HomeMy WebLinkAboutDesignating Tax Abatement - Keener Printing & Lithography Inc. 411 W. Indiana Ave. (5 Year Personal Property)RESOLUTION
NO. 2281 -95
Passed by the Common Council of the City of South Bend, Indiana
September 25,19 95
Citv Clerk
Presented by me to the Mayor of the City of South Bend,I
of Common Council.
September 26, 95
19
City Clerk
Approved and signed by me 91d2 19 ?�5
G , Yom_ Mayor
RESOLUTION NO.
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
411 W. INDIANA AVE.
SOUTH BEND IND.
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF PERSONAL PROPERTY TAX ABA'T'EMENT FOR
KEENER PRINTING & LITHOGRAPHY, 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
411 W. Indiana Ave., South Bend, Indiana, and which is more
particularly described as follows:
Lots 2 -4 -5 & Vac. Alley
Stull's 4
Personal Property Key Number 18351561744
be designated as an Economic Revitalization Area under the
provisions of Indiana Code 6- 1.1- 12.1 -1 et seq., and South
Bend Municipal Co e ec ions 2 -76 et 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 seq., and South Bend Municipal Code
Sections 2 -76 et seq., and has further prepared maps and plats
showing the bou- caries 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 I'T' 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.
-1-
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 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 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
no ice o the adoption of this Declaratory Resolution to be
published pursuant to Indiana Code 5 -3 -1, and said publication
providing notice of the public hearing before the Common
Council on said declaration.
SECTION VII. This Resolution shall be in force and effect
anT a er its adoption by the Common Council and approval
by the Mayor.
PRESENTED 9- 2S - 9S
NOT APPROVED
ADOPTED q. 2�- 5�
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