02-09-15 Common Council Meeting Minutes

Home Browse Search

REGULAR MEETING FEBRUARY 09, 2015 Dental equipment and supply manufacturing equipment and which has Key Numbers 71 -023- 22494-00 be designated 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 confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for personal property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted personal 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 and further determines that the petition, the Memorandum of Agreement between the Petitioner and the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et sea. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. Member of the Common Council Presenter Chris Fielding, Community Investment from the 14' floor County City Bldg. 227 W. Jefferson South Bend IN confirming resolution for personal property tax abatement of Heraeus Kulzer looking to spend $1.5 million on new equipment to support prosthetics and esthetics dental industry globally. Total to be abated over a five (5) year period $53, 811, total taxes to be paid on that equipment $54,514 and company has committed to creating to 10 new jobs at $22 an hour. Christopher Holden President of Heraeus Kulzer 4315 S. Lafayette Blvd. South Bend IN 46614 gave a brief synopsis the investment of $1.5 million will be going towards research that will be digitally manufactured along with the proprietary factory. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor or in opposition to this Resolution, Councilmember Oliver Dieter made a motion to adopt this bill. Councilmember Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call vote of seven (7) ayes. 0