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HomeMy WebLinkAboutDesignating Tax Abatement - Art Iron Inc. 1020 High St. (5 Year Personal Property)Attest RESOLUTION NO. 1625 -88 Passed by the Common Council of the City of South Bend, Indiana, July 11, 19 88 Presented by me to the Mayor of the City of South Bend, I July 12, 1988 Approved and signed by me �y'y (4- Clerk of Common Council. .r City Clerk Mayor RESOLUTION NO. \ "-I � - lk �r A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1020 HIGH STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR ART IRON, INC. WHEREAS, a petition for personal property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, requesting that the area commonly known as 1020 High Street, South Bend, Indiana, and which is more particularly described as follows: Parcel 1: (a) A part of the Northeast Quarter of Section 13, Township 37 North, Range 2 East in the City of South Bend, St. Joseph County, Indiana, described as follows, viz: Beginning at a point, in the center line of High Street, 159 feet South of the point of intersection of the said center line of High Street in Martin L. Wenger's Second Addition to the City of South Bend with the North line of said Section 13, which said Section line is the former East and West center line of Sample Street in said City, said beginning point being a stone set in the center of said High Street, East of and in line with the center line East and West of the First Alley South of Sample Street in said Wenger's Second Addition; thence from said point of beginning running South with the center line of said High Street, 446 feet to a stone set in the center of said High Street on the northerly line of the right of way of the Lake Shore and Michigan Southern Railway Company (New York Central Lines); thence South 57 degrees and 12 minutes East with the Northerly line of said right of way, 641.3 feet to a stone set; thence North 654.22 feet to a stone set; thence due West parallel with the North line of said Section 13, a distance of 209 feet to a stone set; thence due North parallel with High Street 139 feet to a stone set; thence West 330 feet to the place of beginning, excepting therefrom the following described parcel: An irregular parcel of land in the City of South Bend, lying North and adjacent to the right of way of the New York Central Railroad and East of High Street, so called, being more particularly described as follows: Beginning at a point on the North line of the New York Central Railroad at the intersection with the East line of said High Street, so called; thence extending North along the East line of High Street', a distance of 38 feet to a point; thence South 65 degrees 35 minutes 30 seconds East a distance of 174.86 feet to a point; thence South 82 degrees 24 minutes East a distance of 80.62 feet to a point; thence North 78 degrees 59 minutes East a distance of 283.10 feet to a point on the East line of the property of the South Bend Toy Manufacturing Company; thence South no degrees 33 minutes East along said East property line a distance of 344.2 feet to a point on the North property line of the New York Central Railroad; thence North 57 degrees 13 minutes West along the North property line of said New York Central Railroad a distance of 618.35 feet to the place of beginning. (b) Also a tract or parcel of land in the City of South Bend, St. Joseph County, Indiana, bounded by a line running as follows, viz: Beginning at a point on the South side of a 14 foot alley running East and West, distant South 146 feet and East 305 feet from the Southeast corner of Sample and High Streets as formerly located in said City, which point is 7 feet South of the corner of land now owned by the South Bend Toy Manufacturing Company; thence South with the land of said Toy Manufacturing Company's land 132 feet; thence East with the line of said Company's land 209 feet to the corner in the East line of said Company's land; thence North in range with the East line of said Company's land, 31 feet; thence Northwesterly to a point in the South line of said alley, 160 feet due East of the place of beginning; thence West on the South line of said 14 foot alley, 160 feet to the place of beginning. (c) Also beginning at a point on the East line of High Street in the City of South Bend, St. Joseph County, Indiana, 127 feet South of the present Southeast corner of the intersection of High and Sample Streets, which point of beginning is at the intersection of the East line of High Street and the North line of an alley now vacated; thence East along the North line of said alley, and parallel to the South line of Sample Street a distance of 148.72 feet; thence Southeast a distance of 19.8 feet to a point on the South line of said alley, which point is 141 feet South of the present South line of Sample Street and 162.71 feet East of the East line of High Street; thence West along the South line of said alley and parallel to the South line of Sample Street, a distance of 162.71 feet to the East line of High Street; thence North along the East line of High Street a distance of 14 feet to the place of beginning. Parcel 2: A lot or parcel of land in the North part of the Northeast Quarter of Section 13, Township 37 North, Range 2 East, in City of South Bend, St. Joseph County, Indiana, bounded by a line running as follows, viz: Beginning on the present South line of Sample Street in the City of South Bend, at a point 183 feet and 4 inches East of the East line of High Street in said City; thence running East on the South line of said Sample Street, 45 feet 10 inches; thence South on a line parallel with said East line of High Street, a distance of 127 feet, more or less, to the North line of a public alley; thence West along the North line of said alley 45 feet 10 inches, to a point due South of the place of beginning; thence North 127 feet, more or less, to