HomeMy WebLinkAbout20-13 Designating Personal Property Tax Abatement for Bamar Plastics 0458�'"� MAY n 6 2020
PEACEra
CI)1'CL.LIiK, SOUTH BEND,IN
1865
CITY OF SOUTH BEND
COMMUNITY INVESTMENT
May 6, 2020
Council Member Jake Teshka, Chairperson
Community Investment Committee
South Bend Common Council
4th Floor, County City Building
South Bend, IN 46601.
RE: Personal Property Tax Abatement Petition for: Bamar Plastics, Inc.
Dear Council Member Teshka:
Please find the attached information pertaining to a personal property tax abatement petition submitted
by a woman-owned business, Bamar Plastics, Inc. to purchase the new manufacturing equipment for a
facility located at 1702 Robinson Street, South Bend, IN 46613.The company,which has primarily served
the automotive industry, is expanding into medical device manufacturing.This petition package includes:
➢ Department of Community Investment's summary report
➢ Petition
➢ Statement of Benefits Personal property form
> Supporting information
The report contains the Department's findings relative to the petition. The petitioner proposes to
purchase the new manufacturing equipment with estimated cost of $647,000. A representative from
Bamar Plastics will be available to meet with the Committee on Monday, May 11, 2020.
Should you or any of the other Council members have any questions concerning the report, or need
additional information, please feel free to email or me at dbuckenm@southbendin.gov.
Sincerely,
Daniel J. Buckenmeyer
Director, Business Development
D.\IEI.J.BUCKEN\[EYF.R ALKEVNA ALI)RIDGE PAMELA MEYER t`IM C:ORCORAN
BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DEVELOPMENT PANNING&CO\I\[UN!I V RESOURCES
EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT
14005 County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov
TAX ABATEMENT REPORT
TO: South Bend Common Council
FROM: Daniel Buckenmeyer, Director of Business Development
SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION
FOR: BAMAR PLASTICS,INC.
DATE: May 6, 2020
On Monday, April 20, 2020, a petition from Bamar Plastics, Inc. was received and
subsequently filed with the City Clerk for a personal property tax abatement. Bamar
Plastics is located at 1702 Robinson Street, South Bend, IN 46613. 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) and makes the following report.
PROJECT SUMMARY
D Private investment in personal property — new manufacturing equipment, with
purchase price of$647,000.The company is planning to purchase large presses and
IT equipment.
D A woman-owned business, Bamar Plastics, which has primarily served the
automotive industry, is expanding its business product line and moving into the
medical field. The medical line requires high volumes, larger part sizes and
assembly.
D An estimated amount of personal property taxes for a 5-year period with this private
investment is $11,673.
EMPLOYMENT IMPACT
Per this petition, it is estimated that the company will:
D Retain fourteen (14) permanent full-time jobs representing a total annual payroll
of$680,205. The hourly average wage is $23.35.
D Create one (1) new permanent, full-time job within the first year of this tax
abatement with a total estimated annual payroll of$60,000. The estimated hourly
average wage is$28.85.
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted, finds that the petitioner has
been granted or associated with two previous abatement.
a. Resolution#2782-99, 5-Year Personal Property
b. Resolution#4440-15, 5-Year Personal Property
2. The Area Plan Commission 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 not located in a TIF district.
4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner
meets the qualifications for a five (5) year personal tax abatement under section 2-
84.2,Tangible Personal Property Tax Abatement.
