HomeMy WebLinkAbout17-60 Designating Personal Property Tax Abatement Masterbilt Inc. SpUTH
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CITY OF SOUTH BEND
COMMUNITY INVESTMENT
October 4,2017 Filed in Clerk's Office
Council Member Gavin Ferlic, Chairperson OCT �4 2017]Community Investment Committee
South Bend Common Council
4th Floor, County City Building KAREEti1AH FOWLER
South Bend, IN 46601 CITY CLERK,SOUTH C'END, IN
RE: Personal Property Tax Abatement Petition for: Masterbilt,Incorporated
Dear Council Member Ferlic:
Masterbilt, Incorporated located at 325 South Walnut Street, is a family owned business that
has been in South Bend since 1941. For more than 60 years, Masterbilt, has provided customers
with quality precision machined parts.Their extensive experience in CNC turning and milling
allows them to quickly and accurately manufacture everything from complex prototypes and
preproduction parts,to long and short productions runs. Masterbilt was recently awarded a
contract from a local South Bend company.As a result of this new production, 2 advanced
manufacturing jobs will be added to go along with the 10 jobs that will be retained.
Please find the attached information pertaining to a personal property tax abatement petition for
Masterbilt,Incorporated:
➢ Department of Community Investment's summary report
➢ Copy of the petition
➢ Statement of Benefits form
➢ Supporting information.
The report contains the Department's findings relative to the above petition. Masterbilt,
Incorporated will be purchasing and installing approximately$575,000 of new equipment as part
of their project that will allow to process new orders as well as keep up with current production.
The project meets the qualifications for a(5)five year personal property tax abatement and a
representative from Masterbilt,Incorporated will be available to meet with the Committee on
October 9,2017.
Should you or any of the other Council members have any questions concerning the report,or
need additional information,please feel free to call me at 235-5823.
EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT
14005 County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov
CITY OF SOUTH BEND I COMMUNITY INVESTMENT
Sincerely,
Dan Buckenmeyer
Director, Business Development
EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT
14005 County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov
��SOUT11 Filed in Clerk's Office
d OCT 04 2017
W �
A
PECE
�N KARE 'MAil FOWLER
1865 x CITY CLERK,SO9JTH SEND, IN
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CITY OF SOUTH BEND
COMMUNITY INVESTMENT
TAX ABATEMENT REPORT
TO: SOUTH BEND COMMON COUNCIL
FROM: DANIEL BUCKENMEYER
SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR:
Masterbilt,Incorporated
DATE: October 4,2017
On 9`h day of September, 2017, a petition from Masterbilt, Incorporated was received and
subsequently filed with the City Clerk for personal property tax abatement consideration for
property to be located at 325 South Walnut Street,South Bend,Indiana 46617. 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 Investment 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 Investment has reviewed the petition(a copy of which is attached),
investigated the area,and makes the following report.
EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT
14005 County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov
CITY OF SOUTH BEND I COMMUNITY INVESTMENT
PROJECT SUMMARY
➢ Precision aerospace machine will allow Masterbilt to produce more complex parts
➢ New project taxes over the five year abatement period—$41,198
➢ Estimated taxes being abated during five year abatement period—$16,292
➢ Total taxes to be paid on new and existing equipment over the next five years —
$24,906
EMPLOYMENT IMPACT
Per the petition, it is estimated that the total project will:
➢ Create two (2) permanent, full-time jobs within the first year, representing a new
annual payroll of$74,880. These new jobs are expected to have an hourly rate of
approximately $18.00 as they are more highly-skilled advanced manufacturing
jobs.
➢ Maintain seven (7) existing permanent full-time and three (3) existing part-time
jobs with a payroll of$268,060.
EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT
1400S County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov
CITY OF SOUTH BEND I COMMUNITY INVESTMENT
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted, finds that the petitioner has
been granted or associated with any previous abatements.
