09-27-10 Common Council Meeting Minutes

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REGULAR MEETING SEPTEMBER 27, 2010 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. s/Derek D. Dieter Member of the Common Council Councilmember Timothy Rouse, Chairperson, Community & Economic Development Committee, reported that this committee met this afternoon and voted to send this bill to the Common Council with a favorable recommendation. Mr. Jim Tuesley, Attorney for Steel Warehouse, advised that Steel Warehouse is a steel service center focusing on flat rolled, low carbon steel, with operations involving slitting, leveling, pickling, temper rolling, shearing and cold reducing. The company also supplies profiling parts using its plasma and laser cutting operations. In connection with its operations the company takes substantial positions in steel products for future sale and marketing of same to its customers. He stated that under the proposed project Steel Warehouse will add laser cutting and material handling capacity for its existing and expanding customer base. He noted that the total estimated cost of the equipment is $2,400,000 to $3,000,000. He noted that depending on the final value of the equipment to be procured total taxes to be abated during the five (5) year abatement period are estimated to be between $55,746 and $77,809. Total additional taxes to be paid as a result of the project during the five (5) year abatement period are estimated to be between $163,197 and $203,997. Mr. Tuesley stated that per the petition, it is estimated that the project will create seven (7) to nineteen (19) new, permanent full-time positions with an annual payroll of $212,700 to $582,864. The project will also maintain four (4) existing permanent full-time positions with a total annual payroll of $133,120. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Rouse made a motion to adopt this Resolution. Councilmember Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 4050-10 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 2722 W. TUCKER DRIVE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (5) FIVE-YEAR PERSONAL PROPERTY TAX ABATEMENT FOR STEEL WAREHOUSE COMPANY, LLC AND AFFILIATES AND EQUIPMENT LESSORS 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 2722 W Tucker Drive South Bend, Indiana, and which is described: as: The following parcels of Real Estate all located in St. Joseph County, Indiana: A part of the South ½ of the Northwest ¼ of Section 15, Township 37 North, Range 2 East in the City of South Bend, St. Joseph County, Indiana, described as follows: 13