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05-26-15 Agenda, Packet & Committee Meeting Notice
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05-26-15 Agenda, Packet & Committee Meeting Notice
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
5/26/2015
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U11 0n' I s=3t <br />RESOLUTION NO. <br />A RESOLUTION OF THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN \ <br />THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS <br />325 S. Walnut St., South Bend, IN 46601 <br />AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A <br />(5) FIVE -YEAR PERSONAL PROPERTY TAX ABATEMENT FOR: <br />Masterbilt, Inc. <br />WHEREAS, a petition for personal property tax abatement consideration has been filed <br />with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, <br />requesting that the area commonly known as 325 S. Walnut St., South Bend, IN 46601 and which <br />is more particularly described as follows: <br />Business Personal Property <br />and which has a Key Number 018 - 08790 -00 be designated as an Economic Revitalization Area <br />under the provisions of Indiana Code 6 -1.1 -12.1 et SeMc ., and South Bend Municipal Code Sections <br />2 -76 et SeMc ., and; <br />WHEREAS, the Department of Community Investment has concluded an investigation and <br />prepared a report with information sufficient for the Common Council to determine that the area <br />qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1 -12.1, et sec., and South <br />Bend Municipal Code Sections 2 -76, et sec ., and has further prepared maps and plats showing the <br />boundaries and such other information regarding the area in question as required by law; and <br />WHEREAS, the Community Investment Committee of the Common Council has reviewed <br />said report and recommended to the Common Council that the area qualifies as an Economic <br />Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION 1. The Common Council hereby determines and finds pursuant to Indiana Code 6- <br />1.1- 12.1 -4.5 et sM., that: <br />a. The estimate of the cost of the new manufacturing equipment is reasonable for <br />equipment of that type; <br />
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