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02-14-05 Council Meeting Minutes
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02-14-05 Council Meeting Minutes
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City Council - City Clerk
City Counci - Date
2/14/2005
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REGULAR MEETING JANUARY 24,2005 <br />WHEREAS, a Declaratory Resolution designated the area commonly known as 4050 <br />Ralph Jones Drive, South Bend, Indiana, and which is more particularly described as <br />follows: <br />Lots Numbered Sixteen (16) and Seventeen (17) as shown on the recorded Plat of Toll <br />Road Industrial Park Section 6, recorded April 7, 1989 as Document Number 8908570 in <br />the Office of the Recorder of St. Joseph County, Indiana <br />and which has Key Numbers 25-1013-021107 and 25-1013-021201, as an Economic <br />Revitalization Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing <br />before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrances and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as an Economic Revitalization Area for the <br />purposes of tax abatement. Such designation is for Personal property tax abatement only <br />and is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner is <br />qualified for and is granted Personal property tax deduction for a period of five (5) years, <br />and further determines that the petition complies with Chapter 2, Article 6, of the <br />Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 etseq . <br />SECTION III. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approved by the Mayor. <br /> s/Charlotte D. Pfeifer <br /> Member of the Common Council <br />Mr. Richard Deal, Attorney, Barnes & Thornburg, 100 N. Michigan Street, South Bend, <br />Indiana made the presentation on behalf of the petitioner Mr. John D. Razzano, President, <br />Fulton Industries. <br />Mr. Deal advised that Fulton Industries is a precision machine shop which manufactures <br />components for engines, power-trains and other products. The new equipment includes <br />CNC Machining Centers, Computer Controlled Measuring and Manufacturing <br />Equipment and Ropotic Equipment. It is estimated that the total cost of the new <br />equipment will be between $5.2 and $8.2 million. The project will create 14-18 new, <br />permanent jobs within the first year, representing a new annual payroll of $630,000 to <br />$810,000. <br />A Public Hearing was held on the Resolution at this time. <br />Sharon Kendall, Executive Director, Community & Economic Development, 1200 <br />County-City Building, South Bend, Indiana, spoke in favor of this bill. <br />Ms. Kendall advised that this project is a valuable asset to the City of South Bend, <br />Indiana. <br />20 <br /> <br />
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