Designating Tax Abatement - Automatic Technologies Inc. 3603 Progress Dr. (5 Year Personal Property)

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RESOLUTION NO. /7D q- A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 3603 PROGRESS DRIVE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOT AUTOMATIC TECHNOLOGIES, 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'3606 Progress Drive, South Bend, Indiana, and which is more particularly described as follows: A tract or parcel of land located in the Southwest Quarter of the Northeast Quarter of Section 33, Township 38 North, Range 2 East, more particularly described as follows: Beginning at a point which is One Hundred Ninety -five and Eighteen Hundredths (195.18) feet North and Eight Hundred Fifty -five and Fifty -four Hundredths (855.54) feet Easterly of the center of said Section 33, said point being on the North line of Progress Drive; thence North 00 19' 51" East a distance of Four Hundred Sixty -Eight and Seventy -three Hundredths (468.73) feet to the South line of the St. Joseph County Airport;.thence South 890 59' 38" East on and along the South line of said St. Joseph County Airport a distance of Four Hundred Thirty -nine and Ten Hundredths (439.10) feet; thence South 00 18' 51" West a distance of Four Hundred Seventy and Sixty -five Hundredths (470.65) feet to the North line of Progress Drive; thence North 890 40' 09" West a distance of Four Hundred Thirty -nine and Seventy -one Hundredths (439.71) feet to the point of beginning. and this property has Key Number 25 1006 0296, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6- 1.1 -12. 1 -1 et seq., and South Bend Municipal Code Setions 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 seg., and South Bend Municipal Code Section 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 manufactuing 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 employment will be retained can be reasonably expected to result from the proposed installation of new equipment; 1