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HomeMy WebLinkAboutDesignating Tax Abatement - Bangor Refrigeration Corp. 3620 W. McGill Ct. (5 Year Personal Property)RESOLUTION NO. 1642 -88 Passed by the Common Council of the City of South Bend, September 12, 19 -88-• Attest: T I City Clerk Presented by me to the Mayor of the City of South Bend, September 13, 19 88 of Common Council. A- City Clerk Approved and signed by me September 14, 1988 Mayor RESOLUTION NO. " --6 t 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 3620 WEST Mc GILL COURT AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR BANGOR REFRIGERATION CORPORATION 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 3620 West McGill Court, South Bend, Indiana, and which is more particularly described as follows: A part of the Northeast Quarter of Section 38, Township 38 North, Range 2 East, of the City of South Bend, German Township, St. Joseph County, Indiana, and described as follows: Commencing at the Northeast corner of said Section 28; thence South 89048'05" West along the North line of said Quarter Section, 1305.00 feet; thence South 00000'23" West along the centerline of Kenmore Street, 363.70 feet; thence South 09059'37" East along said centerline, 486.87 feet to the centerline intersection of Kenmore Street and McGill Street; thence South 80000'23" West along the centerline of McGill Street, 303.50 feet; thence North 89059'37" West along said centerline, 270.66 feet to the Point of Beginning, thence South 00000'23" West, 401.41 feet; thence North 89059'37" West, 523.60 feet; thence North 00002'41" East, 401.40 feet; thence South 89059'37" West, 523.23 feet to the Point of Beginning, and containing 4.823 acres, more or less, and is subject to all easements, restrictions, and or limitations of record. be designated as an Economic Revitalization Area under the provisions of Indiana Code 6- 1.1- 12.1 -1 et seq., and South Bend Municipal Code section 2 -76 et seq., 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 seq., and South Bend Municipal Code section 2 -76, et seq., and has further prepared maps and plats showing the boundaries and sucF -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 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 propose 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 recommen action 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 a ffo ption 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.