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HomeMy WebLinkAboutDesignating Tax Abatement - Honeywell, Inc. Aircraft Landing Systems 3520 Westmoor St. (10 Year Real Property)Attest: RESOLUTION 3013 -01 Passed by the Common Council of the City of South Bend, Indiana June 11, 01 20_. Presented by me to the Mayor of the City of South Bend, Indiana June 12, 20 01 City Clerk President of Common Council Approved and signed by me June 13 20 Ol City Clerk M RESOLUTION NO. 3� 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 3520 WESTMOOR STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR HONEYWELL, INC., AIRCRAFT LANDING SYSTEMS WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the atea commonly known as 3520 Westmoor Street, South Bend, Indiana, and which is more particularly described as follows: NESE 4 37 2E Tract 2 Cont 39.32 AC and which has Key Number 18- 2193 -7255, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et sea., and South Bend Municipal Code Sections 2 -76 et sea., 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 sea., 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; and WHEREAS, notwithstanding IC 6 -1.1 -12.1, the city may grant the assessed value deductions described if, before July 1, 2001, both the property owner and the city complete all the procedures required by IC 6 -1.1 -12.1 that would have been necessary to comply with IC 6- 1.1 -12.1 and for the city to grant the deductions. 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 that the Petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of Indiana Code 6 -1.1 -12.1 et sea., for tax abatement. SECTION 11. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development. B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation; D. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6- 1.1- 12.1 -3. SECTION Ill. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits set forth as Sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6- 1.1- 12.1 -3. SECTION IV. Pursuant to applicable state law, the property owner and the city will complete all requirements of IC 6-1.1 -12.1, which are necessary to be completed by July 1, 2001. SECTION V. The Common Council hereby accepts the report and recommendation of the Community and Economic Development Committee that the area herein described be designated as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION VI. The petitioner acknowledges that due to an inadvertent oversight, it did not file a real property tax abatement request simultaneously with its personal property request which was applied for on May 5, 1997 and approved as Resolution No. 2449 -97. The Common Council pursuant to Section 2 -84 of the South Bend Municipal Code finds that ten (10) years is the appropriate and rational time period for this tax abatement in light of the following: A. The company is a long time South Bend business, currently employing 798 people in its Aircraft Landing Systems division with an annual payroll in excess of $50,000,000. B. The company has invested over $7.5 million for the new building addition and has or will be investing another $49 million in equipment. C. The company has already seen employment growth of 18 new positions resulting from the building addition and new equipment purchases. D. The company is an anchor company in the 2 °" Councilmanic district, and is a leading corporation in the aircraft industry in the nation. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of ten (10) years. SECTION VII. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VIII. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of ten (10) years. SECTION IX. The petitioner and Common Council agree that prior to the hearing of the Confirmatory Resolution, that the petitioner and the Common Council will enter into a Memorandum of Agreement that will specifically identify the terms and conditions of this abatement. SECTION X. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION XI. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor, and shall be retroactive to May 5, 1997. PRISENTED �\ -0` aS kwvyAA NOT APPROVED ADOPTED Q-�� Uhl' Member of the Common Co ci S Filed in Clerk's Office JUN 1 2001 LORETTA J. DUDA CRT cmm SO. BEND, RL COMMITTEE REPORT TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 01 -54 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 3520 WESTMOOR STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR HONEYWELL, INC., AIRCRAFT LANDING SYSTEMS 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 as follows: Section IX. The petitioner and Common Council agree that prior to the hearing of the Confirmatory Resolution, that the petitioner and the Common Council will enter into a Memorandum of Agreement that will specifically identify the terms and conditions of this abatement. Section X. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 601.1 - 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. Section XI. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor, and shall be retroactive to May 5, 1997. Andrew Udjak Chairman