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HomeMy WebLinkAboutConfirming Tax Abatement - Steel Warehouse Co. Inc. 515 W. Ireland Rd. (5 Year Personal Property)RESOLUTION NO. 2796 -99 Passed by the Common Council of the City of South Bend, Indiana October 11, ,o 99 Attest. Clerk President of Common Council. Presented by me to the Mayor of the City of South Bend, Indiana October 11, 19 99 . Approved and signed by me Qptol4.,.14 19 99 City Clark Mayor RESOLUTION NO. T l � A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 515 WEST IRELAND ROAD, SOUTH BEND, INDIANA, TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR LOCK JOINT TUBE, INC./KEYCORP CAPITAL LEASING/ STEEL WAREHOUSE CO. 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 515 West Ireland Road, South Bend, Indiana, and which is more particularly described as follows: A parcel of land located in the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E. 1/4) of Section Twenty-Six (26), Township Thirty-Seven (37) North, Range Two (02) East of the Second (2nd) Principal Meridian and all being in Center Township, City of South Bend, St. Joseph County, Indiana and being more particularly described as follows: Commencing at the southeast comer of the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty-Six (26); thence South 90 °- 00' -00" West (Bearing derived from description shown in Title Commitment 9501843 ) as issued by St. Joseph Title Corp.), along the south line of the Southeast Quarter (S.E.1 /4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty-Six (26) and also being along the centerline of a public road now known as Ireland Road, a distance of 400.00 feet; thence North 010- 30' -47" East, parallel with and 400.00 feet west of the east line of the Southeast Quarter (S.E. 1/4) of said Section Twenty-Six (26), a distance of 40.01 feet to the Point of Beginning of this description, said point of beginning being on the north right of way line of said Ireland Road and also being the southwest comer of a parcel conveyed to Roger R. Atwell and Eleanor Atwell as described in Quit Claim Deed No. 9416618; thence South 90 °- 00' -00" West, along said north right of way line of Ireland Road and being parallel with and 40.00 feet north of the south line of the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E. 1/4) of said Section Twenty-Six (26), a distance of 891.36 feet to a point on the west line of the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E. 1/4) of said Section Twenty-Six (26) and also being the southeast corner of a parcel conveyed to Louanne Osborne as described in Warranty Deed 9326881; thence North 000- 58' -55" East, along the west line of the Southeast Quarter (S.E.1 /4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty -Six (26) and also being along the east line of said parcel conveyed to Louanne Osborne and also along the east line of a parcel conveyed to Transit Mix, Inc. as described in Warranty Deed 9018257, a distance of 955.26 feet to a point which is South 000- 58' -55" West -- 314.00 feet from a stone found at the northwest corner of the Southeast Quarter (S.E.1 /4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty-Six (26); thence North 890- 42' -44" East, along the south line of two (02) parcels conveyed to Miles Laboratories, Inc. as described in Warranty Deed 7903212 and Warranty Deed 8501215, a distance of 1270.41 feet to a point on the west right of way line of a public street now known as Lafayette Street; thence South O10- 30' -47" West, along said west right of way line of Lafayette Street and being parallel with and 30.00 feet west of the east line of the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty -Six (26), a distance of 602.05 feet to the northeast corner of a parcel conveyed to Arthur Fontonelli and as described in Warranty Deed 9335926; thence South 90 ° -00'- 00" West, along the north line of said parcel conveyed to Arthur Fontonelli and also being along the north line of a parcel conveyed to Arthur Fontonelli as described in Corporate Warranty Deed 9335926, a distance of 370.00 feet to the northwest corner of said parcel conveyed to Arthur Fontonelli ; thence South 01 *- 30' -47" West, along the west line of said parcel conveyed to Arthur Fontonelli, a distance of 360.00 feet to the Point of Beginning of this description and containing 24.793 Acres, more or less. with said real estate having Parcel Key No. 23 -1013 -0758, 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; and WHEREAS, the Council has received a completed Form SB -1 Statement of Benefits from Lock Joint Tube, Inc,/KeyCorp Capital Leasing/Steel Warehouse Co. Inc. proposing installation of new manufacturing equipment; and WHEREAS, upon review ofthe Petitioner's Form SB -1 Statement ofBenefits, the Council finds that (i) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of the type described in the Statement of Benefits; (ii) the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably be expected to result from the installation of new manufacturing equipment described in the Statement of Benefits; (iii) the estimate of annual salaries of those individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed installation ofnew manufacturing equipment; (iv) other benefits about which information was requested are benefits which can reasonably be expected to result from the proposed installation of new manufacturing equipment; and (v) the totality of benefits to be derived from the proposed installation of new manufacturing equipment is sufficient to justify the deduction sought by the applicant. -2- 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 -12.1 et M. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. SBDS02 PXF 185770 -3- PRESENTED N01 APPROVED ADOPTED \ o - l \' `1 1 Member of the Common Council Red in Clerk's office [SEP M 1999 LORMAJ. DUDA CITY CLERK, BC. BEND, IN.