12-13-10 Common Council Meeting Minutes

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REGULAR MEETING DECEMBER 13, 2010 string tension and winding equipment. G.H.S. Corporation will be transferring or purchasing and installing new and used equipment. All of the used equipment will come from outside the State of Indiana. The estimated cost of the project is $600,000 to $1,000,000. Mr. Deahl advised that at a cost amount of $600,000 total taxes to be abated during the five (5) year abatement period are estimated at $26,096 and total taxes to be paid during the five year abatement period are estimated at $23,746. At a cost of $1,000,000 total taxes to be abated during the five year abatement period are estimated at $43,494 and total taxes to be paid during the five year abatement period are estimated at $39,577. It is estimated that the total project will create at least fifteen (15) new, permanent full time jobs in the first year of production representing a new annual payroll of at least $350,000. Because the project is new to South Bend there are no existing jobs. A Public Hearing was held on the resolution at this time. There being no one present wishing to speak either in favor or in opposition to this Resolution, Councilmember Varner made a motion to adopt this resolution. Councilmember White seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO 4070-10 A RESOLUTION RECONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR STANZ FOODSERVICE, INC. DESIGNATING ADDITIONAL PROPERTY OWNERS AS FOLLOWS: STANZ REALTY CO., LLP AND STANZ CHEESE CO., INC. WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, the Common Council of the City of South Bend, Indiana, adopted a Confirmatory Resolution, No. 3896-08, confirming the designation that certain areas within the City be an Economic Revitalization Area for the purpose of tax abatement consideration; and WHEREAS, the petitioner subsequent to adoption of the Confirming Resolution financed the intended personal property through two other operating entities: Stanz a Realty Co., LLP (whose mailing address is P.O. Box 24, South Bend, IN 46624)nd Stanz Cheese Co., Inc. (whose mailing address is 1840 N. commerce Dr., South Bend, IN 46628); and WHEREAS, Stanz Realty Co., LLP and Stanz Cheese Co., Inc. are doing business as (d/b/a) Stanz Foodservice, Inc.; and WHEREAS, Stanz Foodservice, Inc., Stanz Realty Co., LLP and Stanz Cheese Co., Inc. are wholly owned by the same three individuals; and WHEREAS, the personal property acquired is the same as what was originally contemplated in the original Statement of Benefits and tax abatement petition; and 25