Designating Tax Abatement - Concrete & Asphalt Recycling, Inc. 2950 W. Lathrop St. (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 2950 West Lathrop Street South Bend, Indiana 46628 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR CONCRETE & ASPHALT RECYCLING, INC. WHEREAS, a petition for personal property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 2950 West Lathrop Street, South Bend, Indiana, and which is more particularly described as follows: Five (5) acres more or less, located in the northwest quarter of the northwest quarter of Section 34, Township 38 North, Range 2 East, which is approximately 100 acres, in St. Joseph County, State of Indiana, commonly known as 2950 Lathrop, South Bend, Indiana, and this property has Key Number 18- 2109 -4960, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1, et sue., and South Bend Municipal Code Sections 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 qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1, et se q., and South Bend Municipal Code Section 2 -76, et se q., 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 Recourses 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;