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Resolution No. 2615~gc~> RESOLUTION NO. 2615 A RESOLUTION APPROVING AN APPLICATION FOR PERSONAL PROPERTY TAX DEDUCTION WHEREAS, LC. 6-1.1-12.1-2(1) provides that an application for propertytax deduction may not be approved when the property is located in an allocation area as defined in LC. 36-7-14-39, unless the Redevelopment Commission which designated that allocation area adopts a resolution approving that application; and WHEREAS, the South Bend Common Council has received a petition for (5) five years of personal property tax abatement consideration fi-om Hoosier Tank and Manufacturing, Incorporated for personal property located at 1710 North Sheridan Street in the Airport Economic Development Area, the legal description ofwhich is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Airport Economic Development Area by Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport Economic Development Allocation Area, Allocation Area No. 1; and WHEREAS, the property located at 1710 North Sheridan Street is located within the Airport Economic Development Allocation Area, Allocation Area No. 1. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1) The Commission finds that the application from Hoosier Tank and Manufacturing, Incorporated for (5) five years of personal property tax abatement consideration for property located at 1710 North Sheridan Street in the Airport Economic Development Allocation Area, Allocation Area No. 1, should be and is hereby approved. 2) That a copy of this resolution be forwarded to the South Bend Common Council to indicate the Commission's approval of the petition for personal property tax abatement for Hoosier Tank and Manufacturing, Incorporated. Approved this 4th day of December, 2009, at the regularly scheduled meeting of the South Bend Redevelopment Commission. SOUTH BEND REDEVELOPMENT COMMISSION ATTEST: EXHIBIT A LEGAL DESCRIPTION Description: Par of land beg appx 889.84 Ft So. & 40 Ft East of NW '/ SE '/ and known as Gibbs Wire & Steel Co Inc minor sub sec 33-38-2E cont appx AC Tax Key No.: 018-2184-693803 Address: 1710 North Sheridan Street South Bend, IN 46628 12U~ COUNTY-CITY BLIfLDING 227 W. JEFFERSON BOULEVARD SOUTH BEND,INDIANn 46601-1830 PHONE 574/235-9377 Fnx 574/235-)021 'FDD 574/ 235-5567 CI'IZ' OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY ~ ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY EXECI;TIVE DIRECTOR TAX ABATEMENT REPOR T TO: SOUTH BEND REDEVELOPMENT COMMISSION FROM: BOB MATHIA ~~ ~~'~ SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: HOOSIER TANK AND MANUFACTURING, INCORPORATED DATE: NOVEMBER 24, 2009 On November 18, 2009, a petition for personal property tax abatement consideration for property located at 1710 North Sheridan Street was filed with the City Clerk by Hoosier Tank and Manufacturing, Incorporated. Pursuant to Chapter 2, Article 6, Section 2-84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition, investigated the area, and makes the following report. PROJECT SUMMARY Hoosier Tank manufactures air pressure reservoirs for OEM truck and trailer manufacturers nationwide and internationally. They perform metal forming, welding and painting operations to make tanks that can hold air and other gases under pressure. The company has the opportunity to purchase the assets (machinery, tooling, etc.) of a large competitor located in Missouri. The company also wants to install a state of the art powder coat system. This additional equipment will allow increased production to accommodate the company's increased customer base. It will also position Hoosier Tank to be the leader in their industry and to be ready for the economic upturn ahead. The equipment to be purchased is made up of various