HomeMy WebLinkAboutDesignating Tax Abatement - Mack Tool & Die, Inc. 2820 Viridian St. (5 Year Personal Property)RESNOLYTION
Passed by the Common Council of the City of South Bend, Indiana,
January 22, 90
C
Attest: _._. � City Clerk
Attest: / f President of Common Council.
i
V
Presented by me to the Mayor of the City of South Bend,
January 23, 90
9
Approved and signed by me_ January 26 1990
City Clerk
Mayor
RESOLUTION NO. 1-765-90
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
2820 VIRIDIAN STREET, SOUTH BEND, INDIANA,
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
MACK TOOL & DIE, INC.
WHEREAS, a petition for personal property tax 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
2820 Viridian Street, South Bend, Indiana, and which is more
particularly described as follows:
The following described real estate located in
St. Joseph County, in the State of Indiana:
A part of the Southeast Quarter (1/4) of Section
Twenty -eight (28) , Township Thirty -eight (38)
North, Range Two (2) East, of the Second Principal
Meridian, City of South Bend, St. Joseph County,
Indiana, and described as follows:
Commencing at the Northeast corner of the South-
east Quarter (1/4) of said Section 28, said point
being at the intersection of Bendix and Boland
Drives; thence South 89 degrees 58 minutes 56
seconds West (bearing assume) along the Southerly
right-of-way line of Boland Drive 1242.51 feet to
the point of beginning; thence South 00 degrees 21
minutes 33 seconds West, 293.00 feet; thence South
89 degrees 58 minutes 56 seconds West, 260.00
feet; thence North 00 degrees 21 minutes 33
seconds East, 293.00 feet, thence North 89 degrees
58 minutes 56 seconds East, 260.00 feet to the
point of beginning.
Subject to legal highways,
be designated as an Economic Revitalization
of Indiana Code 6 -1.1- 12.1 -1 et seq., and
Section 2 -76 et seq.; and
Area under the provisions
South Bend Municipal Code
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 Section 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 that
the Petition for Personal Property Tax Abatement and Statement of
Benefits form completed by the Petitioner meet the requirements of
I.C. 6 -1.1- 12.1 -1 et seq., and qualifies under the provisions of South
Bend Municipal Code Section 2 -76, et seq., for tax 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 reasonable be
expected to result from the proposed described redevelopment or re-
habilitation;
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
reduction; 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 Common Council hereby accepts the report and
recommendation of the Human Resources and Economic Development
Committee that the area herein described be designated an Economic
Revitalization Area for purposes of personal property tax abatement and
hereby makes such a designation.
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.
PRESENTED J - 2 a "7 O
NOT APPROVED
ADOPTED %- ogOq�' q0
- 2 -