the place of beginning,, excepting therefrom that part taken for the widening of Sample Street as described in a deed dated April 30, 1959, recorded in Deed Record 591, pages 45 -46, of the records of St. Joseph County, Indiana. Also a lot or parcel of land in the North part of the Northeast Quarter of Section 13, Township 37 North, Range 2 East, in City of South Bend, St. Joseph County, Indiana, bounded by a line running as follows, viz: Beginning on the present South line of Sample Street in the City of South Bend, at a point 183 feet and 4 inches East of the East line of High Street in said City; thence running West on the South line of said Sample Street, 45 feet 10 inches; thence South on a line parallel with said East line of High Street, a distance of 127 feet, more or less, to the North line of a public alley (now vacated); thence East along the North line of said public alley (now vacated) and along the North line of a public alley extended, 45 feet 10 inches to a point due South of the place of beginning; thence North 127 feet, more or less, to the place of beginning, excepting therefrom that part taken for a public alley as described in Dedication Proceedings recorded in Miscellaneous Record 117, pages 29 -31 of the Records of St. Joseph County, Indiana. Also excepting therefrom that part taken for the widening of Sample Street as described in a deed dated April 30, 1959, recorded in Deed Record 591, pages 45 -46 of the records of St. Joseph County, Indiana. Parcel 3: A lot or parcel of land in the North part of the Northeast Quarter of Section 13, Township 37 North, Range 2 East, now within and a part of the City of South Bend, St. Joseph County, Indiana, bounded by a line running as follows, viz: Beginning on the present South line of Sample Street in the City of South Bend at a point 91 feet 8 inches East of the East line of High Street in said City; thence running East on the South line of said Sample Street 45 feet 10 inches; thence South on a line parallel with the East line of said High Street a distance of 127 feet, more or less, to the North line of a public alley (now vacated); thence West along the said North line of said public alley (now vacated) , 45 feet 10 inches to a point due South of the place of beginning; thence North 127 feet, more or less, to the place of beginning, excepting therefrom that part taken for a public alley as described in Dedication Proceedings recorded in Miscellaneous Record 117, pages 29 -31 of the records of St. Joseph County, Indiana. Also excepting therefrom that part taken for the widening of Sample Street as described in a deed dated April 30, 1959 recorded in Deed Record 591, pages 45 -46 of the records of St. Joseph County, Indiana. Also a lot or parcel of land in the North part of the Northeast Quarter of Section 13, Township 37 North, Range 2 East, now within and a part of the City of South Bend, St. Joseph County, Indiana, bounded by a line running as follows, viz: Beginning at the corner formed by the intersection of the East line of High Street with the present South line of Sample Street in the City of South Bend; thence running East on the South line of said Sample Street 91 feet and 8 inches; thence South on a line parallel with the East line of said High Street, a distance of 127 feet, more or less, to the North line of a public alley (now vacated); thence West along the North line of said public alley (now vacated) 91 feet and 8 inches to the East line of said High Street; thence North along the East line of said High Street, 127 feet, more or less, to the place of beginning, excepting therefrom that part taken for a public alley as described in Dedication Proceedings recorded in Miscellaneous Record 117, pages 29 -31 of the records of St. Joseph County, Indiana. Also excepting therefrom that part taken for the widening of Sample Street as described in a deed dated April 30, 1959, recorded in Deed Record 591, pages 45 -46 of the records of St. Joseph County, Indiana. 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 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 qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code section 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 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 that the Petition for Personal Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of I.C. 6 -1.1- 12.1 -1 et seq., and qualify under the provisions of South Bend Municipal Code Section 2 -76 et seq., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; B. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed described redevelopment or rehabilitation; C. That 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 redevelopment or rehabilitation; D. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and E. That the totality of benefits is sufficient to justify the deduction; all of which satisfy the requirements of I.C. 6 -1.1- 12.1 -3 and which can be reasonably expected to result from the installation of the new manufacturing equipment. SECTION III. The Common Council hereby determines and finds that the proposed new manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits set forth on the Statement of Benefits form prescribed by the State Board of Accounts and are sufficient to justify the deduction granted under Section 6 -1.1- 12.1 -4.5 of the Indiana Code. SECTION IV. The Common Council hereby accepts the report and recommendati of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes such designation. SECTION V. The Common Council determines that such designation is for personal property tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. Section VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Personal Property Tax Abatement to be published, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. PRESENTED %- 11-1?e NOT APPROVED ACTED %- / / -kr om clork�S ®f ber of the Common Council JUL 61989