2. The Building Commissioner has reviewed the petition and finds the property to be properly
zoned for the proposed project.
3. A review of the South Bend Redevelopment designation areas finds that the property is
located in the South Side Development Area.
4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the
qualifications for a (5) five-year personal property tax abatement under section 2-84.2,
Tangible Personal Property Tax Abatement.
F Clerk's Office
04 2017
IAH FOWLE SOUTH 3E 1p, !�
EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT
14005 County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p 574.235.9371 www.southbendin.gov
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City of South Pend.
Petition for Incentives
Petition must Include a$150 filing fee payable to the City Clerk's Office or online via the City's website at
http://southbendin.gov/government/content/tax-abatement before processing can be complete
,.cli(' • air, ;Nr:ollcl+. I�klni" 'I.f:I lqd,. I,li?I -1
Legal name as registered with Secretary of
Masterbilt.Incorporated
uuslness structure S-Corporation
Company website www.masterbilt-inc.com
•..
Proposed project address 325 S.Walnut St. Parent company name
City,State,Zip South Bend,IN 46601 Legal owner Masterbilt,Inc.
Site acreage or acreage required Is the real estate owned or Owned
Square feet of facility —8,500 If leased by whom
Primary company contact name Rob Michalak Title Vice President
Address of company contact 325 S.Walnut St. Phone 574.287.6567
City,State,Zip South Bend,IN 46601 Email rob @masterbilt-ine.com
'iq�j=l �uisil<IFjlllit'rotdilJ_Ij(=iii - _ ._ --
Company senior official name Bob Michalak Title President
Address of company contact(if different from Phone
above)
City,State,Zip Email bob @masterbift-inc.com
=1iPl�ll'•:�.i}fUlif(>;dii-I91d(�fil'%aY:;-7.F
Hired business consultant/agent name Consultant release(Y/N)
Address Local economic development partners
approval Y N
City,State,Zip Email
Brief description of your Masterbill is an aerospace precision machining business which has an opportunity to grow with existing customers,
company,project,and why the Investment in new machinery and technology is necessary to improve capabilities and efficiencies which will make us more
property Is necessary for competitive. The new machines will allow Masterbilt to produce more complex parts which our customers have found
economic growth difficult to source. We have already received request for quotes and have won several jobs due to our history of top quality
and delivery performance but can grow rapidly with newer technology. Masterbilt will need to hire new employees and
invest in employee training and development to support the growth and new equipment.
Filed in Clerk's Office
EEP 13 2017
KAREEMAH FOWLER
CITY CLERK,SOUTH BEND,IN
Certified Technology Park appropriate NIA
Community Revitalization Enhancement N/A
District
Certify that the Building Permit has not been Number of residential units created by
issued N ro'ect
If this is a petition for personal property tax abatement,has
No
the equipment been installed
0-
Public Infrastructure needs(Off- Has any 504 funding been What Is the value of any equipment being purchased In What Is the value of any equipment being
site of project in dollars) received? Indiana for the project? purchased from out of state for the project?
$300,000
New . •
Plendar Year 2015 2016 r r rr 2021 2022
Land Acquisition
Building Lease Payments
Building Purchase Costs
New Building Construction
Existing Building Improvements
New Machinery&Equipment S 275,000 $300,000
Special Tooling/Retooling
New Furniture/Fixtures
New Computer/IT Hardware $25,000
New Software
On-site Rail Infrastructure
On-site Fiber infrastructure
Positions
Calendar Year Jobs retained Total hourly Cumulative It of net NEW full time Hourly average wage,w/o Total training Total d to be
wage w/o permanent jobs created at project benefits or bonuses,of expenditure- trained-not
fringe or cumulative net new Jobs not cumulative
bonuses cumulative
2015 10 $3,256/wk 2 $1440wk 10,000 2
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
imam
Full time Pert time
Laborers
Technical average$18.00
Managerial
Administrative
Who will e the individual responsible for coordinating with
WorkOne on recruitin 7 Rob Michalak
Does your company have an EEO hiring policy? Yes Are you an EEO employer? Yes
• Please describe your commitment to
diversity and Inclusion by detailing your the last three years: outreach and recruitment efforts for the last
imMYear 2017(Current) 2016 2015
three years as well as current policies.
