.1 -12.1, et se g. and South Bend Municipal Code Sections 2 -76, et sea., and has further prepared maps and plats showing the boundaries and such other information regarding the areas in question as required by law, and WHEREAS, the Community and Economic Development 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 sea., 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 as set forth in Sections 1 through 3 of the Petition for Personal Property Tax Abatement Consideration and that the Statement of Benefits form 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.