HomeMy WebLinkAboutDesignating Tax Abatement - IRBN Inc. 2115 W. Western Ave. (5 Year Personal Property)Attest:
RESOLUTION
4341 -14
Passed by the Common Council of the City of South Bend, Indiana
April 14,
14
20 .
City Clerk
President of Common Council
by me to the Mayor of the City of South Bend, Indiana
April 15, 20 14
Approved and signed by me n Q p L 15 20� .
City Clerk
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RESOLUTION NO. '(T-t(-
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
2115 WEST WESTERN AVENUE
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
IRBN, 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 2115 West Western Avenue, South Bend,
Indiana, and which is more particularly described as follows:
Beg 603.53' E of Inter of
E Right of Way of Olive Street
N Right of Way of Western Ave
W %x NE %a Sec 10 -37 -2e
Cont Approx 6.622 Ac +-
and which has Key Number 018 - 4096 - 358109, 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 M., 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 s�Mc., and
South Bend Municipal Code Sections 2 -76, et sue., 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 M., 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 and Petition for Tax Incentives 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 five (5) years as shown by the attachment
pursuant to Indiana Code 6 -1.1- 12.1 -17; provided however, the Petitioner may not receive an
economic revitalization area deduction if it receives an enterprise zone investment deduction
under I.C. 6- 1.1 -45 for the same property.
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
the Common Council and approval by the Mayyr---;�
vttESENTED
NOT APPRO.YEd
ADOPTED�'y -l"'�q `�1
from andk ter its adoption by
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TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
14 -34 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 2115 WEST WESTERN AVENUE
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES
OF A FIVE (5) YEAR PERSONAL PROPERTY TAX
ABATEMENT FOR IRBN, INC
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.
This bill was heard by the Community Investment Committee.
Valerie Schey
Chairperson, Committee of the Whole