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HomeMy WebLinkAboutDesignating Tax Abatement - Manufacturing Technology Inc. 1702 W. Washington St. (3 Year Real Property)Attest RESOLUTION NO. 2413 -96 Passed by the Common Council of the City of South Bend, Indiana October 14, 19 96 Attest: Presented by me to the Mayor of the City of South Bend, Indiana October 15, 19 96 Clerk of Common Council. City Clerk Approved and signed by me 66z� le— 19 9(,_. 9 Mayor RESOLUTION NO. G yj - 76 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1702 WEST WASHINGTON STREET SOUTH BEND, INDIANA AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR MANUFACTURING TECHNOLOGY, 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 1702 West Washington Street, South Bend, Indiana, and which is more particularly described as follows: PARCEL 1: A lot or parcel of Land in the City of South Bend, located in the East Half of the Northeast Quarter of Section Number Ten (10), Township Number Thirty -seven (37) North, Range Number Two (2) East, bounded by a line running as follows, viz: Beginning at a point in the South Line of West Washington Avenue 7.58 feet West from a point where the West line of College Street extended South would intersect the South line of said West Washington Avenue thence South 208 feet; thence West 395.87 feet; thence North 208 feet to the South Line of Washington Avenue, thence East along the South line of Washington Avenue a distance of 395.87 feet to the place of beginning. PARCEL 11: Also, beginning at a point in the South line of West Washington Avenue 7:58 feet West from a point where the West line of College Street extended South would intersect the South line of Washington Avenue and being at the Northeast corner of the above described tract; thence South along the East line of the above described tract 293.6 feet to an iron stake; thence East 19.69 feet, more or less, to the Southwest corner of a tract of land conveyed to the South Bend Wholesale Drug Company by deed recorded in Deed Record 333 page 336; thence North 293.6 feet, more or less, to a point in the South line of West Washington Avenue 20 fee East of the place of beginning; thence West 20 feet to the place of beginning, subject, however, to a perpetual easement of right of way in common with the Grantees at all times and for all purposes over the following real estate for the use and, benefit of the South Bend Drug Co., Inc.: A part of the East Half (1/2) of the Northeast Quarter (1/4) of Section Ten (10), Township Thirty -seven (37) North, Range Two (2) East, described as follows: Beginning at a point on the South line of Washington Avenue which is 389.87 feet West of a point which is 7.58 feet West from the West line of College Street extended South to the South line of Washington Avenue; thence due South 133.5 feet; thence Easaterly 321.3 feet to a point 130.3 feet due South from the South line of Washington Avenue; thence in a Southeasterly direction 102 feet to an iron stake, which iron state is 208 feet due South from Washington Avenue; thence North 46.2 feet; thence in a Northwesterly direction 80.3 feet to a point 100.3 feet due South from the South line of Washington Avenue; thence Westerly 305.6 feet to a point due South 103.5 feet from the South line of Washington Avenue, thence North 103.5 feet to a point on the South line of Washington Avenue which is 30 feet East of the place of beginning, thence West 30 feet to the place of beginning. and this property has Key Numbers 18- 020020002 and 18- 020010005, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et sec ., and South Bend Municipal Code Sections 2 -76 gt seq.; 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 6 -1.1- 12.1 -1, et sea., el and South Bend Municipal Code Sections 2 -76 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 Human Resources 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 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 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 WIEiN'beclaratory 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. PRESENTED (DTI- /6 NOT APPROVED ADOPTED l0- ly -96 _z w Member o the Common Council Filed In Clerk's Office SEP 1 8 1996 LORETTA J. DUDA CITY CLERK, BO. BEND, IN.