HomeMy WebLinkAboutConfirming Tax Abatement - Triangle Machine Inc. 3702 W. Sample St. Suite 1125 (5 Year Personal Property)RESOLUTION
3485 -05
Passed by the Common Council of the City of South Bend, Indiana
July 11,
Attest:
20 05
Presented by me to the Mayor of the City of South Bend, Indiana
July 12, 2005
City Clerk
President of Common Council
City Clerk
Approved and signed by me July 13 , 2005 .
0
RESOLUTION NO. 31 9 � " 6 S
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
3702 WEST SAMPLE STREET, SUITE 1125
TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
TRIANGLE MACHINE, INC.
WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory
Resolution designating certain areas within the City as Economic Revitalization Areas for the
purpose of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area commonly known as 2702 W. Sample
St., Suite 1125, South Bend, Indiana, and which is more particularly described as follows:
Parcel of land, North West of North East Section 1637 2E. Containing 5.4021 2E acear or
less.
and which has Key Numbers 18- 8112 - 421507, as an Economic Revitalization Area; and
WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the
Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and
WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and
objections from interested persons; and
WHEREAS, the Council has determined that the qualifications for an economic revitalization
area have been met.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
Indiana, as follows:
SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the
area described herein as an Economic Revitalization Area for the purposes of tax abatement.
Such designation is for Personal property tax abatement only and is limited to two (2) calendar
years from the date of adoption of the Declaratory Resolution by the Common Council.
SECTION II. The Common Council hereby determines that the property owner is qualified for
and is granted Personal property tax deduction for a period of five (5) years, and further
determines that the petition complies 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 III. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approved by the Mayor.
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FRESENiEd \N."` l�
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Member of the Comm n Council
Filed In lerk's Office
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1200 CouN Y -Ow BmDwG
227 W JEFFERSON BOULEVARD
SOUTH BEND, INDIANA 46601 -1830
PHONE 574/235 -9371
FAx 574/235 -9021
TDD 574/ 235 -5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY & ECONOMIC DEVELOPMENT
June 14, 2005 SHARON T. KENDALL
EXECUTIVE DIRECTOR
Council Member Ann Puzzello, Chairperson
Community & Economic Development Committee
South Bend Common Council
4th Floor, County City Building
South Bend, IN 46601
RE: Personal Property Tax Abatement Petition for:
Triangle Machine, Inc.
Dear Council Member Puzzello:
Please find attached the Department of Community & Economic Development's report on a personal
property tax abatement petition for the above referenced petitioner. The project calls for the acquisition and
installation of new machinery and equipment at the company's South Bend Facility at 3702 W. Sample
Street, Suite 1125. Also attached is a copy of the petition, Statement of Benefits form and supporting
information.
The report contains the Department's findings relative to the above petition. Triangle Machine will be
purchasing and installing new machinery and equipment. The total project cost is estimated at $253,000.
The project meets the qualifications for five (5) year personal property tax abatement and a representative
from Fulton Industries will be available to meet with the Committee on Monday, June 27, 2005.
Should you or any of the other Council members have any questions concerning the report or need additional
information, please feel free to call me at 235 -5825.
Sincerely,
Tedd Schaffer
Economic Development Specialist
Attachments
c: South Bend Common Council Members
Mayor Stephen Luecke
Sharon Kendall
Don Inks
Bob Mathia
COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCGV. & PROGRAM
PNAEU C. MEYER DONNA E. INKS MANAGEMENT
574/235 -9660 574/235 -9371 ELIZABETH LEONn
FAX: 574/235 -9697 574/235 -9371