HomeMy WebLinkAboutDesignating Tax Abatement - 3425 West Lathrop Drive - McCormick & CompanyRESOLUTION
3592-06
Passed by the Common Council of the City of South Bend, Indiana
May ZZ,
Attest:
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City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
May 23, 20 06
Approved and signed by me
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20 06
May 25
20_O.Cz .
City Clerk
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RESOLUTION NO. 3 ~ ~ ~-, - ~~
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
3425 WEST LATHROP DRIVE
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
MCCORMICK & COMPANY
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 3425 West Lathrop Dr., South Bend,
Indiana, and which is more particularly described as follows:
8.44 AC Tract; Mid PT S Side SE '/4 Beg 990' W & 40' N of SE Cor SE SEC
28-38-2E.
and which has Key Number 025-1010-0403.01 be designated as an Economic Revitalization
Area under the provisions of Indiana Code 6-1.1-12.1 et sec ., and South Bend Municipal Code
Sections 2-76 et sec ., 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 sec ., and South Bend Municipal Code Sections 2-76, et sec ., 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
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 and Economic Development, and the Community and Economic
Development 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) calendaz yeazs 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 five (5) yeazs.
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.
2
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.
PRESENTED S- LL-OV
NOT APPROVED
~DOPT[R !" S-LZ,a~
Mem er of the Comm Council
3
Filed In C1erk'~ office
r~9AY 1 5 2006
JOHN VS0 RBEN~, iN.
Ci'iV CLERK,
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
06-45 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 3425 WEST LATHROP DRIVE
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5)
YEAR PERSONAL PROPERTY TAX ABATEMENT FOR MCCORMICK &
COMPANY
Respectfully report that they have examined the matter and that in their opinion, this bill
is being recommended to the full Council with a favorable recommendation.
Karen L. White
Chairman