5 YEAR
6-May-20
Bamar Plastics
South Bend Portage Township
Personal Property Tax Abatement Schedule*
Tax Key Number TBD
Current Assessed Value: 0
Estimated Project Cost: 647,000
100% 95% 85% 75% 65%
Year 1 Year 2 Year 3 Year 4 Year 5
Current
Assessed Value: AV&Tax
Current Assessed Value 100% 0 0 0 0 0 0
Base Assessed Value 258,800 388,200 355,850 291,150 239,390
Less Abatement Deduction (258,800) (368,790)
(302,473) (218,363) (155,604)
Net Assessed Value 0 0 19,410 53,378 72,788 83,787
Property Taxes:
Assume constant tax rate of 5.0894% 5.0894% 5 0894% 5.0894% 5.0894% 5.0894%
Gross Tax(tax rate x net assessed value) 0 0 988 2,717 3,704 4,264
Less Circuit Breaker Credit 0 0 0 0 0 0
Net Tax - 0 0 988 2,717 3,704 4,264
Circuit Breaker Cap
Circuit Breaker 3.0000% 0 7,764 11,646 10,676 8,735 7,182
Debt Service 0.0000% 0 0 0 0 0 0
Circuit Braker Cap 0 7,764 11,646 10,676 8,735 7,182
New Combined Net
Existing Project Existing&New Tax Tax
Year Taxes Taxes Taxes Abated Paid
Year 1 0 7,764 7,764 7,764 0
Year2 0 11,646 11,646 10,658 988
Year 3 0 10,676 10,676 7,959 2,717
Year 4 0 8,735 8,735 5,030 3,704
Year 5 0 7,182 7,182 2,918 4,264
Totals 0 46,002 46,002 34,329 11,673
*This schedule is for estimation purposes only and assumes constant tax rates. The true tax values
will ultimately be determined by the actual assessed valuation and the then current tax rates.
City of South Bend
Petition for Incentives
Nn„
Petition must include a$250 filing fee payable to the City Clerk's Office or online via the City's website at -r?`
http://southbendin.gov/government/content/tax-abatement before processing con be complete
General Information Project Name 20-21 Automation Project Number
legal name as registered with Secretary of
State Bamar Plastics, Inc.
Business structure
Manufacturer
Company website www.bamarplastics.com
Proposed Project Information
Proposed project address 1702 Robinson St. Parent company name
G`y's"`a' South Bend,IN 46613 Legal°""e` Heather Meixel
Ate acreage or acreage required is the real estate owned or
Leased
je>te-1
Square feet of facility 35,000 Ifleased by whom HCDM Real Estate Holdings LLC
Primary Contact Information
Primarycompany contact name Tricia Blair Title Controller I Secretary
Address of company contact 1702 Robinson St. Phone 574-234-4066
Obi,State,Tip So..:h Bend,IN 46613 Email tblair@bamarplastics.com
Senior Official Information
Company senior official name Heather Meixel title President/Owner
Address of company contact(if different from Phone 574-309-1892
above)
City,state,zip I Email heather@bamarplastics.com
Consultant information/Agent
Hired business consultant/agent name !Consultant release(Y/N)
Address 1 Local economic development partners
apo,oval prier)
City,State,Zip Erneil
Project Overview
Brief description of your
company,project,and wny the Bamar Plastics, Inc. is a custom injection molder of small parts. In the past we
property is necessary for primarily served the automotive industry(90%). We are moving into the medical
economic growth devices manufacturing arena. The medical field requires high volumes, larger
part size and assembly. In order to be competitive in this space we need larger
presses, automation and improved IT capabilities. This expansion of services
and capabilities is vital to the continuation of the company.With the recent
COVID-19 Pandemic and the shutdown of the automotive sector worldwide it is
imperative our company pivot into other markets.
This is necessary for the company's growth,diversification and continued
viability.
Certified Technology Park appropriate -
Is the project Ina Tact moemerttal Financing
ftii l area?If so.whicfe?
Certify that the Building Permit has not been Number of residential units created by
Issued tv/Ai) ArElest
H this is a petition for personal property tan abatement,has
the epufpment been lntU lied No, (some equipment has been ordered)
Investment Details 1
Public Infrastructure needs(Offs Has any SO4 handing been What is the value of any equipment being purchased in What is the vase of any equlpment being
site of project In dollars) received? Indiana for the project? purtlrased from out of state for the project?
S60.000 (estimated) $590.000 (estimated)
New Prosect Investments
Calendar Year 2020 2021 2022 2023 2024 2025 2026 2027
Land Acquisition
Building lease Payments
8uklding Purdtase Costs
New Buik:ng Construction
Existing Building Improvements
New Machinery C Equipment S 210.000.00 S 220,000 00
Special Tooling/Retooling
New Furniture/Fixtures
New Computer/IT Hardware $55,COO 00 S'62,000 GO
New Software
On-site Rail Infrastructure -
On-site Fiber btfrastructare
TOTAL $265,000 00 $382 000 00 $0 00 $0.00 $0.00 $0 00
$000 $000
Full-Time Permanent Indiana-Resident Positions by Calendar Year
Calendar Veer Jobs retained Total hourly Cumulative o 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 cumlddlfve
2020 __
2021
ton __--
2023
2024
2025
2026 - _----_..1
11
I027
2028
2029
2030
2031
Provide hourly wage information for new employees in the following positions.
