HomeMy WebLinkAbout6.A.(3) Resolution No. 2531f~ ~ ~~ l
RESOLUTION NO. ?531
A RESOLUTION APPROVING AN APPLICATION FOR
PERSONAL PROPERTY TAa DEDUCTION
WHEREAS. LC. 6- I.1- I ?. l -?(1) prop-ides that an application fr~r property tax deduction may
not be approved ~~~hen the property is located in an allocation area as detined in LC 36-7-14-39,
unless the Redc~~clopmcnt Commission ~~~hich designated that allocation area adopts a resolution
approving that application; and
WHEREAS, the South Bend Common Council has received a petition for (5) five years of
personal property tax abatement consideration ti-om Fortis Plastics, LLC for personal property
located at 36i 5 Voordc Dri~~c in the Airport Economic Development Area, the legal description of
which is attached hereto. marked Exhibit "A" and incorporated herein: and
WHEREAS. this Commission declared the Airport Economic De~;clopment Area by
Resolution No. 919, adopted February ?3. 1990. and in the same resolution declared the Airport
Economic Dcvclopmuit Allocation Arca, Allocation Area No. 1: and
WHEREAS, the property located at 3615 Drive is located ~~~ithin the Airport Economic
Development Allocation Area. Allocation Area No. 1.
'SOW. "l~F[EREFORE. BE IT KESOLVED by the South Bend Redevelopment Commission
as follows:
1) The Commission finds that the application ti~om Fortis Plastics. LLC for (5) live years ofi
personal property tax abatement consideration for property located at 3615 Voorde Drive in the
Airport Economic Development Allocation Arca. Allocation Arca No. 1, should be and is hereby
appro~~cd.
?) That a copy of this resolution be forwarded to the South Bend Conun<~n Council to
indicate the Commission's approval of the petitio^ fior personal property tax abatement ft>r Fortis
Plastics, LLC.
Appro~~ed this 19th day of December. ?008. at the regularly scheduled meeting of the South
Bend Rcde~elopment Commission.
SOUTH BEND REDEVELOPMENT COMMISSION
A~C"TEST:
1?00 Cu~~~i ~-Crrr Rau niv~r.
»~ W. ~rrr PRSrn Rex ii-~vzi
S~n~rti Rr.~n, l~sn ~xn +G6U1-1810
I'ii~~xr ~?4/ 3i42i'I
P.~~ S~q/ 315-90_' I
~I~I)U 5?4J 2;5-556?
Cri~~ ~,f SUCIN L3r_m~ SrerFir-h (. Ltr~aa~, M-~~~~>r
COMMUNI"I'Y ~ ECONOMIC DEVELOPMENT
Jerritev V. Gnsvi,k
Pso~'~ ri~r Ui~urrr~k
TAX ABATEMENT REPOR T
f0: SOUI'I1 BEND REDEVELOPMENT COMMISSION
PROM: BOB MATHIA I~~' ~ I'"
SUBJEC"I': PERSONAL PROPERTY TAX ABATEMENT PETITION I~OR:
FORTIS PLASTICS, LLC
DATE: December 16. 2008
On llcccmbcr 16, 2008, a petition for personal property tax abatement consideration for property located
at 3615 Voorde Drive was filed with the City Clerk by Fortis Plastics, LLC. Pursuant to Chapter 2,
Article 6, Section 2-84.2 of the Municipal Codc of the City of South Bcnd, this petition was referred to the
Department of Community and Economic Development for purposes of investigation and preparation of
a report determining whether the area qualities as an Economic Revitalization Area pursuant to
LC.6-1.1-12.1 and whether all zoning requirements have been met.
The Department of Community and Economic Development has reviewed the petition, investigated the
area, and makes the following report.
PROJECT SUMMARY
Fortis Plastics is an extruder of plastic components used in a variety of industrial and consumer
applications. 171e company is weighing the consolidation of its existing Elkhart operations to South Bend
or Henderson, Kentucky. The South Bend facility would require building rehabilitation and a real
property tax abatement application is being submitted as part of the total project. 'The equipment to be
purchased includes new and used plastic injection mold machines and extruders, computers, ff
infrash~ucture and servers. The used equipment would be acquired from outside the State of Indiana. The
project's site is a vacant industrial building located at 3615 Voorde Drive that has been unoccupied for
over one year.
C~i~un°hrn~Divrii~i~,ena^ C<~~~n~o,w~ lli~~riormie~r PiNnna:v.&Pao~ao~,~~
Ih„p. ,~ C-. Aii ~, ~.,u I ~~w'_,~ h. IVI:. MANAGIY71~ i'
-'~R,4~-'JGfiO q-.u_;~Oi,I Iii, _'.I i~~ui
South Bend Redevelopment Commission
RE: Tax Abatement for fortis Plastics, LLC
December 16, 2008
Page 2
The equipment to be installed on the site has a total estimated cost of $2,218,900
Total taxes to be abated during the (5) five-year abatement period are estimated at $86,698. "Cotal taxes to
be paid during the (5) Live-year abatement period are estimated at $70,013.
EMPLOYMENT IMPAC"I'
Per the petition, it is estimated that the total project will retain 146 employees with an annual payroll of
$5,545,904.
ABATEMENT QUALIFICATION
A review of the tax abatements previously granted lords that the petitioner has not been granted or
associated with any previous tax abatements.
2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned
for the proposed project.
3. A review of the South Bcnd Redevelopment designation areas finds that the property is located in
the Airport Economic Development Area, which is a Tax Incremental Allocation Area; therefore,
the petition for personal property tax deduction must first be approved by the South Bcnd
Redevelopment Commission.
4. A review of the Tax Abatement Ordinance No. 9394-03 Ends that the petitioner meets the
qualifications fora (5) five-year personal property tax abatement under section ?-84.2, 1~angible
Personal Property `I~ax Abatement.
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