Full Time Part Time Full Time Part Time Full Time Part Time
Black 2 We have worked actively recruited
Hispanic diversity candidates over the past 3
years which can be seen in our
Asian employee numbers.We have utilized
_ the WorkOne intern program to hire one
Indian full time employee who we are training
to be a machinist.
Female 1 4 1 3 3
Other
Complete below for or • Property • only.
Please sign for all requested incentives.
I
Public Benefit Item:
Information is required on both the construction companies and the
companies which will provide materials purchased for this project.
Please complete the table below with the appropriate information. If Qualify(Yes or No) Earned Points Available Points
you qualify for the points,please enter the full amount of available
points.
1 Construction Related(Contractors):
A. Employ Local Companies(75%) 20
B. Purchase Materials from Local Companies(75%) 20
C. Require Employees vs.Independent Contractors 19
D. Require Prevailing Wage(Davis Bacon) 22
E. Require Health Benefits 22
F. Require Pension Benefits 18
G. Maintain Affirmative Action Plan 20
Sub-total Construction Related: 0 141
2 Wage&Benefit Related(Owner):
A. Pay Target Wage Levels Yes 33 33
B. Provide Health Benefits Yes 34 34
C. Provide Pension Benefits Yes 29 29
D. Provide Training Yes 26 28
E. Provide Child Care 15
F. Provide Transportation Assistance 14
G. Provide Employer Assisted Housing program 9
Sub-total Wage&Benefit Related: 124 162
3 Workforce Related:
A. Create New Jobs Yes 42 42
B. Retain Existing Jobs Yes 41 41
C. Maintain Affirmative Action Plan Yes 35 35
D. IProvide Targeted Hiring Preference 34
Sub-total Workforce Related: 118 152
4 Support a Municipal Facility:
Support a SB Municipal Facility(donations to the
A. zoo,conservatory,museum,etc.) 84
Name of Facility
Sub-total Municipal Facility: 84
Sub-total from Above: 242 539
The undersigned owner's)of real property,located within the City of South Bend,herby petition the Common Council of the City
of South Bend for a real and/or personal property tax abatement consideration and pursuant to I.C.,6-1.1-12.1 1,et seq.,and
South Be Municipal Code Sec.2-76 et seq.,for this petition state the above.
�I
What is the current assessed value? Real Property: Personal Property:
What Is the projected assessed value? Real Property: Personal Property:
What Is the tax key number for this project?
What Is the six digit NAICS code?
Please attach a Google map and street view of the location.
Please list the amount of real and personal property taxes Real Property Taxes: Personal Property Taxes:
paid for the last five years when applicable.
Year One
Year Two
Year Three
Year Four
Year Five
Use Only
Please fill out the Public Benefit Summary information and add to the total from above. -0
_-
Y or N Points Points
Public Benefit Item:
Project Related:
5 A. Redevelop a Site that has Special Needs 49
B. Develop Based on Local University Research 35
C. Achieve a Physical Element of a Plan 36
Sub-total Project Related: 0 120
6 Super Size Projects(point values are cumulative)
A. 100%to 199% 25
B. 200%to 299% 68
C. 300%to 399% 65
D. 400%and Over 52
Sub-total Super Size Projects: 0 210
7 Pay for Municipal Infrastructure:
A. Pay for Oversizing or Upgrading 14
B. Pay for 26-50%of Extension Cost 26
C. Pay for 51-75%of Extension Cost 39
D. Pay for 76-10051.of Extension Cost 52
Sub-total Infrastructure Related: 0 131
Total from Applicant Section: 242 539
Total from Staff Section: 0 461
Total Public Benefit Points: 242 1000
y u n ry
1)How do I pay my petition filing fee?
