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Home My WebLink About5147-25 Modifying and Reconfirming Resolution - Personal Property Tax Abatement for Verbio North America LLC at 3201 West Calvert Street United States of America MINIMMIIII co r .7M N O •=•••••••.N CD * �; \:* : - -� X EIVED- * �.*��.. NOV 0 7 2025 NO VI 0 7 2025 ST. d ASSES OR COUNTY - r s. josAUDITOR _ U 'rQ�UNTY Certl� RECORDED AS PRESENTED ON fi c ate 1r CANDACES.BROWN ST.JOSEPH COUNTY RECORDER STATE OF INDIANA, COUNTY OF ST. JOSEPH, ss: PGS:4 FEES;25.00 I, Bianca L. Tirado, Clerk of the City of South Bend, County of St. Joseph, Indiana, hereby certify that the attached and foregoing is a full, true, and correct copy of RESOLUTION NO. 5147-25 A RESOLUTION MODIFYING AND RECONFIRMING THE ADOPTION OF DECLARATORY RESOLUTION NO. 5018-23 DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3201 WEST CALVERT STREET, SOUTH BEND, INDIANA 46613 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE-YEAR (5) PERSONAL PROPERTY TAX ABATEMENT FOR VERBIO NORTH AMERICA LLC ADOPTED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, OCTOBER, 27, 2025 PRESENTED TO, APPROVED AND SIGNED BY MAYOR JAMES MUELLER, OCTOBER, 30, 2025 ATTEST: CANNETH LEE, PRESIDENT OF THE COMMON COUNCIL ATTEST: BIANCA L. TIRADO, CITY CLERK the original of which is now on file in the office of the Clerk of the City of South Bend, St. Joseph County, Indiana. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official Seal of the City of South Bend, St. Joseph County, Indiana, this 7 ` day of /Vove. .bci 20 Z5 .�50UTlf 4 Bianca L. Tirado A 0� `„ill�l"`�. �sr Clerk of the City of South Bend k �\ I ^i/7� `� St. Joseph County, Indiana � ''♦ a ~�,i%fix \\:.) rF v - d By: V� �� .� Ma44 1Nc0.�'�+ , Deputy City Clerk ,�� 1 RfiS �� RESOLUTION No . 5147-25 Passed by the Common Council of the City of South Bend, Indiana October 27, 20 25 Attest: d W City Clerk Bianca L. Tirado Attest: President of Common Council ,99 Presented by me to the Mayor of the City of South Bend, Indiana October 28, 20 25 t ihtli\,/(!_vtAzig City Clerk Bianca L. Tirado Approved and signed by me Mot J- 3 ! 20 25 / FPi\-- Mayor $oUTk ,; 04` �ttillippip,�� . ►r ' /, . , max _ t�\" ��'. 1iv j85S BILL NO. 25-42 RESOLUTION NO. 5147-25 A RESOLUTION MODIFYING AND RECONFIRMING THE ADOPTION OF DECLARATORY RESOLUTION NO. 5018-23 DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3201 W. Calvert Street, South Bend, Indiana 46613 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE-YEAR (5) PERSONAL PROPERTY TAX ABATEMENT FOR Verbio North America LLC WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as an Economic Revitalization Area for the purpose of tax abatement consideration; and WHEREAS, Declaratory Resolution No. 5018-23 designated the area commonly known as 3201 W. Calvert Street, South Bend, Indiana 46613, and which is more particularly described as: Business Personal Property and which has Key Numbers to be assigned,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, upon proper notice, a public hearing was held, after which the Common Council issued Confirming Resolution No. 5025-23 on June 12, 2023, confirming the adoption of Declaratory Resolution No. 5018-23; and WHEREAS, Verbio North America LLC, a Foreign Limited Liability Company, was granted a designation period which expires on December 31, 2026, in Confirming Resolution No. 5025-23; and WHEREAS, Verbio North America LLC has begun a project to modernize the facility and operations located at the area designated, through the adoption of Declaratory Resolution No. 5018-23 and confirmed through the adoption of Confirming Resolution No. 5025-23, as an Economic Revitalization Area for the purpose of tax abatement consideration; and WHEREAS, the modernization project, upon completion, will employ proprietary technology and processes that will be eligible for federal tax credits that incentivize the development and implementation of technologies for renewable energy; and WHEREAS, Verbio North America LLC's advanced technology processes require approval from the federal Department of Energy; and WHEREAS, the Department of Energy's approval depends on guidelines to be issued by the Internal Revenue Service at a date expected to be no sooner than May 2026; and WHEREAS, following the publication of guidelines by the Internal Revenue Service, the Department of Energy's approval for Verbio North America LLC would be issued approximately one year later; and WHEREAS, because of delays in the issuance of guidelines by the Internal Revenue Service, Verbio North America LLC's project has been delayed, and installation of new industrial and manufacturing equipment cannot begin until Verbio North America LLC has received the necessary federal approvals; and WHEREAS, because of these delays, which are outside the control of Verbio North America LLC, the Petitioner has requested to extend the designation period confirmed by Confirming Resolution No. 5025-23; and WHEREAS, the Common Council desires to reconfirm the designation of a certain area designated by Declaratory Resolution No. 5018-23 and confirmed by Confirming Resolution No. 5025-23 as an Economic Revitalization Area for purposes of a five-year(5) personal property tax abatement; and NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby reconfirms Declaratory Resolution No. 5018-23 and Confirming Resolution No. 5025-23 designating the area commonly known as 3201 W. Calvert Street, South Bend, Indiana 46613, and which is more particularly described as: Business Personal Property and which has Key Numbers to be assigned, as an Economic Revitalization Area for purposes of a five-year(5)personal property tax abatement. SECTION II. The designation as an Economic Revitalization Area for purposes of a five-year(5) personal property tax abatement expires on December 31, 2030. SECTION III. The Common Council hereby determines that the Petitioner is qualified and is granted property tax deduction for a period of five(5) years as shown in Section V of Declaratory Resolution No. 5018-23 and further determines that the petition, the Statement of Benefits, and the Memorandum of Agreement between the Petitioner and the City of South Bend comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. SECTION IV. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. Canneth J. Lee, ouncil President South Bend Common Council Attest: taiikfr dou/t/t -- Bianca L. Tirado, City Clerk Office of the City Clerk Presented by me, the undersigned Clerk of the City of South Bend, to the Mayor of the City of South Bend, Indiana on the 28th day of October , 2025, at 12 o'clock p.m. Bianca L. Tirado, City Cle Office of the City Clerk Approved and signed by me on the 7 0fi� day of Molt"t" , 2025, at 2. o'clock m. James ueller, Mayor City South Bend, Indiana