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Home My WebLink AboutDesignating Tax Abatement - 1217 & 1215 South Walnut Street - Steel Warehouse Company LLCRESOLUTION 3777-07 Passed by the Common Council of the City of South Bend, Indiana August 13, 20 07 Attest: r City Clerk President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana August 14, Approved and signed by me 20 07 August 15 20 ~ ~ . City Clerk / ~ ~G/~ / /' C 2 \~' RESOLUTION NO. 3 ? 1 ~ -O 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 1217 AND 1215 SOUTH WALNUT STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR STEEL WAREHOUSE COMPANY 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 1217 and 1215 South Walnut Street, South Bend, Indiana, and which is more particularly described as follows: A tract of land in the City of South Bend, County of St. Joseph, and State of Indiana, situated in the Northwest Quarter of Section 14, and the Northeast Quarter of Section 15, Township 37 North, Range 2 East, bounded by the following described line: Beginning at a point in the West line of Walnut Street, 1239.70 feet South of the South line of Sample Street, which point is 587.95 feet South of the South line of the Sanders and Egbert Tract, as conveyed by deeds recorded in Deed Record 118, page 428 and Deed Record 121, page 320; thence on an assumed bearing of South 0 00'49" East along said West line of Walnut Street, 479.91 feet; thence South 89 54' 12" West, 725.03 feet; thence South 61 54' 12" West, 42.91 feet; thence South 89 23'32" West 437.13 feet; . thence North 0 00'49" West parallel with said West line of Walnut Street, 504.26 feet; thence North 89 55'05" East, 1200 feet to the place of beginning. A tract of land in the City of South Bend, County of St. Joseph, and State of Indiana, situated in the Northwest'/4 of Section 14, and the Northeast'/4 of Section 15, Township 37 North, Range 2 East, bounded by the following described line: Beginning at a point in the West line of Walnut Street, 682.75 feet south of the South line of Sample Street, which point is 31 feet South of the South line of the Sanders and Egbert Tract, as conveyed by deeds recorded in Deed Record 118, page 428 and Deed Record 121, page 320; thence on an assumed bearing of South 0 00'49" East along said West line of Walnut Street, 556.95 feet; thence South 89 55'05" West, 1200 feet; thence North 0 00'49" West parallel with said West line of Walnut Street, 589.19 feet to a point 651.75 feet South of the South line of Sample Street or the produced South line of the tract conveyed of F.C. Raff, recorded in Deed Record 172 page 641; thence South 89 57' 10" East along the South line above described tract produced East, 295 feet; thence South 0 00'49" East parallel with the West line of Walnut Street, 31 feet; thence North 89 57' 16" East, 905 feet to the place of beginning, containing 15.565 acres, more or less. and which have Key Numbers 18-8021-0845.03 and 18-8021-0845.04, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seQ., and South Bend Municipal Code Sections 2-76 et seq., and; WHEREAS, the Department of Community and Economic Development has concluded and 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 se ., and South Bend Municipal Code Sections 2-76, et sue., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required bylaw; and WHEREAS, the Community 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 pursuant to Indiana Code 6-1.1-12.1-4.5 et sea., that: (a) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; (b) the estimate of the number of 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; (c) the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new 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 manufacturing 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 the 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 and Economic Development, and the Community and Economic Development 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 if qualified for and is granted property tax deduction for a period of five (5) years. 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. r ~• Member of the Co on Council PRESENTED O - \ 3 A~ NOT APPROVED ~.DOPTED. ~ -~~ -mil Filed nl Cierk'e Cf~iiee JUL 1 6 2007 JOHIIVOORDE CRY CLERK, S0. BEND, IN. TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 07-98 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 1217 AND 1215 SOUTH WALNUT STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5)YEAR PERSONAL PROPERTY TAX ABATEMENT FOR STEEL WAREHOUSE COMPANY LLC Respectfully report that they have examined the matter and that in their opinion, this bill is being recommended to the full Council with a favorable recommendation. Karen L. White Chairperson