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Home My WebLink About6B(1) Resolution No. 2597~. ~ <<~ RESOLUTION NO. 2597 A RESOLUTION APPROVING AN APPLICATION FOR PERSONAL PROPERTY TAX DEDUCTION WHEREAS, LC. 6-1.1-12.1-2(1) provides that an application forpropertytax deduction may not be approved when the property is located in an allocation area as defined in LC. 36-7-14-39, unless the Redevelopment Commission which designated that allocation area adopts a resolution approving that application; and WHEREAS, the South Bend Common Council has received a petition for five years (5) of personal property tax abatement consideration from Schafer Gear Works, Incorporated for personal property located at 4701 Nimtz Parkway in the Airport Economic Development Area, the legal description of which is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Airport Economic Development Area by Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport Economic Development Allocation Area, Allocation Area No. 1; and WHEREAS, the property located at 4701 Nimtz Parkway is located within the Airport Economic Development Allocation Area, Allocation Area No. 1. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1) The Commission finds that the application fi•om Schafer Gear Works, Incorporated for five (5) years of personal property tax abatement consideration for property located at 4701 Nimtz Parkway in the Airport Economic Development Allocation Area, Allocation Area No. 1, should be and is hereby approved. 2) That a copy of this resolution be forwarded to the South Bend Common Council to indicate the Commission's approval of the petition for personal property tax abatement for Schafer Gear Works, Incorporated. Approved this 21st day of August, 2009, at the regularly scheduled meeting of the South Bend Redevelopment Conunission. SOUTH BEND REDEVELOPMENT COMMISSION ATTEST: EXHIBIT A LEGAL DESCRIPTION Description: Apart of the Southeast Quarter (SE1/4) of Section 20 and part of the Southwest Quarter (SW 1 /4) of Section 21, Township 38 North, Range 2 East, situate in Genilan Township, St Joseph County, State of Indiana, and being more particularly described as follows: Lots numbered ten (10) and eleven (1 1) as shown on the recorded plat of H.G. Baus Centre- Phase One, recorded March 16, 1995 as document Number 9507104 in the Office of d1e Recorder of St. Joseph County, Indiana. Tax Key No.: 018-3042-1621 Address: 4701 Nimtz Parkway South Bend, IN 46628 1200 COUNTY-CITY BUILDING 227 W. JeP>:ERSON BOULEVARD SOUTH BEND, INDIANA 46601-15'30 PHONE 574/235-9371 FAx 574/235-9021 TDD 574/ 235-5567 CI"I'Y OF SOU"FH BEND STEPHEN J. LUEChE, MAYOR COMMUNITY ~ ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY EXECUTIVF, DiKECTOR TAX ABATEMENT REPOR T TO: SOUTH BEND REDEVELOPMENT COMMISSION FROM: BOB MATHIA }~,'"i'~ SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: SCHAFER GEAR WORKS, INCORPORATED DATE: August 6, 2009 On August 5, 2009, a petition for personal property tax abatement consideration for property located at 4701 Nimtz Parkway was filed with the City Clerk by Schafer Gear Works, Incorporated. Pursuant to Chapter 2, Article 6, Section 2-84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I. C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition, investigated the area, and makes the following report. PROJECT SUMMARY Schafer Gear Works manufactures gears and machined components to customer specifications. The company has received new business from three customers that require the purchase of new equipment. The equipment consists of three CNC lathes, one CNC hobbing machine, one CNC gear grinding machine, one CNC machining center, two deburring machines and one internal gear grinding attachment. The total estimated cost of the equipment is $2,800,000. Total taxes to be abated during the (5) five-year abatement period are estimated at $44,531. Total additional taxes to be paid as a result of the project during the five-year abatement period are estimated at $216,721. COMMUNI"PY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL BC PROGIL~M PnMet.q C. M[vr.a Dotini.D E. INkti IVIANAG EMENT 574/235-9660 574/235-9371 ELIZABETH LGONARD Fnx: 574/235-)697 574/235-9371 South Bend Redevelopment Commission RE: Tax Abatement for Schafer Gear Works Incorporated August 6, 2009 Page 2 EMPLOYMENT IMPACT Per the petition, it is estimated that the project will create eight (8) new, permanent full-time positions with an annual payroll $249,600. The project will also maintain sixty-seven (67) existing permanent full- time positions with a total annual payroll of $2,852,281. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted finds that the petitioner has been granted or been associated with nine (9) previous tax abatements. Term/Type Resolution No. Date 5-year personal property 3710-07 2/26/2007 5-year personal property 3055-02 1/14/2002 10-year real property 2636-98 6/30/1998 5-year personal property 2541-98 1/12/1998 5-year personal property 2285-95 10/09/1995 10-year real property 2148-94 6/27/1994 5-year personal property 2055-93 7/12/1993 5-year personal property 1876-91 6/10/1991 5-year personal property 1631-88 7/25/1988 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. A review of the South Bend Redevelopment designation areas finds that the property is located in the Airport Economic Development Area, which is a Tax Incremental Allocation Area; therefore, the petition for personal property tax deduction must first be approved by the South Bend Redevelopment Commission. 4. 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