HomeMy WebLinkAboutDesignating Tax Abatement - O-T-D Corporation 3722 Foundation Ct. & 4207 Mayflower Rd. (5 Year Personal Property)RESOLUTION
N0. 2324 -95
Passed by the Common Council of the City of South Bend, Indiana,
December 18,19 ,95
Attest: 4 City Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
December 19, 95
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Approved and signed by me k ,�. � 19 9
City Clerk
Mayor
RESOLUTION N0. C"93a q - /S
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
3722 Foundation Court
South Bend, Indiana, 46628
and
4207 Mayflower Road
South Bend, Indiana 46628
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR
O -T -D CORPORATION
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 3722 Foundation Court and 4207 Mayflower Road, South
Bend, Indiana, and which are more particularly described as follows:
5.72 acres, irregular tract South side Foundation Court beginning 318.73 feet East
and 528.34 feet North of South West corner South East quarter being lot 6 -5; Airport
Industrial Park, phase 3, Section 28- 38 -2E. and
Lot 1 Crossroads Industrial Complex Minor Subdivision (Inst. 8114750) being a
part of the Northwest Quarter of Section 20, Township 38 North, Range 2 East,
German Township, City of South Bend, St. Joseph County, Indiana.
and these properties have Key Numbers 25- 1010 - 040018 and 25- 1018 - 061602, be
designated as an Economic Revitalization Area under the provisions of Indiana
Code 6 -1.1- 12.1 -1 et sea., and South Bend Municipal Code Sections 2 -76 et sea.; 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. 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 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:
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(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 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 IX. 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 1Z- /9-q5
NOT APPROVED
ADOPTED
of the Common Council
DEC 12 1995