Your petition filing fee can be paid either in person or via mail to: Or online via paypal at:
City Clerk's Office http://Sotithbetiditi.gov/government/
Attn:Deputy City Clerk .---content/tax-abaten►ent—.
227 West Jefferson Blvd.•Suite 400 S Filed in Clerks Office
South Bend,Indiana 46601
SEP 13 2017
2)Certified Technology Park appropriate?(Page one,under project overview)
In the South Bend area there are only two Certified Technology Parks,Innovation ark an A MOM/V ,� WLER
your property is not located in either then the answer would be►►o. CITY CLERK,SOUTH BENDr IN
3)Community Revitalization Enhancement District?(Page one,wider project overview)
The map below outlines the CRED area,please check to see if you fall within the boundaries.
CREeD District Boundary
_ - -- - —
Gracex South South
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ow n
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Poland
F Dunham
Fisher
3 Tull Tull
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Legend o r 'T A s` N
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CREeD DistnU � � IRJler,a (� n 1w y N
lJ South Bend Parcols =
4) Has any 504 funding been received? (Page one,under investment details)
504 Funding is a loan that come from the Small Business Administration. This fluiding must be applied for to be
received.
5)Total training expenditure-not cumulative(Page two,under frill time Indiana resident positions)
The amount of money to be spent per year on training over the course of the project.
6)Total number to be trained-not cumulative(Page two,under full time Indiana resident positions)
The amount of people that you will train per year over the length of the project.
If you have any additional questions that are not addressed by this document,please contact Sarah Heintzelman in the
Department of Community Investment at 574.235.5842 or emailatshrint e(aiuuthbrndim.vuv
Filed in Clerk's Office
STATEMENT OF BENEFITS ISEP FORM S13.1 /PP
PERSONAL PROPERTY 1. 3 2011
� Stale Form 51764(R21 12-11)
✓ Prescribed by the Department of Local Government Fine a PRIVACY NOTICE
KAnELMAI-i FOWLER The cost and any specific individual's
salary information is confidential;tho
CITY CLERK,SOUTH BEND,IN balance of lice filing is public record
INSTRUCTIONS: ..__..__._.�.-.-.-...--_.__�...____. -- - --.W._...
or IC G•1.1-12.1-5.1(c)and(d).
1. This statement must be submitted to ilia body designating the Economic Revitalization Area prior to the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted
to the designating body BEFORE a person installs the new manufacturing equipment and/or research and development equipment,and/or logistical distribution
equipment and/or information technology equipment for which the person wishes to claim a deduction. "Projects"planned or committed to after July 1, 1987,
and areas designated after July 1, 1987,require a STATEMENT OF BENEFITS. (lC 6-1.1-12.1)
2. Approval of the designating body(City Council, Town Board,County Council,etc.) must be obtained prior to installation of the new manufacturing equipment
and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment,BEFORE a deduction may
be approved
3. To obtain a deduction,a person must file a certified deduction schedule with the person's personal property return on a certified deduction schedule(Four)
103-ERA)with the township assessor of the township where file property is situated or with the county assessor if there is no township assessor for the
township. The 103-ERA must be filed between March 1 and May 15 of the assessment year in which new manufacturing equipment and/or research and
development equipment and/or logistical distribution equipment and/or information technology equipment is installed and fully functional, unless a filing
extension has been obtained. A person who obtains a filing extension must file the form between March 1 and the extended due date of that year.
4. Property owners whose Statement of Benefits was approved after June 30, 1991,must submit Form CF-1/PP annually to show compliance with the
Statement of Benefits. (1C 6-1.1-12.1-5.6)
5. The schedules established under IC 6-1.1-12.1-4.5(d)and(e)apply to equipment installed after March 1,2001,unless an alternative deduction schedule is
adopted by the designating body(IC 6-1.1-12.1-17).
