HomeMy WebLinkAboutDesignating Tax Abatement - Manufacturing Technology Inc. 402 N. Sheridan St. (5 Year Personal Property)Atlas
RESOLUTION
4490 -15
Passed by the Common Council of the City of South Bend, Indiana
August 10, 15
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Presented by me to the Mayor of the City of South Bend, Indiana
August 11 20 15
City Clerk
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Approved and signed by me A V d U S+ t 202 S
City Clerk
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RESOLUTION NO.
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN
THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
402 N. Sheridan St., South Bend, IN 46619
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
(5) FIVE -YEAR PERSONAL PROPERTY TAX ABATEMENT FOR:
Manufacturing Technology, Inc.
WHEREAS, a petition for personal property tax abatement consideration has been filed with
the City Clerk for consideration by the Common Council of the City of South Bend, Indiana,
requesting that the area commonly known as 402 N. Sheridan St., South Bend, IN 46619 and which
is more particularly described as follows:
Business Personal Property
and which has a Key Number to be designated as an Economic Revitalization Area under the
provisions of Indiana Code 6 -1.1 -12.1 et sue., and South Bend Municipal Code Sections 2 -76 et sM.,
and;
WHEREAS, the Department of Community Investment 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, et SeMc ., and South Bend
Municipal Code Sections 2 -76, et sue., 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 Community Investment 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 et sec., that:
a. The estimate of the cost of the new manufacturing equipment is reasonable for
equipment of that type;
b. That the estimate of the number of individuals that will be employed or whose
employment will be retained by the Petitioner can reasonably be expected to result
from the proposed installation of new manufacturing equipment;
C. That the estimate of the annual salaries of those 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;
d. Any other benefits about which information was requested are benefits that can be
reasonably expected to result from the proposed 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 Sections 1 through 3 of the Petition for Personal Property Tax Abatement
Consideration and that 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 Community Investment, and the Community Investment Committee's favorable
recommendation, that the area herein described be designated as an 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) calendar 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 (5) five years as shown by the attachment pursuant
to Indiana Code 6 -1.1- 12.1 -17.
SECTION VI. 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 pursuant to Indiana
Code 5 -3 -1, said publication providing notice of the public hearing before the Common Council on
the proposed confirming of said declaration.
SECTION VII. This Resolution shall be in full f ect from and after its adoption by the
Common Council and approval by the Mayor.
Member of the
PRESENTED -�"� ( S'
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JOHN VOORDE
CSTY CLERIC, SOUTH BEND, IN
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
15 -78 A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA,
COMMONLY KNOWN AS 402 N. SHERIDAN ST., SOUTH
BEND, IN 46619 AN ECONOMIC REVITALIZATION AREA
FOR PURPOSES OF A (5) FIVE -YEAR PERSONAL
PROPERTY TAX ABATEMENT FOR MANUFACTURING
TECHNOLOGY. INC
Respectfully report that they have examined the matter and that in their opinion,
this bill is being recommended to the full Council with a favorable
recommendation.
This bill was heard by the Community Investment Committee.
Karen L. White
Chairperson, Committee of the Whole