HomeMy WebLinkAboutDesignating Tax Abatement - Spin-Cast Plastics, Inc. 3300 N. Kenmore St. (5 Year Personal Property)RESOLUTION
NO. 1971 -92
Passed by the Common Council of the City of South Bend, Indiana,
Attest:_
September 14,
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19 92
Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend,
September 15, 92
19
It'
Approved and signed by me _ September 16
19 92
Clerk
Mayor
RESOLUTION NO. I1 7/ 7 0a
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
3300 N. KENMORE STREET,
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR
SPIN -CAST PLASTICS, INC.
WHEREAS, a petition for personal property tax abatement
consideration has been filed with the Common Council of the City of
South Bend, Indiana, requesting that the area commonly known as
3300 N. Kenmore Street, South Bend, Indiana, and which is more
particularly described as follows:
Lots 5 -3 and 5 -4 of Combined Airport Industrial Park,
Phase Four, St. Joseph County, Indiana,
and this property has Key Number 25- 1010 - 038518, 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 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
seq., 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 -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;
(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.
1
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.
PRESENTED q—1 q —9
NOT APPWVEO. p
ADOPTED
Member of the Common Council
ErI aiC;ir,d only to prceiae an
opportunity for public discussion
and Council action on the issue,
Filed in Clerk's Office
AUG 6