HomeMy WebLinkAboutDesignating Tax Abatement - Society Leasing f/b/o American Tool & Die Inc. 3515 Boland Dr. (5 Year Personal Property)RESOLUTION
NO. 2063 -93
Passed by the Common Council of the City of South Bend, Indiana
September 13, 19 9;3
Clerk
Attest: fC6��L` President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
Approved and signed by me
September 14, 19 93.
City Clerk
19� .
Mayor
RESOLUTION NO. oZOG 3 -93
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND
DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND
COMMONLY KNOWN AS 3515 BOLAND DRIVE, SOUTH BEND, INDIANA,
AN ECONOMIC REVITALIZATION AREA
FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR
FIVE (5) YEARS FOR
SOCIETY LEASING (f /b /o AMERICAN TOOL & DIE, 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 3515 Boland
Drive, South Bend, Indiana, 46628, and which is more particularly
described by a line drawn as follows:
A part of the Northeast Quarter of Section 28, Township 38
North, Range 2 East, St. Joseph County, Indiana, described as
follows:
Commencing at the southeast corner of said quarter
section; thence South 89 degrees 58 minutes 56 seconds West
1200.00 feet; thence North 0 degrees 00 minutes 23 seconds
East 120 feet to the point of beginning of this description:
thence South 89 degrees 58 minutes 56 seconds West 329.55
feet along the north line of Boland Drive; thence North 89
degrees 58 minutes 56 seconds West 375.00 feet along the West
line of Kenmore Street; thence South 44 degrees 59 minutes 40
seconds West 14.15 feet to the point of beginning, containing
3.000 acres, more or less.
The bearing of the south line of the Southeast Quarter
of Section 28 is assumed North 90 degrees 00 minutes 00
seconds West.
(and which Real Estate has a Key Number of 25- 1010- 038601) 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 §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 §2 -76, at se—c, and has further
prepared maps and plats showing the boundaries and such other
Page 1 of 3 Pages
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 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 benefits identified in the Statement of
Benefits as set forth in Sections 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. That 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 an Economic Revitalization Area for
purposes of personal property tax abatement and hereby makes such
designation.
SECTION IV. The Common Council determines that such
Page 2 of 3 Pages
designation if for personal property tax abatement 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 -1 et sea, 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.
Member of he Common Council
EZ signed only to provide .U,
opportunity for public d1acucs9on
AAd COUM12 notion oo the issue.
Page 3 of 3 Pages
PRESENTED 3- 76 3
NOT APPROVED
ADOPTED 9 1Y- fS
Filed in Clerk's Office
AUG 6
I
CITY CLERK SO. BEND K