HomeMy WebLinkAboutDesignating Tax Abatement - Steel Warehouse Co. Inc. Slitter Modernization & Expansion Project 2722 W. Tucker Dr. (5 Year Personal Property)Attest:
RESOLYITION
Passed by the Common Council of the City of South Bend, Indiana,
Attest
November
14, is 88
Clerk
Presented by me to the Mayor of the City of South Bend, I
November 15, 88
19
of Common Council.
Approved and signed by me 19
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City Clerk
Mayor
RESOLUTION NO. _11nZI= $ g__________
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 2722 W. TUCKER DRIVE, SOUTH
BEND, INDIANA, TO BE AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A FIVE YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
THE STEEL WAREHOUSE CO. INC. SLITTER MODERNIZATION AND
EXPANSION PROJECT.
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 2722 W. Tucker Drive, South Bend, Indiana, and
which is more particularly described as follows:
A part of the northwest 1/4 of Section 15, Township 37
'.North, Range 2 East, now within and part of the City of South
Bend, Indiana, described as follows:
Beginning at a point on the west line of the southeast
1/4 of the northwest 1/4 of said Section 15, a distance of
260.00 feet south of the northwest corner of said southeast
1/4 of the northwest 1/4, said point being on the south line
of Tucker Drive; thence east along said south line of Tucker
Drive 305.00 feet; thence south parallel with the west line
of said southeast 1/4 of the northwest 1/4, 490.85 feet to
the north right of way of the Indiana Northern Railway
Company; thence west along said north right of way line
225.70 feet to the west edge of Steel Warehouse Co. Inc.'s
building; thence north along said west edge of building
172.00 feet; thence west parallel with the north right of way
line of said Indiana Northern Railway Company 104.30 feet to
the southeast corner of a tract of land conveyed to Stanley
Enterprises, Inc.; thence north along the east line of said
Stanley Enterprises, Inc. tract 320.74 feet to the south line
of Tucker Drive; thence east along said south line of Tucker
Drive 25.00 feet to the point of beginning, containing 3.314
acres, more or less.
Subject to highway and easements of record.
be designated as an Economic Revitalization Area under the
provisions of Indiana Code 6 -1.1- 12.1 -1 et_seg_., and South Bend
Municipal Code section 2 -76 et_seg_, 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_seg, 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_1e1., and qualifies under the
provisions of South Bend Municipal Code Section 2 -76, et_seg_, 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
rehabiliation 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 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
Rrvitalization Area for purposes of personal property tax
abatement and hereby makes such a designation.
SECTION 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.
SEC_TIO_N 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.
S_E_C_T_IO_N V_II. 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
effect from and after its
approval by the Mayor.
PRESENTED I I — 14 —
NOT APPROVEIJ'
ADOPTED -1 i — 1 `( — O
Resolution shall be in full force and
adoption by the Common Council and
Member of the Common Council
Filed In Clerk's Offieb
NOV 91988
IRENE GAMMON
CITY CLERK, SO. BFUn W