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Designating Tax Abatement - Curtis Products Inc. 228 E. Bronson (5 Year Personal Property)
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Designating Tax Abatement - Curtis Products Inc. 228 E. Bronson (5 Year Personal Property)
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
5/13/1996
Ord-Res Number
2356-96
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(c) the estimate of the annual salaries of those individuals who will be employed or whose <br />employment will be retained can be reasonably expected to result from the proposed installation <br />of new equipment. <br />(d) any other benefits about which information was requested are benefits that can be <br />reasonably expected to result from the proposed installation of new manufacturing equipment; <br />and <br />(e) the totality of benefits is sufficient to justify the deduction requested. <br />SECTION II. The Common Council hereby determines and finds that the proposed new manufacturing <br />equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits as set <br />forth in Section 1 through 3 of the Petition for Personal Property Tax Abatement Consideration and that <br />the Statement of Benefits Form completed by the Petitioner, said form being prescribed by the State <br />Board of Accounts, are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.14.5. <br />SECTION III. The Common Council hereby accepts the report and recommendation of the <br />Department of Economic Development, and the Human Resources and Economic Development <br />Committee's favorable recommendation, that the area herein described as Economic Revitalization Area <br />for purposes of personal property tax abatement and hereby makes such a designation. <br />SECTION IV. The Common Council determines that such designation is for personal property tax <br />abatement only and shall be limited to two (2) calendar years from the date of the adoption of the <br />Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified for and is <br />granted property tax deduction for a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this <br />Declaratory Resolution to be published pursuant to Indiana Code 5 -3 -1, said publication notice of the <br />public hearing before the Common Council on said declaration. <br />SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approval by the Mayor. <br />Member of the CommWCouncil <br />PRESENTED <br />NOT APPROVED <br />ADOPTED5, & -94 <br />Filed In C r r ;'> Office <br />APR 1 1 1996 <br />LORETTA J. DUDA <br />CRY CLERK. SO. SEND. IN. <br />
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