01-12-09 Common Council Meeting Agenda & Packet

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corner of a existing building, said Northwest corner being the point of beginning for this description; thence continuing South 89 degrees 40 minutes 09 seconds East, along the North wall of said existing building, a distance of 161.00 feet; thence North 0 degrees 18 minutes 51 seconds East, a distance of 134.28 feet; thence North 89 degrees 40 minutes 09 seconds West, a distance of 161.00 feet; thence South 0 degrees 18 minutes 51 seconds West, a distance of 134.28 feet to the point of beginning . and which has Tax Key Numbers New Parcel 71-03-33-401-006.000-026 (Parcel I), New Parcel 71-03-33-401-007.000-026 (Parcel II) and New Parcel 71-03-33-401-008.000-026 (Parcel III) presently, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et se ., and South Bend Municipal Code Sections 2-76 et s_eq., and; WHEREAS, the Department of Community and 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, et seq., and South Bend Municipal Code Sections 2-76, et seg., 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 Community 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 et seq., that: a. The estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; b. That the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can reasonably be expected to .result from the proposed installation of new manufacturing equipment; c. That the estimate of the annual salaries of those 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; d. Any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed new manufacturing equipment; __,. - and 3