Full time Part time
Laborers i
Tedmiol Managerial
Administrative -- --
Administrative
Who will lee me individual responsible for coordinating Midi
wortOne on recruiting? Tricia Blair
Does you r co perry have an EEO hung policy? Are you an EEO employer?
I
Please list the number of full time and part time minority and/or female employees for each of Weare describe your commitment to
the art three years: diversity and inclusion by detailing your
Year _., outreach and recruitment efforts for the tart
• - -- -- = three years as well es current policies.
11111111.1.1. Full Time Pert Time Full Time Pert Time Futl Time Part Time
Bladc j
HispanicBaa Faits.NiIh Slfcc Recruit-.ent Fats orad
1 Indeed to-cacti poienbal candidates we Case
Asian --- — — -- m
hn)0e:islnrs so'e'.y cn Ire care-dales ab.11y
to compete the rb
_ - our
We Mil cdntnue to use resources at o
IndianI2 disposal
Female - .,1 -tine orient nu nue•s mtludcd lenrmaled
enp'oyees thrdushcul Me year as wet
Other 20 11 3 '0 3
Complete below for Real or Personal Property Tax Abatement only.
Please sign for all requested incentives.
Public Benefit Item:
Information is required on both the construction companies and the
companies which will provide materials purchased for this project.
Qualify
Please complete the table below with the appropriate information. If Earned Points Available Points
you qualify for the points,please enter the full amount of available (Yes or No)
points.
1 Construction Related(Contractors):
-
A. Employ Local Companies(75%) N/A _.
B. Purchase Materials from Local Companies(75%) N/A 37)
C. Require Employees vs.Independent Contractors N/A
D. Require Prevailing Wage(Davis Bacon) ."NIA -_
E Require Health Benefits NIA
F. Require Pension Benefits N/A IR
G. Maintain Affirmative Action Plan N/A Ti)
Sub-total Construction Related: G 1-it
2 Wage&Benefit Related(Owner):
A. Pay Target Wage Levels YES 33
B. Provide Health Benefits "ES 34
C. Provide Pension Benefits "ES 29 79
0. Provide Training YES 28 28
E. Provide Child Care NO C 55
F. Provide Transportation Assistance NO C _
G. Provide Employer Assisted Housing program NO 0 9
Sub-total Wage&Benefit Related: 124 -,,=
3 Workforce Related:
A. Create New Jobs !ES 42 d:
B. Retain Existing Jobs ii ES 41 'Ii
C. Maintain Affirmative Action Plan CS 35 35
D. Provide Targeted Hiring Preference
YES 34
Sub-total Workforce Related; 152 1�.'
4 Support a Municipal Facility:
Support a SB Municipal Facility(donations to the
A. zoo,conservatory,museum,etc.) IN Q d4
Name of Facility
'Sub-total Municipal Facility: SI
Suh•total from Above: 3 ;_'
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 Bend Municipal Code Sec.2-76 et seq.,fcr this petition state the above.
Submitted By: I 1_� ,;,..,__ L�x-c-i Date: '/lt;1C/ ;?C.i;-e
For Staff Use Only Below This Line
What Is the current assessed value? Real Property: Personal Property: // U'o
What Is the protected assessed value? Real Property:
P
l Property: Personal Prp e CJ�"�
What Is the las key number for this project?
;7/-/2.6' -b...7.DCO - C>.
What is the six digit NAICS code?
Please attach a Google map and street view of the location.
Pt ease list the amount of real and personal property taxes Real Property Taxes: Personal Property Taxes:
paid for the last five years when applicable.
cfgO!n /.! .0)Vear One ��
�'Sd{ i�
Year Two
Year Three o -5—.
