HomeMy WebLinkAboutDesignating Tax Abatement - Fulton Industries Inc. 4050 Ralph Jones Dr. (5 Year Personal Property)Attest:
RESOLUTION
3409 -05
Passed by the Common Council of the City of South Bend, Indiana
January 10, 2005
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
January 11, 20 05
Approved and signed by me January 12, 20 05
City Clerk
RESOLUTION NO. 3 �q-
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
4050 RALPH JONES DRIVE
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
FULTON INDUSTRIES, 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 4050 Ralph Jones Drive, South
Bend, Indiana, and which is more particularly described as follows:
Lots Numbered Sixteen (16) and Seventeen (17) as shown on the recorded Plat of
Toll Road Industrial Park Section 6, recorded April 7, 1989 as Document Number
8908570 in the Office of the Recorder of St. Joseph County, Indiana
and which has Key Numbers 25 -1013- 021107 and 25- 1013 - 021201, be designated as an
Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et M.,
and South Bend Municipal Code Sections 2 -76 et se q., 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 seq., and South Bend Municipal Code Sections 2 -76, et M.,
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
C. the totality of benefits is sufficient to justify the deducti on requested.
SECTION Il. 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) 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.
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.
Member of the Common
PRESENTED L - l " -' ] qS 'R
NOT APPROVED p p
ADOPTED ' 10-DS� QS av" AO7
Filed in Clerk's Office
JAN 1 1 2005
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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.
05 -01 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 2050 RALPH JONES DRIVE AN ECONOMIC
REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR
PERSONAL PROPERTY TAX ABATEMENT FOR FULTON
INDUSTRIES, 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 as
amended by replacing the address of 2050 to 4050 Ralph Jones Dr.
Roland Kelly
Chairman