SECTION •• •
Name of taxpayer
Maslerbill,Incorpporyated/1� C anr/s
Address WainulaSl.aSoNhnBandelR 486 leaf,City,stale,and ZIP code)
Name of contact person Telephone number
Rob Michalak
574.287.6567
SECTION • • AND DESCRIPTION OF •••• • PROJECT
Name of designaling body Resolution number(s)
Masterbilt,Incorporated
Location of property County DLGF taxing district number
325 S.Walnut St. St.Joseph
Description of manufacturing equipment and/or research and development equipment ESTIMATED
and/or logistical distribution equipment and/or information technology equipment.
(use additional sheets if necessary) START DATE COMPLETION DATE
Manufacturing Equipment 6/1/15 12/31/15
R&D Equipment
Machine tools:Turret Lathe and Swiss-style lathes-multi-spindle,multi-axis,Machining Center-5 axis milling
Logist Dist Equipment
IT Equipment
10
Current number Salaries Number retained Salaries Number additional Salaries
512,066twk 10 $12,066twk 2 514401wk
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
NOTE:Pursuant to IC 6-1.1-12.1-5.1 (d)(2)the MANUFACTURING R&D EQUIPMENT LOGIST DIST IT EQUIPMENT
EQUIPMENT EQUIPMENT
COST of the property is confidential. COST ASSESSED COST ASSESSED COS7 ASSESSED
COST ASSESSED
VALUE VALUE VALUE VALUE
Current values 1,066,808
Plus estimated values of proposed project 576,000
Less values of any properly being replaced 0
Net estimated values upon completion of project 11.641.808
SECTION • •AND OTHER BENEFITS PROMISED BY THE TAXPAYER
Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds)
Other benefits:
SECTION •
I hereby certify that the representations in this statement are true.
Signature of auth ri e iv/ Title / Dale signed(nwnlh,day,year)
o / 3
Page 1 of 2
i
FOR USE OF :•D
We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards
adopted in the resolution previously approved by this body. Said resolution,passed under IC 6-1.1-12.1-2.5, provides for the following limitations as
authorized under IC 6-1.1-12.1-2.
A.The designated area has been limited to a period of time not to exceed calendar years'(see below). The data this designation expires
is
8.The type of deduction that is allowed in the designated area is limited lo:
1. Installation of new manufacturing equipment; ®Yes El N o
2. Installation of new research and development equipment; 12 Yes 13 N o
3. Installation of new logistical distribution equipment. ®Yes O N o
4. Installation of new information technology equipment; 0Ye s ❑N o
C. The amount of deduction applicable to new manufacturing equipment is limited to$ cost with an assessed value of
$
D. The amount of deduction applicable to new research and development equipment is limited to$ cost with an assessed value of
E.The amount of deduction applicable to new logistical distribution equipment is limited to$ cost with an assessed value of
F. The amount of deduction applicable to new information technology equipment is limited to$ cost with an assessed value of
G. Other limitations or conditions(specify)
H. The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or
new information technology equipment installed and first claimed eligible for deduction on or after July 1,2000,is allowed for:
1 year ❑6 years "For ERA's established prior to July 1,2000,only a
2 years ❑7 years 5 or 10 year schedule may be deducted.
❑ 3 years ❑S years
❑4 years ❑9 years
1]5 years" ❑ 10 years"
I. Did the designating body adopt an alternative deduction schedule per IC 6-1.1-12.1-177 a Yes 13 No
If yes,attach a copy of the alternative deduction schedule to this form.
Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have
determined that the totality of benefits is sufficient to Justify the deduction described above.
Approved:(signature and titre of authorized member) Telephone number Dale signed(month,day,year)
Attested by: Designated body
If the designating body limits the time period during which an area is an economic revitalization area,it does not limit the length of time a taxpayer is
entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4.5
Page 2 of 2
RESOLUTION NO.