'/
cam( .1.3 4Z 5-
,;?,Cid
,,?c'l '! Year Tour �1 y 16/r
��'/ , 'ld Year live / / /
Please RII out the following Public Benefit Summary Information and add to total from above.
fYorNi Points Points
Public Benefit Item:
Mienitiggt
5 A. Redevelop a Site that has Special Needs 49
B Develop Based on Local University Research 3 r-.>Achieve a Physical Element of a Plan .,
l
1Sub-total Project Related: :;tl
6 Svoer She Prolects fooftit values are cumulative]:
A. 100%to 199% •
B. 200%to 299% d„
C. 300%to 399% 6
D. 400%and Over _ 7.....--7—;) :_
Sub-total Super She Projects: 210
i Qay for Mumdpal Infrastructure:
A Pay for Overslting or Upgrading
B Pay for 25-50%of Extension Cost 5--,7 26
C. Pay for 51-75%of Extension Cost
` J 9
D Pay for 76-100%of Extension Cost 52
ISub-total ludrastructure Related: /
Total from Applicant Section: 2 7 b S39
Total from Staff Section: 0 461
Total Public Benefit Points: 2..7 6 1
-,""t4,,, STATEMENT OF BENEFITS [ FORM SB-1 I PI-;-1
iii . PERSONAL PROPERTY
�'\ State Form 51764(R4l 1 1-15)
- _.�f Prescribed by the Department of Local Government Finance PRIVACY NOTICE
Ary inform_. _ ,.ty the 2051
or the propery arm :peat c salaries paid
to individual employees by the property
owner is confidential per IC 6-1 1-12.1-5.1
INSTRUCTIONS
1. This statement must be submitted to the 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.
2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the installation
of qualifying abatable equipment for which the person desires to claim a deduction.
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
(Form 103-ERA)with the township assessor of the township where the property is situated or with the county assessor if there is no township assessor
for the township. The 103-ERA must be filed between January 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 January 1 and the extended
due date of that year.
4 Property owners whose Statement of Benefits was approved,must submit Form CF-1/PP annually to show compliance with the Statement of Benefits.
(IC 6-1.1-12.1-5.6)
5. For a Form SB-1/PP that is approved after June 30,2013,the designating body is required to establish an abatement schedule for each deduction allowed.
Fora Form SB-1/PP that is approved prior to July 1,2013,the abatement schedule approved by the designating body remains in effect. (IC 6-1.1-12.1-17)
SECTION 1 TAXPAYER INFORMATION
Name of taxpayer Name of contact person
Bamar Plastics, Inc. Tricia Blair
Address of taxpayer(number and street,city state,and ZIP code) Telephone number
1702 Robinson St.South Bend, IN 46613 1 574 ) 234-4066
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name of designating body Resolution number(s)
South Bend Common Council
Location of property County DLGF taxing district number
1702 Robinson St.South Bend,IN 46613 St.Joseph
Description of manufacturing equipment and/or research and development equipment ESTIMATED
and/or logistical distribution equipment and/or information technology equipment. START DATE COMPLETION DATE
(Use additional sheets it necessary.)
Injection Molding Presses Material Grinders Manufacturing Equipment 04/01/2020 01/31/2022
Robots Computers R&D Equipment
Conveyors Phone System
Pickers IT Server Logist Dist Equipment
ERP System CAD System IT Equipment
A- •, i• -u
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
CJr-enl number 1SalariesI Number retained Salaries Number additional Solaces
14 1660,205 14 $680,205 1 $60,000
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
NOTE:Pursuant lc 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 i COST ASSESSED COST ASSESSED
VALUE VALUE VALUE VALUE
Current values 2,587,513 L 70,111
Plus estimated values of proposed project 432,104 E f 217,000
Less values of any property being replaced 148,000 13,000 •
Net estimated values upon completion of project 2,871,617 274,111
SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER
Estimated solid waste converted(pounds) _ I Estimated hazardous waste converted(pounds)
Other benefits
SECTION 6 TAXPAYER CERTIFICATION
I hereby certify that the representations in this statement are true.
