HomeMy WebLinkAboutDesignating Tax Abatement - Expanded Metal Co of Indiana LLC 1313 S. Walnut St. (5 Year Personal Property)RESOLUTION
NO. 2556 -98
Passed by the Common Council of the City of South Bend,
February 9, 19 98
Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
February 10, 9 98
City Clerk
Approved and signed by me Fab. llar_1G, __ 19_ 981
Mayor
RESOLUTION NO. Z -5 - I D
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
1313 S. WALNUT STREET
SOUTH BEND, INDIANA
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
EXPANDED METAL COMPANY OF INDIANA LLC
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 1313
S. Walnut Street, South Bend, Indiana, and which is more particularly described as follows:
A tract of land in the City of South Bend, St. Joseph County, Indiana, situated in the
Northwest Quarter of Section 14, and the Northeast Quarter of Section 15, Township 37
North, Range 2 East bounded by the following described line: Beginning at a point in the
West line of Walnut Street, 1719.61 feet South of the South line of Sample Street, which
point is 1067.86 feet South of the South line of the Sanders and Egbert Tract, as conveyed
by deeds recorded in Deed Record 118, page 428 and Deed Record 121, page 320; thence
an assumed bearing of South 0 °00'49" East along said West line of Walnut Street, 107.50
feet; thence South 89 °55'03" West, 269.27 feet; thence North 83 °57'02" West, 75 feet to
the Southeast corner of an existing brick building; thence South 89 °55'14" West along the
South line of said existing building, 202.11 feet to the Southwest corner of said building;
thence South 83 °46'43" West, 75 feet; thence South 89 055103" West, 579.48 feet; thence
North 0 °00'49" West parallel with said West line of Walnut Street, 83.16 feet; thence
North 89 °23'32" East, 437.13 feet; thence North 61 °54'12" East, 42.91 feet; thence North
89'54'12" East, 725.03 feet to the place of beginning,
and which has Key Number 18 -8021- 084502, be designated as an Economic Revitalization Area
under the provisions of Indiana Code 6- 1.1- 12.1 -1 glq.> and South Bend Municipal Code
Sections 2 -76 gl cgq.; 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 -1, gl 5-gq., and South Bend Municipal Code Sections 2 -76 gt 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, 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 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;
(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 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 is sufficient to justify the deduction requested.
SECTION II. The Common Council hereby determines and finds that the proposed new
manufacturing equipment can a reasonably expected to yield the benefits identified in the
Statement of Benefits as set forth in Section 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 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.
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PRESENTED J _q _9 b
NOT APPROVED
ADOPTED c2--/( - 9 S
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