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HomeMy WebLinkAboutDesignating Tax Abatement - Schafer Gear Works Inc. 814 S. Main St. (5 Year Personal Property)Attest: RESOLUTION NO. 1626 -88 Passed by the Common Council of the City of South Bend, July 11, 19 88 4- Clerk Attest: �J[�(}1[�l.c ' President of Common Council. Presented by me to the Mayor of the City of South Bend, I July 12, 88 19 Approved and signed by me City Clerk Mayor RESOLUTION NO. _I bab -$$ A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATION CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 814 SOUTH MAIN ST. SOUTH BEND, IN 46618 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR SCHAFER GEAR WORKS, 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 814 South Main St., South Bend, Indiana, and which is more particularly described as follows: PARCEL I: All of Lots Numbered One Hundred Nine(109) and One Hundred Ten (110) as shown on the recorded Plat of Daniel Garst's 1st addition to South Bend City, now within and a part of the City of South Bend. PARCEL II: All of Lots Numbered Two Hundred Fifty -seven (257) and Two Hundred Fifty -eight (258) as shown on the recorded Plat of Daniel Garst's Subdivision of • part of his 1st addition to South Bend City, now • part of the City of South Bend. PARCEL III: All of Lots Numbered Two Hundred Eleven (211) and Two Hundred Twelve (212) as shown on the recorded Plat of Daniel Garst's 1st addition to the South Bend City, now within and a part of the City of South Bend. PARCEL IV: Beginning at the Northwest corner of Lot Two Hundred Twenty (220) in Garst's First addition to South Bend City now within and a part of the City of South Bend, Indiana, as recorded in Plat Book 3, page 41 in the Office of the Recorder of St. Joseph County, Indiana said beginning point being the inter- section of the South line of said vacated 14 foot alley with the East right -of -way line of Main Steet as now exist; thence North 0 °00'00" East (bearing assumed) along said East right -of -way line of Main Street, a measured distance of 52.13 feet to the South line of the North 30.00 feet of said Lot Two Hundred Sixty (260); thence North 89 °57'40" East along said South line and parallel with the North line of said Lot 260, a measured distance of 200.37 feet to the East line of Lot Two Hundred Twelve (212) in Garst's First addition; thence South O °10'21" West along the East line of said Lot 212, a measured distance of 51.93 feet to the Northeast corner of Lot Two Hundred Thirteen ( 213) in said Garst's First addition being also the Southeast corner of a 14 foot alley vacated by Vacation Resolution 3444; thence South 89 °56'20" West along the South line of said vacated 14 foot alley a measured distance of 200.25 feet to the place of beginning. PARCEL V: All of Lots Numbered Two Hundred THirteen (213), Two Hundred Fourteen (214), Two Hundred Fifteen (215), Two Hundred Sixteen (216) and the East 10 feet of Lot Numbered Two Hundred Seventeen (217) all as shown on the recorded Plat of Daniel Garst's 1st addition of South Bend City, now within and a part of the City of South Bend, excepting therefrom the South 25 feet thereof. PARCEL VI: All of Lots Numbered Two Hundred Eighteen (218), Two Hundred Nineteen (219) and Two Hundred Twenty (220) and the West 15 feet of Lot Numbered Two Hundred Seventeen (217) all as shown on the recorded Plat of Daniel Garst's 1st addition to South Bend City, now within and a part of the City of South Bend, excepting therefrom the South 24.5 feet thereof. be designated as an Economic Revitalization Area under the provision of Indiana Code 6 -1.1- 12.1 -1 et seg., and South Bend Municipal Cde 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 seq., and South Bend Municipal Code section 1 -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 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 rehabilitation; C. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonable expected to result from the proposed redevelopment or rehabilitation; D. That the other benefits about which information was requested are benefits that can be reasonable 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 reasonable 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 and 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 and effect from and after its and approval by the Mayor. PRESENTED 7-// —8g NOT APPROVED ADOPTED X k —3— shall be in full force adoption by the Common Council ember of the Common Council ad in Clerk's Office JUL 61988 liME E GAMMON CITY CLLR, Sid. BE19P V..