HomeMy WebLinkAboutDesignating Tax Abatement - Mack Tool & Engineering, Inc. 2820 Virdian Dr. (5 Year Personal Property)Attest:
RESOLUTION
NO. 2234 -95
Passed by the Common Council of the City of South Bend, Indiana
Attest:
May 8, 19 95 .
Presented by me to the Mayor of the City of South Bend. Indiana
May
Approved and signed by me
9, 95
Q
Clerk
of Common Council.
City Clerk
w 1995 .
Mayor
RESOLUTION NO. 'N,95
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
2820 VIRIDIAN DRIVE
SOUTH BEND, INDIANA 46628
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR
MACK TOOL & ENGINEERING, 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 2820 Viridian Drive, South Bend, Indiana 46628, and which is
particularly described as follows:
LEGAL DESCRIPTION: AIRPORT INDUSTRIAL PARK - LOT 5 -3A1
A PART of the Southeast Quarter of Section 28, township 38 North, Range 2 East,
of the Second Principal Meridian, City of South Bend, St. Joseph County, Indiana
and described as follows:
COMMENCING at the Northeast corner of the Southeast Quarter of said Section 28,
said point being at the intersection of Bendix and Boland Drives; thence South
89 degrees 58'56" West (bearing assume) along the Southerly right -of -way line of
Boland Drive 1242.51 feet to the Point of Beginning; thence South 00 degrees 21'33"
West, 293.00 feet, thence South 89 degrees 58'56" West, 260.00 feet; thence North
00 degrees 21'33" East, 293.00 feet; thence North 89 degrees 58'56" East, 260.00
feet to the Point of Beginning and containing 1.75 acres, more or less, and is subject
to all easements, restrictions and or covenants of record.
and this property has Key Number 25 -1010- 040029, be designated as an Economic
Revitalization Area under the provisions of Indiana Code 6- 1.1- 12.1 -1 et ea., 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 se q.. 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 benfits
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 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 S-- 9 - 915
NOT APPROVED
ADOPTED,,] -( - qS
'9WI "ihe (fornmon Council
.0I { J v it 4`hrs�
EA R 1 0 1995
N E h E 0 A'rv9l