10-23-17 Council Minutes - Laserfiche WebLink

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REGULAR MEETING October 23, 2017 17-67 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3333 N KENMORE ST, SOUTH BEND, IN 46628 AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR TRI-PAC, INC. Dan Buckenmeyer, Department of Community Investment, with offices on the 14th Floor of the County-City Building, served as the presenter of this bill. Mr. Buckenmeyer stated, This is a tax abatement also for Tri-Pac. The last one (1) we discussed was for the real property—the building itself. This is for personal property,which refers to actual equipment. So, it supports them in making a multimillion dollar investment in the equipment that will reside within their walls. Vikram Shah, President of Tri-Pac, Inc.,17336 M60, Vandalia, MI, served as the petitioner of this bill. Mr. Shah stated that they plan on moving equipment from the Michigan site to the Indiana site, as well as to add production and pharmaceutical lines and cleaning rooms to the facility. This being the time heretofore set for the Public Hearing on the above bill,proponents and opponents were given an opportunity to be heard. None from the public wished to speak in favor of or opposition to this bill. Councilmember Gavin Ferlic made a motion to adopt Bill No. 17-67. Councilmember Oliver Davis seconded the motion which carried by a roll call vote of nine (9) ayes. 17-69 A RESOLUTION SUPERSEDING A CONFIRMATORY RESOLUTION AND MODIFYING AND CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 23464 ADAMS ROAD, SOUTH BEND, IN 46628 AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A REAL PROPERTY TAX ABATEMENT FOR GLC SBDC II, LLC Dan Buckenmeyer, Department of Community Investment, with offices on the 14th Floor of the County-City Building, served as the presenter of this bill. Mr. Buckenmeyer stated, The abatement is a modification of a previous abatement for this building that has not yet been built, but we want to accelerate the action so we can get a critical piece of commercial property inventory in place. The substitute bill, as an aside, is just simply to correct some scrivener's errors and the primary description and corporate entity name. Councilmember Gavin Ferlic made a motion to accept Substitute Bill No. 17-69. Councilmember Karen White seconded the motion which carried by a voice vote of nine (9) ayes. Councilmember Regina Williams-Preston asked Mr. Buckenmeyer to present to the Council and public a summary of what has changed regarding the abatement. Mr. Buckenmeyer responded, In brief, about a year ago it was proposed as a nine (9) year tax abatement that would be tiered from one-hundred percent (100%) down with the benefits basically degrading, if you will, over the course of the nine (9) years. What we are doing is accelerating that, abridging the term to six (6)years and making it a hundred percent (100%) abatement to accelerate and encourage the developer to build this piece of property. We had 16