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN
THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
325 South Walnut Street, South Bend, Indiana 46617
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
(5) FIVE-YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
Masterbilt, Incorporated
WHEREAS,a petition for personal property tax abatement consideration has been filed with
the City Clerk for consideration by the Common Council of the City of South Bend, Indiana,
requesting that the area commonly known as 325 South Walnut Street, South Bend, Indiana
46617, and which is more particularly described as follows:
Business Personal Property
I
and which has Key Numbers 018-3076-3060 be designated as an Economic Revitalization Area
under the provisions of Indiana Code 6-1.1-12.1 et sue.,and South Bend Municipal Code Sections 2-
76 et sue., and;
WHEREAS,the Department of Community Investment 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 M., 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 Investment 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 SeMc., 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
e. The totality of benefits is sufficient to justify the deduction requested.
SECTION II. 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 as set forth in Sections 1 through 3 of the Petition for Personal Property Tax Abatement
Consideration and that Statement of Benefits form completed by the petitioner, said form being
prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under
Indiana Code 6-1.1-12.1-4.5.
SECTION III. The Common Council hereby accepts the report and recommendation of the
Department of Community Investment, and the Community Investment Committee's favorable
recommendation,that the area herein described be designated as an Economic Revitalization Area
for purposes of personal property tax abatement and hereby makes such a designation.
SECTION IV. 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 V. The Common Council hereby determines that the property owner is qualified for and
is granted property tax deduction for a period of(5)five years as shown by the attachment pursuant
to Indiana Code 6-1.1-12.1-17.
Year 1-100%
Year 2- 80%
Year 3- 60%
Year 4-40%
Year 5- 20%
SECTION VI. 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 pursuant to Indiana
Code 5-3-1,said publication providing notice of the public hearing before the Common Council on
the proposed confirming of said declaration.
SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approval by the Mayor.
2
Member of the Common Council
FinClerk's ice
R
ND,IN
3
RESOLUTION NO.
A RESOLUTION CONFIRMING THE ADOPTION OF A
DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY
KNOWN AS
325 South Walnut Street, South Bend, Indiana 46601
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A FIVE (5) YEAR PERSONAL
PROPERTY TAX ABATEMENT FOR
Masterbilt, Incorporated
WHEREAS, the Common Council of the City of South Bend, Indiana, has
adopted a Declaratory Resolution designating certain areas within the City as Economic
Revitalization Areas for the purpose of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area commonly known as
325 South Walnut Street, South Bend, Indiana 46601 and which is more particularly
described as follows:
Business Personal Property
and which has Key Numbers 018-3076-3060 be designated as an Economic Revitalization
Area; and
WHEREAS, notice of the adoption of a Declaratory Resolution and the public
hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5;
and
WHEREAS, the Council held a public hearing for the purposes of hearing all
remonstrances and objections from interested persons; and
WHEREAS, the Council has determined that the qualifications for an economic
revitalization area have been met.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
South Bend, Indiana, as follows:
SECTION I. The Common Council hereby confirms its Declaratory Resolution
designating the area described herein as an Economic Revitalization Area for the
purposes of tax abatement. Such designation is for personal property tax abatement only
and is limited to two (2) calendar years from the date of adoption of the Declaratory
Resolution by the Common Council.
SECTION II. The Common Council hereby determines that the property owner is
qualified for and is granted personal property tax deduction for a period of five (5) years
as shown by the attachment pursuant to Indiana Code 6-1.1-12.1-17 and further
determines that the petition, the Memorandum of Agreement between the Petitioner and
the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6,
of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et se-0
Year 1-100%
Year 2- 80%
Year 3- 60%
Year 4- 40%
Year 5- 20%
SECTION III. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approved by the Mayor.
Member of the Common Council
Filed in Clerk's Office
OCT 04 2017
PRESENTED
RIOT APPRr'�� [ KAREEIVI�,t-I FCV'1LER
CITY CLERK,SOUTH d PF-,JD:IN
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