HomeMy WebLinkAboutDesignating Tax Abatement - Spin-Cast Plastics, Inc. Lots 5-3 & 5-4 in Airport Industrial Park Ph IV (5 Year Personal Property)RESNP L POT 190 N
Passed by the Common Council of the City of South Bend, Indiana,
Attest
February
13, to 89
Clerk
President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
February 14, 89
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City Clerk
Approved and signed by me_ February 14, 1989 _.
Mayor
It
RESOLUTION NO.
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
LOTS 5 -3 AND 5 -4 IN THE AIRPORT INDUSTRIAL
PARK, PHASE IV,
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES
OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT
FOR SPIN -CAST PLASTICS, 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 in
South Bend, Indiana, which is described as follows:
Lots 5 -3 and 5 -4 combined Airport Industrial Park,
Phase IV, St. Joseph County, Indiana,
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 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'tthe 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 meets the requirements
of Indiana Code 6 -1.1- 12.1 -1 et sea., and qualifies under the
provisions of South Bend Municipal Code Section 2 -76, et sea., 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;
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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 Indiana Code
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
Indiana Code 6 -1.1- 12.1 -4.5.
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.
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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.
f the Co ouncil
330057
I" MelK J Utiiz
FEB 8 1989
PRESENTED -s q IRENE GAMMON
NOT APPROVE. NTY r[FRK, Sp RG4^ "
ADOPTED a- / j -S9
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