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REGULAR MEETING JANUARY 9, 2006 <br />Indiana, requesting that the area commonly known as 1801 Commerce Drive, South <br />Bend, Indiana, and which is more particularly described as follows: <br />E PT LOT 25 AIRPORT INDUSTRIAL PARK PHASE II- SEC 33- 38 -2E CONT .40 <br />ACRES+/-. <br />W 287 FT OF LOT 25 AIRPORT INDUSTRIAL PARK PHASE II SW 1-4 SEC. 33 -38 <br />-2E 1.57 ACRES <br />S 80.5 FT OF LOT 24 SW AIRPORT INDUSTRIAL PARK PHASE II SEC 33 -38 -2E <br />and which has Key Numbers 025-1008-033502; 025-1008-033508; 018-2183-688612; <br />018-2183-688603, be designated as an Economic Revitalization Area under the <br />provisions of Indiana Code 6-1.1-12.1 et sec ., and South Bend Municipal Code Sections <br />2-76 et sec ., and; <br />WHEREAS, the Department of Community and Economic Development has concluded <br />an investigation and prepared a report with information sufficient for the Common <br />Council to determine that the area qualifies as an Economic Revitalization Area under <br />Indiana Code 6-1.1-12.1, et sec ., and South Bend Municipal Code Sections 2-76, et sec ., <br />and has further prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br />WHEREAS, the Community and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area <br />qualifies as an Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION L The Common Council hereby determines and finds pursuant to Indiana <br />Code 6-1.1-12.1-4.5 et sec ., that <br />a. the estimate of the cost of the new manufacturing equipment is reasonable for <br />equipment of that type; <br />b. That the estimate of the number of individuals that will be employed or whose <br />employment will be retained by the Petitioner can reasonably be expected to result from <br />the proposed installation of new manufacturing equipment; <br />a. That the estimate of the annual salaries of those individuals that will be employed <br />or whose employment will be retained by the Petitioner can be reasonably expected to <br />result from the proposed installation of new manufacturing equipment; <br />d. any other benefits about which information was requested are benefits that can be <br />reasonably expected to result from the proposed new manufacturing equipment; and <br />e. the totality of benefits is sufficient to justify the deduction requested. <br />SECTION IL The Common Council hereby determines and fmds that the proposed new <br />manufacturing equipment can be reasonably expected to yield the benefits identified in <br />the Statement of Benefits as set forth in Sections 1 through 3 of the Petition for Personal <br />Property Tax Abatement Consideration and that Statement of Benefits form completed by <br />the petitioner, said form being prescribed by the State Board of Accounts, are sufficient <br />to justify the deduction granted under Indiana Code 6-1.1-12.1-4.5. <br />SECTION III. The Common Council hereby accepts the report and recommendation of <br />the Department of Community and Economic Development, and the Community and <br />Economic Development Committee's favorable recommendation, that the area herein <br />described be designated as an Economic Revitalization Area for purposes of personal <br />property tax abatement and hereby makes such a designation. <br />16 <br />