06-26-06 Council Meeting Minutes

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REGULAR MEETING JUNE 26, 2006 SECTION IV. The Common Council hereby accepts the report and recommendation of the Community and Economic Development Committee that the area herein described be designated as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of eight (8) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s/Timothy A. Rouse Member of the Common Council Councilmember Kuspa, Member, Community and Economic Development Committee, reported that this committee held a Public Hearing on this bill this afternoon and voted to send it to the full Council with a favorable recommendation. Mr. Marcel Levin, Attorney, May, Oberfell, Lorber, 4100 Edison Lakes Parkway, Suite 100, Mishawaka, Indiana, and Mr. Phil Panzica, 422 E. Monroe Street, South Bend, Indiana made the presentation for this bill. Mr. Levin advised that Tuliptree Associates, LLC/PEI-Genesis, Inc., core business is the manufacture, assembly, and distribution of electronic components, primarily electronic connectors. The company also designs and manufactures electronic systems, cable assemblies, and specialized connectors and components. They stated that the addition will allow PEI-Genesis to consolidate its North American manufacturing operations. The estimated cost of the addition is $7,250,000. As a result of the expansion, the company will increase its full-time workforce by (12) twelve people. 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 Kelly made a motion to adopt this Resolution. Councilmember Varner seconded the motion which carried and the Resolution was adopted by a roll call vote of seven (7) ayes. RESOLUTION NO. 3610-06 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 6140 BRIDGETON LANE AS A RESIDENTIALLY DISTRESSED AREA FOR PURPOSES OF A FIVE (5) YEAR RESIDENTIAL REAL PROPERTY TAX ABATEMENT FOR AUSTIN J. HICKEY 15