Signature of authorized ren Wive - Date signed( nth.d year)
1Lr C.cr` �'� -tet yob 3dgo
Printed name of authorized representativeTide
Tricia Blair 1 Secretary
Page 1 of 2
FOR USE OF THE'DE81 c G BODY
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 date this designation expires
is . NOTE.This question addresses whether the resolution contains an expiration date for the designated area
B. The type of deduction that is allowed in the designated area is limited to
1 .Installation of new manufacturing equipment; 0 Yes 0 N o ❑ Enhanced Abatement per IC 6-1.1-12.1.18
2.Installation of new research and development equipment; 0 Yes 0 No Check box if an enhanced abatement was
approved for one or more of these types.
3. Installation of new logistical distribution equipment. 0 Yes 0 N o
4.Installation of new information technology equipment; ❑Yes ❑ N
C.The amount of deduction applicable to new manufacturing equipment is limited to$ cost with an assessed value of
$ . (One or both lines may be filled out to establish a limit,if desired.)
D.The amount of deduction applicable to new research and development equipment is limited to$ cost with an assessed value of
S . (One or both lines may be filled out to establish a limit,if desired.)
E. The amount of deduction applicable to new logistical distribution equipment is limited to$ cost with an assessed value of
. (One or both lines maybe filled out to establish a limit,if desired)
F. The amount of deduction applicable to new information technology equipment is limited to$ _ cost with an assessed value of
3 . (One or both lines may be filled out to establish a limit,if desired.)
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 is allowed for:
0 Year 1 0 Year 2 0 Year 3 0 Year 4 0 Year 5 0 Enhanced Abatement per IC 6-1 1-12.1-18
Number of years approved:
0 Year 6 0 Year 7 0 Year 6 0 Year 9 0 Year 10 (Enter one to twenty(1-20)years,may riot
exceed twenty(20)years.)
I. For a Statement of Benefits approved after June 30,2013,did this designating body adopt an abatement schedule per IC 6-1.1-12.1-17? ❑Yes 0 No
If yes,attach a copy of the abatement schedule to this form.
If no,the designating body is required to establish an abatement schedule before the deduction can be determined.
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 by:(signature and title of authorized member of designating body) Telephone number Dale signed(month,day year/
( )
Printed name of authorized member of designating body Name of designating body
Atte.ied by is;gnatum and fire of atteste,) Printed name of attester
•If the designating body limits the time period during which an areas an economic revitalization area,that limitation does not limit the length of time a
taxpayer is entitled to receive a deduction to a number of years that is less than the number of years designated under IC 6-1.1-12.1-17.
IC 6-1.1-12.1-17
Abatement schedules
Sec 17.(a)A designating body may provide to a business that is established in or relocated to a revita'ization area and that receives a deduction under section 4 or 4.5
of this chapter an abatement schedule based on the following factors:
(1)The total amount of the taxpayer's investment in real and personal property.
(2)The number of new full-time equivalent jobs created.
(3)The average wage of the new employees compared to the state minimum wage.
(4)The infrastructure requirements for the taxpayer's investment.
(b)This subsection applies to a statement of benefits approved alter June 30,2013.A designating body shall establish an abatement schedule for each deduction
allowed under this chapter.An abatement schedule must specify the percentage amount of the deduction for each year of the deduction. An abatement schedule may
not exceed ten(10)years
(c)An abatement schedule approved for a particular taxpayer before July 1,2013,remains in effect until the abatement schedule expires under the terms of the
resolution approving the taxpayer's statement of benefits.
Page 2 of 2
MAY n 6 2020
BILL NO. 20-13
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
1702 Robinson Street, South Bend, Indiana 46613
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
(5) FIVE-YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
Bamar Plastics, Inc
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 1702 Robinson Street,South Bend,Indiana 46613,and
which is more particularly described as follows:
Business Personal Property
and which has Key Numbers to be assigned, be designated as an Economic Revitalization Area
under the provisions of Indiana Code 6-1.1-12.1 et seq.,and South Bend Municipal Code Sections 2-
76 et seq., 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 seq., 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 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 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 three(3)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 below pursuant to Indiana
Code 6-1.1-12.1-17.
Year 1-100%
Year 2- 95%
Year 3- 85%
Year 4- 75%
Year 5- 65%
2
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.
Tim Scott, Council President
South Bend Common Council
3