Designating Tax Abatement - Curtis Products Inc. 228 E. Bronson (5 Year Personal Property)

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RESOLUTION NO. A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 228 E Bronson AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR Curtis Products, Inc. WHEREAS, a petition for personal property tax abatement consideration has been filed with the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 228 E Bronson, South Bend, Indiana, and which is more particularly described as follows: (Legal Description) Lot A Monroe Sample Replat Lot B Monroe Sample Replat Lot G Monroe Sample Replat Lot E Monroe Sample Replat Lot F Monroe Sample Replat and this property has Key Number 18 3025 0910, 18 3021 0793, 18 3024 090101, 18 3025 0912, 18 3092 3513, 18 3025 090401 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et eqs ., and South Bend Municipal Code Sections 2 -76 et seq., 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 Human Resources 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, that: (a) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; (b) the estimate of the number of 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;