HomeMy WebLinkAboutDesignating Tax Abatement - Curtis Products, Inc. 702 & 722 S. Carroll Street (5 Year Personal Property)Attest:
RESOLUTION
NO. 2845 -00
Passed by the Common Council of the City of South Bend, Indiana
March 13,
20 00
Presented by me to the Mayor of the City of South Bend, Indiana
March 14, 20 00
City Clerk
President of Common Council
Approved and signed by me Mnrrh 14, 20 on .
City Clerk
RESOLUTION NO. 271S-00
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
702 S. CARROLL STREET
722 S. CARROLL STREET
SOUTH BEND, INDIANA 46624
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
CURTIS PRODUCTS, 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 702 S. CARROLL STREET AND 722 S. CARROLL STREET,
South Bend, Indiana, and which is more particularly described as follows:
Lot A Monroe Sample Replat
Lot B Monroe Sample Replat
Lot G Monroe Sample Replat
Lot E Monroe Sample Replat
Lot F Monroe Sample Replat
and which has Key Number Numbers 18 3025 0910, 18 3025 0912, 18 3021 0793, 18
3024 090101, 18 35104 03004, 18 3092 3513, 18 3025 090401, 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 qualities as an Economic Revitalization Area under Indiana Code 6- 1. 1 -
12. 1, et seq., and South Bend Municipal Code Sections 2 -76, et seq., 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 he
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 I through 3 of the Petition for Personal Property Tax Abatement
Consideration 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.
SECITON 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 tile 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 3 -13-00
ROT APPROVED
ADOPTED
Member of the Common un
Filed in Cleric's Office
FEB 2 3 2000
LORETTA J. DUDA
CITY CLERK, $0. BEND, IN.