HomeMy WebLinkAboutDesignating Tax Abatement - Exacto Inc. of South Bend 1137 S. Lafayette Blvd (5 Year Personal Property)RESOLUTION
NO. 2754 -99
Passed by the Common Council of the City of South Bend, Indiana,
June 28, 19 99
Attest: sx"6'V'-'�YVV O'r'L. -- Pres
Presented by me to the Mayor of the City of South Bend, Indiana
June 29, ,9 99
Clerk
of Common Council.
Approved and signed by mo June 79, _ 19 99
City Clerk
Mayor
RESOLUTION NO. I- S � f c\
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
1137 S. LAFAYETTE BLVD.
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
EXACTO, INC OF SOUTH BEND
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 1137 S. Lafayette Blvd., South Bend,
Indiana, and which is more particularly described as follows:
BEGINNING AT THE SW CORNER OF LOT 7, STULL'S EDITION; THENCE, N
ALONG THE E RIGHT -OF -WAY OF AN ALLEY A DISTANCE OF 336.06 FEET
+ OR - TO A POINT; SAID POINT BEING THE NW CORNOR OF THE S '/z OF
LOT 64, SOUTH BEND CITY EDITION; THENCE, E ALONG THE NORTHERN
BOUNDARY OF SAID '/z OF LOT 64 WHICH IS ON THE WESTERN RIGHT -OF-
WAY OF LAFAYETTE BLVD.; THENCE, S A DISTANCE OF 275 FEET + OR -
TO THE SE CORNOR OF LOT 6, STULL'S SECOND EDITION; THENCE, W A
DISTANCE OF 125 FEET TO A POINT; THENCE, S 66 FEET TO A POINT;
THENCE, W 40 FEET TO A POINT OF BEGINNING. ALL BEING WITHIN THE
CITY OF SOUTH BEND, COUNTY OF ST. JOSEPH, STATE OF INDIANA.
and which has Key Number 18 8006 0288, 18 8002 0115, 18 8006 0282, 18 8006
028201, 18 8006 0285, 18 8006 028501, 18 8002 0116, as an Economic Revitalization
Area; and 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 sec ., 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.
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 sea., 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 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 - 0.4\m
NOT APPROVED Q
AD^PTED � -1� \
Member of the Common Council
Filed in Clerk's Office
K
LU5ETTAJ. DUDA
CITY CLERK, 9®. BEN-6p, IN,