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HomeMy WebLinkAboutDesignating Tax Abatement - Wells Electronics Inc. 1701, 1801, 1818 & 1819 S. Main St. (5 Year Personal Property)Attest: RESOLUTION NO. 2179 -94 Passed by the Common Council of the City of South Bend, Attest October 10, 1994; Clerk Presented by me to the Mayor of the City of South Bend,I Approved and signed by me October 11, 94 19 e. of Common Council. City Clerk /0 - ly' 19 ?V. Mayor RESOLUTION NO., 612/ -/ A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1701, 1801, 1818, AND 1819 S. MAIN STREET SOUTH BEND, IN 46613 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR WELLS ELECTRONICS, 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 1701, 1801, 1818, & 1819 S. Main Street, South Bend, Indiana, and which is more particularly described as follows: KEY NUMBER DESCRIPTION 18 8007 0370 LOT 7 & E 1/2 VAC ALLEY & S 1/2 VAC ALLEY ADJ J P CREEDS 2ND 18 8007 0371 LOTS 8- 9 -10 -11 & 1/2 VAC ALLEY CREEDS 234.65 FT OF TAX LOTS S 1577 FT NW ON NORTH LINE LOT 2 PEARLEY LUMBER CO ADD 18 8010 0446 LOT 14 & S 7' VAC ALLEY N & AD STOVER & WITWER ADD 18 8010 0443 LOT 15 & 1/2 VAC ALLEY E & A 1/2 VAC ALLEY N & ADJ STOVER & WITWER ADD 18 8009 043102 SO 26.97' LOT 9 ALL LOT 10 & 7' VAC ALY S & ADJ PERLEY LUMBER CO 18 8008 037901 PARCEL OF GROUND IN SW 1/4 SEC 13 37 2E BEG ON SO LINE OF INDIANA AV & PENN CENTRAL RR RIGHTAWAY CONT 41,184' 18 8008 0382 SO FT ON W SIDE MAIN ST N & ADJ DAYTON ST 13 37 2E 18 8009 0422 LOTS 11 TO 18 INC & 1/2 VAC ALLEY S & ADJ TO LOT PERLEY LUMBER CO 18 8009 0413 LOT 19 LOT 20 & 1/2 VAC ALLEY PERLEY LBR CO ADD and this property has Key Number Listed above, 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 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 sue., and South Bend Municipal Code Sections 2 -76 et 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 the type; (b) the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can be reasonable 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. �, 2�L� ember of ommon Council •PRESENTED I0-I0-9y NOT,,APPROVED ADCHED, Filed in C ierk's Office SEP 2 G 1994 MIEW GAMMON CR'; CLERK, SO. SEND, IN.