Designating Tax Abatement - Hoosier Tank & Manufacturing Inc. 2502 W. Lawton St. (5 Year Personal Property)

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RESOLUTION NO. x;20 Z —%.9 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 2502 WEST LAWTON STREET, AN ECONOMIC REVITALIZATION AREA FOR PURPOSE OF PERSONAL PROPERTY TAX ABATEMENT FOR HOOSIER TANK AND MANUFACTURING, INC. WHEREAS, a petition for personal pronertv tax abatement consideration has been filed with the Common Council of the City of South Bend, requestinq that the area commonly known as 2502 West Lawton Street, South Bend, Indiana, and which is more particularly described as follows: Lots sixty (60), sixty -one (61), sixty -two (62), sixty -three (63), sixty -four (64), sixty -five (65), sixty -six (66), and sixty -seven (67) as shown on the recorded Plat of West End Subdivision, within and a part of the City of South Bend, recorded Aucust 20, 1901 in Plat Book 8, page 46. and this property has Key Numbers 182038 1327, 182038 1318, 182038 1315, and 182038 1306, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et sea., and South Bend Municipal Code Section 2 -76 et seq.; and WHEREAS, the Department of Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area oualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1; et seq., and South Bend Municipal Code Sectio�et seq., and has furtTier prepared maps and plats showing the boundaries and such other information recardinn 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; (c) The estimate of the annual salaries of those individuals who will be employed or whose employmert will be retained can be reasonably expected to result from the proposed installation of new equipment; 1