HomeMy WebLinkAboutConfirming Tax Abatement - 220 W. Eckman (5 Year Personal Property) RESOLUTION
NO. 1568-87
Passed by the Common Council of the City of South Bend, Indiana,
December 21 , 19 87 .
Attest: - _-^_ City Clerk
Attest ilea.; .,/_A o 4/ �j� President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
December 22 , 19 87
h City Clerk
Approved and signed by me awydovo a� 19 q
�/�
IL; Mayor
RESOLUTION NO. 1 5 C.
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
220 WEST ECKMAN AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT
WHEREAS, a petition for personal property tax abate-
ment consideration has been filed with the Common Council of
the City of South Bend, requesting that the area commonly known
as 220 West Eckman, South Bend, Indiana, and which is more par-
ticularly described as follows :
Real Estate in St . Joseph County, in the State of
Indiana, described as follows:
A tract of land located in the Northwest Quarter of
Section 24, Township 37 North, Range 2 East, City of
South Bend, St. Joseph County, Indiana, and described
as follows :
Beginning at an iron pipe at the Southwest corner of
the Northwest Quarter of said Section 24; thence North
00°00 ' 00" East (all bearings assumed) along the West
line of the said Quarter Section, 1136.35 feet to a 4"
fence post, said point being at the South Right of Way
of Eckman Street (50 ' Right of Way) ; thence North
88°48 '43" East along the said Right of Way line of
Eckman Street 343 . 75 feet to a point identified by a
cross cut in concrete, said point being on the Right
of Way line of Pennsylvania System Vandalia Rail Road
Company (99 ' Right of Way) ; thence Southwesterly along
the said Rail Road Right of Way 1174 . 85 feet measured
on a curve to the right having a radius of 5682.44
feet, subtended by a chord having a bearing of South
13°08 ' 02" West and a chord length of 1172. 80 feet;
thence South 88°59 '32" West, 77.20 feet to the Point
of Beginning and containing 6 .035 acres more or less.
be designated as an Economic Revitalization Area under the pro-
visions of Indiana Code 6-1. 1-12 . 1-1 et seq. ; and South Bend
Municipal Code section 2-76; and
WHEREAS, the Department of Economic Development has
concluded an investigation and prepared a report with informa-
tion 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 sec-
tion 2-76, 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 . That the Common Council hereby determines
and finds that the estimate of the number of individuals that
will be employed or whose employment will be retained and the
estimate of the annual salaries of those individuals and the
estimate of the value of the redevelopment or rehabilitation
and the other benefits about which the Common Council has
obtained information are benefits that can be reasonably
expected to result from the installation of the new manufactur-
ing equipment.
SECTION II . That the Common Council hereby determines
and finds the following:
(A) If the proposed new manufacturing equipment is
not installed, the approximate current year tax rate
for the City would be $15.0781.
(B) If the proposed new manufacturing equipment is
not installed and no deduction is granted, the
approximate current year tax rate for the City would
be $15 . 0740 .
(C) If the proposed new manufacturing equipment is
installed, the deduction is granted, and a deduction
percentage of eighty percent (80%) is assumed, the
approximate current year tax rate for the City would
be $15 . 0773 .
SECTION III . That the Common Council hereby deter-
mines and finds that the proposed new manufacturing equipment
can be reasonably expected to yield the benefits identified in
the statement of benefits and that the statement of benefits is
sufficient to justify the deduction granted under Section
6-1. 1-12. 1-4 . 5 of the Indiana Code.
SECTION IV. That 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 desig-
nation.
SECTION V. That the Common Council determines that
such designation is for personal property tax abatement only
and shall be limited to five calendar years from the date of
the adoption of this Resolution by the Common Council .
SECTION VI . That the Common Council hereby determines
that the property owner is qualified for and is granted prop-
erty tax deduction for a period of five (5) years .
SECTION VII . That the Common Council directs the City
Clerk to cause notice of the adoption of this Resolution to be
published, said publication providing notice of the public
hearing before the Common Council on 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.
(embe/of the Common Co cif
Filed In Clerk's Office
DEC 161987
PRESENTED I a a IRENE GAMMON
NOT APPROVED CITY CI UM, SO. BEND, IN.
ADOPTED Ia-3- \ -%'7
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