HomeMy WebLinkAboutDesignating Tax Abatement - Lock Joint Tube, Inc./Keycorp Capital Leasing/Steel Warehouse Co. Inc. 515 W. Ireland Rd. (5 Year Personal Property)Attest
RESOLUTION
NO. 2790 -99
Passed by the Common Council of the City of South Bend, Indiana
September 27, 19 99
Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
September 27, —19--39
Approved and signed by me September 99, _ 19 99
City Clerk
Mayor
RESOLUTION NO. Z 1 � Q - � I
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
515 WEST IRELAND ROAD
SOUTH BEND, INDIANA
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR
LOCK JOINT TUBE, INC./KEYCORP CAPITAL LEASING/
STEEL WAREHOUSE CO. INC.
WHEREAS, a petition for personal property tax abatement consideration has been filed with the
Common Council of the City of South Bend, requesting that 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 corner 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 Ol °- 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 corner 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 00 °- 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 00 °- 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
89 °- 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
Ol °- 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 Ol °- 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.
and this property has Key Number 23- 1013 -0758, be designated as an Economic Revitalization Area
under the provisions of Indiana Code Section 6- 1.1- 12.1 -1 et SeMc ., and South Bend Municipal Code
Sections 2 -76 et seq.; and
WHEREAS, the Common 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
the new manufacturing equipment; and
WHEREAS, the Department of 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 Section 6- 1.1- 12.1 -1, et M., and South Bend
Municipal Code Sections 2 -76 et ss ., 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 Human Resources and Economic Development Committee ofthe 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. Upon review of the aforementioned Form SB -1 Statement of Benefits, the Common
Council hereby determines and finds pursuant to Indiana Code Section 6- 1.1- 12.1 -4.5, that:
(a) the estimate of the cost of the new manufacturing equipment is reasonable for
equipment of that type;
(b) the estimate of the number of individuals who 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;
-2-
(c) the estimate of the annual salaries of those individuals who will be employed or
whose employment will be retained 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 installation of new manufacturing
equipment; and
(e) the totality of benefits to be derived from the proposed installation of new
manufacturing equipment 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 Section 1 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 Section 6 -1.1- 12.1 -4.5.
SECTION III. The Common Council hereby accepts the report and recommendation of the
Department of Economic Development, and the Human Resources and Economic Development
Committee's favorable recommendation, that the area herein described be designated as 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 to be published pursuant to Indiana Code 5 -3 -1, said publication providing
notice of the public hearing before the Common Council on 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.
G--0�
Member of the Common Council
SBDS02 PXF 185769 Filed 1n Clerk's Office
SEP 2-0 1999
PRESENTED q -2:1-qq -3- LOR@TTAI CODA
CITY CLTiAK, 8C. BillCi, itd.
NOT APPROVED
ADOPTED