HomeMy WebLinkAboutDesignating Tax Abatement - Concrete & Asphalt Recycling, Inc. 2950 W. Lathrop St. (5 Year Personal Property)RESOLUTION
NO. 1928 -92
Passed by the Common Council of the City of South Bend, Indiana
April 13, 92 19
At test: __.,!Y« =— �_____ City Clerk
Attest:
Presented by me to the Mayor of the City of South Bend, Indiana
April 14,
Approved and signed by me
92
9
April 14
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of Common Council.
9 92
City Clerk
Mayor
RESOLUTION NO.
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
2950 West Lathrop Street
South Bend, Indiana 46628
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR
CONCRETE & ASPHALT RECYCLING, 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 2950
West Lathrop Street, South Bend, Indiana, and which is more
particularly described as follows:
Five (5) acres more or less, located in the
northwest quarter of the northwest quarter of
Section 34, Township 38 North, Range 2 East,
which is approximately 100 acres, in St. Joseph
County, State of Indiana, commonly known as
2950 Lathrop, South Bend, Indiana,
and this property has Key Number 18- 2109 -4960, be designated as
an Economic Revitalization Area under the provisions of Indiana
Code 6 -1.1- 12.1 -1, et sue., 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 se q., and South Bend Municipal Code Section
2 -76, et se q., 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 Recourses 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 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 manu-
facturing 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 pro-
perty owner is qualified for 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.
PRE8ENuo
NOT APPROVED
ADOPTED
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'Y -/3 - l.Q
Member of the Common Council
I signed Cn! 7 to r_,C is
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Filed in Clerk's Office
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