HomeMy WebLinkAboutDesignating 1265 Frankling, Catalyst Two Building, Ignition Park, for a five (5) year real property tax abatement for Spectron mrc, LLCAttest:
RESOLUTION
No. 4541 -16
Passed by the Common Council of the City of South Bend, Indiana
March 14, 20—L6—.
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
March 15, 20 16
Approved and signed by me �'��!��' 1 i 5 204U.
City Clerk
0
RESOLUTION NO. gbgl -0
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
1265 Franklin, Catalyst Two Building, Ignition Park, South Bend, IN 46601
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
(5) FIVE -YEAR PERSONAL PROPERTY TAX ABATEMENT FOR:
Spectron mrc, LLC
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 1265 Franklin, Catalyst Two Building, Ignition Park,
South Bend, IN 46601 and which is more particularly described as follows:
Business Personal Property
and which has a Key Number to be assigned be designated as an Economic Revitalization Area
under the provisions of Indiana Code 6 -1.1 -12.1 et sec ., and South Bend Municipal Code Sections 2-
76 et SeMc ., 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 L ., and South Bend
Municipal Code Sections 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 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 seq., 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 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 force and effect from and after its adoption by the
Common Council and approval by the Mayor.
,'RESENTED i I I qI { 1p
NOT APPROVED
,kDOPTW 3l 1 I= U
Member of the
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CAI 9 2016
KAREEMAH FOWLER
CITY CLE=RIC, SOUTH BEND, IN