HomeMy WebLinkAboutDesignating Tax Abatement - Mack Tool & Engineering, Inc. 2820 Viridian Dr. (5 Year Personal Property)Attest
RESOLUTION
NO. 1990 -92
Passed by the Common Council of the City of South Bend, Indiana.
November 23, ,0 92
`° , "^^"°'--J City Clerk
of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
November 24, 92
I9
Approved and signed by me _ (� _ 19_1
Clerk
Mayor
RESOLUTION NO. /?, &- M
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 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 Dr. South Bend,
Indiana,,and which is more particularly described as follows:
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 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 seq., and South Bend Municipal Code Sections 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 et sec., 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 expected to
result from the proposed installation of new manufacturing equipment;
(c) the estimate of the annual salaries of those individuals who will
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 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 //- 3- y 2
NOT APPROVED
ADOPTED //_ a 3- .9a
FAIR IM
Filed in Clerk's Office
il!OV - 9