metal forming and metal working machines including laithes and hand welders, resistance and robot welders and seamers, testers, various head and COMMENT"I'Y DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL. HL PROGRAM I'A,\-I I:LA C. MEYER DC>N ALD E. INKti MANAGEMENT 574/235-96C>0 574/235-9371 I:LLZA68TH LEONARD FAx: 574/235-9697 574/235-937] South Bend Redevelopment Commission RE: Tax Abatement for Hoosier Tank and Manufacturing, Incorporated November 24, 2009 Page 2 bracket dies and a powder coating system. The equipment coming from the competitor is used and all of it will come from outside the State of Indiana. The powder coat system is new. The total estimated cost of the equipment is $950,000. Total taxes to be abated during the (5) five-year abatement period are estimated at $17,243. Total additional taxes to be paid as a result of the project during the five-year abatement period are estimated at $48,141. EMPLOYMENT IMPACT Per the petition, it is estimated that the project will create six to ten (6 - 10) new, permanent full-time positions with an annual payroll of $200,000 to $335,000. The project will also maintain fifty-two (52) existing permanent full-time positions with a total annual payroll of $1,800,000. ABATEMENT QUALIFICATION A review of the tax abatements previously granted, finds that the petitioner has been associated with or granted the following previous abatements: Term/Type Resolution No. Date 5 year personal property 2013-93 2/22/1993 5 year personal property 3213-03 7/28/2003 10 year real property 3234-03 8/25/2003 5 year personal property 3843-OS (Reconfirm & Inc.) 6/27/2005 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. A review of the South Bend Redevelopment designation areas finds that the property is located in the Airport Economic Development Area, which is a Tax Incremental Allocation Area; therefore, the petition for personal property tax deduction must first be approved by the South Bend Redevelopment Commission. 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications fora (5) five-year personal property tax abatement under section 2-84.2, Tangible Personal Property Tax Abatement. 0 0 0 0 0 0 o O CO N h (O N ~ O ~ ~ O O In ~ (O CO 1~ M M !~ N N O Ln 0 CO O N M N N CO 00 } Cfl CO ~ W O ~ V CO f~ N ~ ~ V N~ N N N `~-' O V ~t `-' M M M ~ o o~ 0 0 0 0 o O OJ N I~ O N O~~ d' ~- !~ N N I~ O M ~ O 0 ~ ~ ~ ~ f M Z H ~~ ~ W M ~~ ( 0 N ~ C O W V ~ } CO V 00 M ~~ O V S O CO O N O I~ O Z V O~ N V `-' V M ~t M V V V M O O O ~ ~' N 0 o M 0 0 0 0 o O N I~ ~ ~~ ~~ O O ~ O O M N O~~ O O~ ~ N O h CO I~ ~ ( O O~ V '~ CO O~ O V ~ ~ N V o~ M ~f i N 0 ~ 6~ M CO N N } ~ 0 O ~ ... 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(n ... -o O T N ~ ~ E Q N ~ ~ ~ i ~ ~ H ~ ~~ N Y > > ~ ~ ~ > ~ ~ ~ G v i QQ ~~z ~ a X ~ ~z N mUOCU ~ E c Q Q ~ ~ ~ (~ .. u> W a~ N c ~ ~- ~ ~ v i u i O i 3 to U o0 ~ Q C~ ~ U H Map of Hoosier- Tank & Manufacturing (574) 232-8368 Page 1 of 1 YAH~~ Prssyress Ur I- - I i ~~~~ z a ~ u' j T ~ 1 G: ~ , G ~ ~ ~ ~ ~.!f7fFfCf~+ Ut Regionall4irpcrt ff ; , ~ wade c e` Park F a w ~ .. KellEr St 4 ~ ~ ~ A ~ i! ~; ~ R ti' ~~ ' I ? --,~ - W Bully z a ~ ~, ~ ( ~ ~ ~. li a ji ~i ~ ~ ii i ~. D'ckinsan L' Middk3cfiool ~~~ wa 1 ! -- ^ -_ Er~~6~gVP ytv {-~-~ Elwomc~Aye _ ~ ~ c ~ ~ a o ~ ~' a ti ~ ~~ C" X N L 5 ~ `~ n ~ m 250 m ay St Jehns flay SOO ft _ ~..Yahoo~~;tS,Ctata:. +Jk4T~Q~059 Map of Hoosier Tank & Manufacturing (574) 232- ~~~[~~~® 8368 When using any driving directions or map, it's a good idea to do a reality check and make sure the road still exists, watch out for construction, and follow all traffic safety precautions. ~I his is only to be used as an aid in planning. http://maps.yahoo.com/print?mvt=m&ioride=us&tp=1 &stx=&fcat=&frat=&clat=... I 1 /24/2009 Exhibit C