HomeMy WebLinkAboutDesignating Tax Abatement - Aquarius Tool & Mold Inc. 1920 N. Kenmore St. (5 Year Personal Property)RESOLUTION
NO. 1905 -91
Passed by the Common Council of the City of South Bend, Indiana,
Attest:
December 9, 91
19
/-
Presented by me to the Mayor of the City of South Bend,
December 10, 91
19
k�
Clerk
of Common Council.
Approved and signed by me December 10 1991
City Clerk
Mayor
RESOLUTION N0. Zy ,j J/
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
1920 N. KENMORE STREET
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR
AQUARIUS TOOL & MOLD, 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 1920. N. Kenmore, South Bend, Indiana, and which
is more particularly described as follows:
A part of the Northeast Quarter of Section 33, Township 38 North, Range
2 East, City of South Bend, St. Joseph County, Indiana described as follows:
Commencing at the southeast corner of said quarter section;thence South 0
degrees 07 minutes 29 seconds West 815.52 feet along the east line of said
section to the north boundary, extended, of Voorde Drive; thence North 89
degrees 40 minutes 09 seconds West 1,288.56 feet along said extended boundary
and the north boundary of said Voorde Drive to the east boundary of Kenmore
Street (formerly Progress Drive); thence North 0 degrees 18 minutes 51 seconds
East 1,260.40 feet along said east boundary, and said east boundary extended,
to the point of beginning of this description; thence North 0 degrees 18
minutes 51 seconds East 220.00 feet; thence North 89 degrees 56 minutes 16
seconds East 215.00 feet; thence South 0 degrees 18 minutes 51 seconds West
220.00 feet; thence South 89 degrees 56 minutes 16 seconds West 215.00 feet
to the point of beginning and containing 1.086 acres, more or less.
Also, above described lot is subject to a 20 -foot utility easement, the
centerline of which is parallel to, and 146.41 feet south of the northern
boundary of said lot. Also, said lot is subject to 30 -foot building setback
lines adjacent to all above described courses, except the course along the
western boundary which is subject to a 60 -foot building setback line.
and this property has Key Number 25 1006 030003
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- 12.1 -4.5, that:
(a) the estimate of the cost of the new manufacturing equipment is
reasonable for equipment of that type;
1
(b) the estin.lte 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.
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 I
through 3 of the Petition for Personal Property Tax Abatement Consideration
ant 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) calender
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.
Member of the Common Council
VJ
PRESENTED
NOT APPROVED
ADOPTED Ia - 9 -I
Filed in Clerk's Office
0 2 5.1991