HomeMy WebLinkAboutDesignating Tax Abatement - Hubbell Electric Products A Division of Hubbell, Incorporated (Delaware) (5 Year Personal Property)Attest:
RESOLUTION
3331 -04
Passed by the Common Council of the City of South Bend, Indiana
May 24,
20 04 .
Presented by me to the Mayor of the City of South Bend, Indiana
May 25,
Approved and signed by me May 25,
u'
City Clerk
President of Common Council
20 04 .
City Clerk
1� -' ...
RESOLUTION NO. 3331-()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
3902 W. SAMPLE STREET
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
HUBBELL ELECTRICAL PRODUCTS
A DIVISION OF HUBBELL, INCORPORATED (DELAWARE)
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 3902 W. Sample Street,
South Bend, Indiana, and which is more particularly described as follows:
Irregular Tract 830.8' on Sample St. NW NE Sec 16- 37 -37 -2E 18.25 AC M or L
and which has Key Number 18- 8112 -4203 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 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 s�Mc., and South Bend Municipal Code Sections 2 -76 et
sM., 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
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, the Memorandum of Agreement between the
Petitioner and the City of South Bend and that the 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.
PRESENTED 5- zy -o`1
NOT APPROVED
ADOPTED -' S
ember of the Common Codncil
Filed In Clerk's Office
h4 AY ? 7 2004
JOHN VOOHDE
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
04 -52 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 3902 W. SAMPLE STREET AN
ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5)
YEAR PERSONAL PROPERTY TAX ABATEMENT FOR HUBBELL ELECTRICAL
PRODUCTS, A DIVISION OF HUBBELL, INCORPORATED (DELAWARE)
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.
Sean Coleman
Chairman