HomeMy WebLinkAboutDesignating Tax Abatement - Raelyn Engineering, Inc. 4550 S. Burnett Dr. (5 Year Personal Property)Attest:
RESOLUTION
NO. 2252 -95
Passed by the Common Council of the City of South Bend, Indiana
Attest:
June 12,
9 95
Presented by me to the Mayor of the City of South Bend, Indiana
June 13, 95
19
Clerk
of Common Council.
City Clerk
Approved and signed by me %n.Q aUa1Qi//(A.A'l � 19 _.
Mayor
RESOLUTION N0.G ) 5
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
4550 S. Burnett Drive
South Bend, Indiana 46614
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR
elyn 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 4550 S. Burnett Dr., South Bend, Indiana,
and which is more particularly described as follows:
Lot Numbered Nine (9) as shown on the recorded Plat of Burnett
Industrial Park, Centre Township, recorded November 14, 1974 in
the Office of the Recorder of St. Joseph County, Indiana, in
Plat Book 278, page B.
and this property has Key Number 23- 1043 -3012
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 Section
2 -76 et sec.; 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 sec., and South
Bend Municipal Code Sections 2 -76 it:—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;
TAX ABATEMENT DECLARATION
PAGE 2
(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 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
qualified for and is granted property
(5) years.
determines that the property owner is
tax deduction for a period of five
SECTION VI. The Common Council directs the City Clerk to cause notice of
the adoption of the 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.
PRESENTED 6-i� -915
NOT APPR OVED
ADOPTED G -/2,95
Me of Common Council
E nyCierk -s office
�I U iENEGAMMCN LEflK, SC. BEND, i N.