HomeMy WebLinkAboutDesignating Tax Abatement - Turnmaster Corp. d/b/a South Bend Lathe Corp. 400 W. Sample St. (10 Year Real Property)Attest:
RESOLUTION
NO. 2065 -93
Passed by the Common Council of the City of South Bend, Indiana,
September 13, „ 9
Clerk
Presented by me to the Mayor of the City of South Bend,
September 14, 9 93 .
of Common Council.
City Clerk
Approved and signed by me / ,'�" 19 `_
Mayor
RESOLUTION NO.
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN
AS 400 WEST SAMPLE STREET, SOUTH BEND, INDIANA 46634
AN ECONOMIC REVITALIZATION
AREA FOR PURPOSES OF A TEN YEAR REAL PROPERTY
TAX ABATEMENT FOR
TURNMASTER CORP. d /b /a SOUTH BEND LATHE CORP.
WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for
consideration by the Common Council of the City of South Bend, Indiana requesting that the
area commonly known as 400 West Sample Street, South Bend, Indiana, and which is more
particularly described as follows:
Parcel No. 6 in the Inner Belt Industrial Park, a Subdivision in the Southeast and
Southwest Quarters of Section Eleven (I1) and the Northeast Quarter (1 /a) of
Section Fourteen (14), all in Township Thirty -seven (37) North, Range Two (2)
East of the Second Principal Meridian, City of South Bend, Indiana, the Plat of
which is recorded in the Office of the Recorder of St. Joseph County, Indiana,
in Plat Book 21, page I, EXCEPTING therefrom the West 30 feet of the East 40
feet of vacated Prairie Avenue. Also, EXCEPTING therefrom a part of Parcel
No. 6 Inner Belt Industrial Park described as follows, viz: Beginning at the
Southwest corner of Parcel No. 6 Inner Belt Industrial Park; thence North zero
degrees 10 minutes 32 seconds West 73.55 feet along Easterly line of Chapin
Street; thence Northeasterly to the right on the arc of a curve 60.52 feet with a
radius of 565 feet a d limited to in length by a long chord of 60.49 feet along the
East line of Chapin street; thence North 5 degrees 57 minutes 39 seconds East
52.92 feet along said East line of Chapin Street; thence South 61 degrees 39
minutes 41 seconds East 81.15 feet to the Southeasterly line of said Parcel No.
6; thence Southwesterly 167.68 feet along said Southeasterly line to place of
beginning.
and which has Key Number 18- 8021 - 084906, be designated as an Economic Revitalization Area
under the provisions of Indiana Code 6 -1.1- 12.1 -1 et .Lq. and South Bend Municipal Code
Sections 2 -76 gl =., 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, gt sec ., and
South Bend Municipal Code Sections 2 -76, et M., 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 that the Petition for Real
Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet
the requirements of Indiana Code 6- 1.1- 12.1 -1 et see., and qualifies under the relevant
provisions of South Bend Municipal Code Sections 2 -76 el sN., for tax abatement.
SECTION II. The Common council hereby determines and finds the following:
A. That the description of the proposed redevelopment or rehabilitation meets the
applicable standards for such development.
B. That the estimate of the value of the redevelopment or rehabilitation is reasonable
for projects of this nature;
C. That the estimate of the number of individuals who will be employed or whose
employment will be retained by the Petitioner can reasonably be expected to result from
the proposed described redevelopment or rehabilitation;
D. That the estimate of the annual salaries of those individuals who will be employed
or whose employment will be retained by the Petitioner can be reasonably expected to
result from the proposed redevelopment of rehabilitation;
E. That the other benefits about which information was requested are benefits that
can be reasonably expected to result from the proposed described redevelopment or
rehabilitation; and
F. That the totality of benefits is sufficient to justify the requested deduction, all of
which satisfy the requirements of Indiana Code 6- 1.1- 12.1 -3.
SECTION III. The Common Council hereby determines and finds that the proposed described
redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the
Statement of Benefits set forth as Sections I through II of the Petition for Real Property Tax
Abatement Consideration and that the Statement of Benefits form prescribed by the State Board
of Accounts are sufficient to justify the deduction granted under Indiana Code 6- 1.1- 12.1 -3.
SECTION IV. The Common Council hereby accepts the report and recommendation of the
Human Resources and Economic Development Committee that the area herein described be
designated an Economic Revitalization Area and hereby adopts a Resolution designating this area
as an Economic Revitalization Area for purposes of real property tax abatement.
SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2)
calendar years from the date of the adoption of this Resolution by the Common Council.
SECTION VI. The Common Council hereby determines that the property owner is qualified
for and is granted property tax deduction for a period of ten (10) years.
SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of
this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana
Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the public
hearing before the Common Council on the proposed confirming of said declaration.
SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by
the Common Council and approval by the Mayor.
Member of the Common Council
Uri signed only to provide an
opportunity for publip disracslon
and Council aotion on the Ssaue.
EJS02083
-2-
PRESWM 8 -'� 9 -93
NOT APPROVED
ADOPTED 9- /Y- 91
Filed in c cr' -'<i