HomeMy WebLinkAboutNo. 2845 approving an application for an increase in personal property tax deduction (abatement for McCormick & Co., Inc.)G
RESOLUTION NO. 2845
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROVING AN APPLICATION FOR
AN INCREASE IN PERSONAL PROPERTY TAX DEDUCTION
WHEREAS, I.C. 6- 1.1- 12.1 -2(1) provides that an application for property tax deduction
may not be approved when the property is located in an allocation area as defined in I.C. 36 -7-
14-39, unless the Redevelopment Commission which designated that allocation area adopts a
resolution approving that application; and
WHEREAS, on July 9, 2010, the Redevelopment Commission adopted Resolution No.
2677, approving a five year personal property tax abatement for McCormick & Company, Inc.,
based upon an investment of $1,362,173.00, as amended, in the Airport Economic Development
Area, in Allocation Area No. l; and
WHEREAS, on January 24, 2011, the South Bend Common Council adopted Resolution
No. 4076 -11, also approving the application made by McCormick & Company, Inc.; and
WHEREAS, McCormick & Company, Inc., has filed an application to increase its
investment from $1,362,173.00 to $8,136,599.00, an increase of $6,774,426.00.
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Commission as follows:
1. The Commission finds that the application from McCormick & Company, Inc.,
for an increase in its personal property tax abatement from $1,362,173.00 to $8,136,599.00, an
increase of $6,774,426.00, should be and is hereby approved.
2. All findings and action taken in Resolution No. 2677 are hereby confirmed.
3. That a copy of this resolution be forwarded to the South Bend Common Council
to indicate the Commission's approval of the application for an increase in personal property tax
abatement for McCormick & Company, Inc.
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ADOPTED at a regular meeting of the South Bend Redevelopment Commission held on
February 8, 2011, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, M
46601.
ATTEST:
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Nancy N. King, Secretary
Printed Name and Tille
South Bend Redevelopment Commission
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CITY OF SOUTH BEND,
DEPARTMENT OF REDEVELOPMENT
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Marcia I. Jones President
Printed Name and Title
South Bend Redevelopment Commission