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HomeMy WebLinkAboutDesignating Tax Abatement - Stouffer Industries, Inc. 1801 Commerce Dr. (5 Year Personal Property)RESOLUTION NO. 1937 -92 Passed by the Common Council of the City of South Bend, April 28, 92 i� Attest:_ `tP" - 11A- �� Clerk Attest: Presented by me to the Mayor of the City of South Bend, I April 29, 92 19 Approved and signed by me /S April 30 of Common Council. 19 92 . Clerk Mayor RESOLUTION NO. (V 37 -Q A A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1801 COMMERCE DRIVE, SOUTH BEND, INDIANA, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR STOUFFER INDUSTRIES, 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 1801 Commerce Drive, South Bend, Indiana, 46628, and which is more particularly described by a line drawn as follows: PARCEL I: A tract of land in the Southwest Quarter of Section Thirty - three (33), Township Thirty -eight (38) North, Range Two (2) East, City of South Bend, St. Joseph County, Indiana, more particularly described as follows: Commencing at a brass plug at the center of said Section 33; thence South 90 000100" West on and along the North line of said Southwest Quarter of said Section 33, a distance of 1,205.66 feet to a concrete monument on the West line of a 75 foot public street; thence South 00 129121" East on and along the West line of said 75 foot public street, a distance of 473.176 feet to an iron at the point of beginning; thence continuing South 00 029121" East on and along said West line of said 75 foot public street, a distance of 237.00 feet to an iron; thence South 89 030139" West, a distance of 362.00 feet to an iron; thence North 00 029'21" West, a distance of 237.0 feet; thence North 89 030139" East, a distance of 362.00 feet to the place of beginning; said tract being Lot Numbered Twenty -five (25) of the Airport Industrial Park, Phase II. PARCEL II: A tract of land in the Southwest Quarter (1/4) of Section Thirty -three (33), Township Thirty -eight (38) North, Range Two (2) East, City of South Bend, St. Joseph County, Indiana; more particularly described as follows: With a point of beginning arrived at by commencing at a brass plug at the center of said Section 33; thence South 90 000100" West on and along the North line of said Southwest Quarter (1/4) of said Section 33 a distance of 1,205.66 feet to a concrete monument on the West line of a 75 foot Public Street (Commerce Drive); thence South 00 029121" East on and along the West line of said Commerce Drive, a distance of 473.176 feet to an iron at Page 1 of 3 Pages the point of beginning; thence continuing South 89 °30'39" West a distance of 362 feet; thence North 00 029'21" West a distance of 120.5 feet; thence North 89 °30'39" East a distance of 362 feet; thence South 00 029121" East along the West line of Commerce Drive a distance of 120.5 feet to the place of beginning, being the South 120.5 feet measured North and South taken off at the entire South end of Lot Numbered Twenty -four (24) of the Airport Industrial Park, Phase II, St. Joseph County, Indiana now a part of the City of South Bend. and this Real Estate has Key Numbers of 18- 2183 - 688603, 18 -2183- 688612, 25- 1008 - 033502, and 25- 1008 - 133508, 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 §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 §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- 12.1 -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 Page 2 of 3 Pages 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 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 seq, 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. Me� of e Common Council ffI signed only to provide an opportunity for public disc.; ^ion -and Council action on the issue. Page 3 of 3 Pages RESENTED 5/ -�2 $ -% a NOT APPROVW Filed in Clerk's Office MAR 2 0 3?