HomeMy WebLinkAboutDesignating Tax Abatement - Boliden Metech, Inc. 445 N. Sheridan Ave. (5 Year Personal Property)Attest:
RESOLUTION
NO. 1821 -90
Passed by the Common Council of the City of South Bend, Indiana,
October 22, 90
19
"k� City Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
October
Approved and signed by me
23, 90
I9
October 26
19 90
City Clerk
Mayor
RESOLUTION NO. I a '- w
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND, INDIANA DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
445 NORTH SHERIDAN AVENUE, SOUTH BEND, INDIANA
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES
OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT
FOR BOLIDEN METECH, INC.
WHEREAS, a petition for personal property tag abatement has
been filed with the City Clerk for consideration by the Common
Council of the City of South Bend, requesting that the area
commonly known as 445 North Sheridan Avenue, South Bend,
Indiana, and which is more particularly described as follows:
A tract of land in the Southwest 1/4 of Section 4,
Township 37 North, Range 2 East located in Portage
Township, City of South Bend, St. Joseph County,
Indiana, described as follows:
Beginning at a point on the West line of Sheridan
Avenue (80 foot right -of -way) 420.19 feet North
(assumed bearing) of the North line of Linden Avenue
(80 foot right -of -way) which point is also 207 feet
West and 460.19 feet North of the Southeast corner of
said Southwest 1/4 of Section 4; thence Northerly
along said West line of Sheridan Avenue 673.22 feet to
the Southerly right -of -way line of the Consolidated
Rail Corporation (formerly the New York Central
Railroad); thence North 79 018'30" West along said
Southerly right -of -way line of the Consolidated Rail
Corporation 429.83 feet; thence South 00 008'15" West
749.04 feet to a point 418.30 feet North 00 °03'15"
East of the North line of Linden Avenue; thence East
perpendicular to the West line of Sheridan Avenue
370.56 feet to the point of beginning, containing
6.268 acres, more or less.
be designated as an Economic Revitalization Area under the
provisions of Indiana Code 6 -1.1- 12.1 -1 et sea.; and South Bend
Municipal Code section 2 -76 et sea., 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 sea., and South Bend Municipal
Code section 2 -76, et sea., 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
that the Petition for Personal Property Tag Abatement and
Statement of Benefits form completed by the Petitioner meet the
requirements of I.C. 6 -1.1- 12.1 -1 et sea., and qualifies under
the provisions of South Bend Municipal Code Section 2 -76, et
sea., for tag abatement.
SECTION II. The Common Council hereby determines and finds
the following:
A. That the estimate of the value of the
redevelopment or rehabilitation is reasonable for
projects of this nature;
B. That the estimate of the number of individuals who
will be employed or whose employment will be retained
can reasonably be expected to result from the proposed
described redevelopment or rehabilitation;
C. That 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 redevelopment or rehabilitation;
D. That the other benefits about which information
was requested are benefits that can be reasonably
expected to result from the proposed described
redevelopment or rehabilitation; and;
E. That the totality of benefits is sufficient to
justify the deduction; all of which satisfy the
requirements of I.C. 6 -1.1- 12.1 -3 and which can be
reasonably expected to result from the installation of
the new manufacturing equipment.
SECTION III. 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 I through II of
the Petition for Personal Property Tax Abatement consideration
and that the Statement of Benefits form prescribed by the State
Board of Accounts are sufficient to justify the deduction
granted under Section 6 -1.1- 12.1 -4.5 of the Indiana Code.
SECTION IV. The C(
and recommendation of
Development Committee
designated an Economic
personal property tax
designation.
)mmon Council hereby accepts the report
the Human Resources and Economic
that the area herein described be
Revitalization Area for purposes of
abatement and hereby makes such a
SECTION V. 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 VI. 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 VII. The Common Council directs the City Clerk to
cause notice of the adoption of this Declaratory Resolution for
Personal Property Tax Abatement to be published, said
publication providing notice of the public hearing before the
Common Council on the proposed confirming of said declaration.
SECTION VIII. This Resolution shall be in full force and
effect from and after its adoption by the Common Council and
approval by the Mayor.
0803P
PRESEFNM 1� ^ oZ Q -qo
'•1OT APPROVED
.DOPTED N.- 4
Member of the Co(y Counc'
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Filed in Clerk's Gffaic
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