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REGULAR MEETING JULY 25, 2011 <br /> <br /> <br /> <br /> <br /> WHEREAS, petitioner has agreed to and has accepted responsibility to report any <br />changes in the final legal description and to report the final, appropriate Key Number to <br />the Department of Community and Economic Development and to the Office of the City <br />Clerk; and <br /> <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public <br />hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; <br />and <br /> <br />WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrance’s and objections from interested persons; and <br /> <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br /> <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 Real property tax abatement only and <br />is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br /> <br />SECTION II. The Common Council hereby determines that the property owner is <br />qualified for and is granted Real property tax deduction for a period of six (_6_) years, <br />and further determines that the petition, the Memorandum of Agreement between the <br />Petitioner and the City of South Bend, and the Statement of Benefits comply with <br />Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code <br />6-1.1-12 et seq. <br /> <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 /> <br /> <br /> s/Derek D. Dieter <br /> Member of the Common Council <br /> <br /> <br />st <br />Mr. Richard Deahl, Barnes & Thornburg, LLP, 600 1 Source Bank Center, 100 North <br />Michigan, South Bend, Indiana, made the presentation on behalf of GVW Realty, LLC. <br /> <br />Mr. Deahl advised that GVW Realty, LLC intends to construct a 30,625 square foot <br />building addition to an existing building located at 4411 Quality Drive. The existing <br />building is occupied by a tenant, Best One Tire. The new addition will be occupied by <br />another tenant, Premier Bandag #3. The new addition will be primarily made of steel, <br />masonry, and concrete materials. The estimated cost of the new addition is $1,500,000. <br />Premier Bandag #3, a franchisee of Bandag and Bridgestone Commercial Services <br />Group, recycles used truck tires by retreading them for reuse primarily for semi-trucks <br />and buses. Premier Bandag #3 has operated in the area since 1989. With this project <br />they will be relocating from a facility on Home Street in Mishawaka which involves the <br />transfer of 15 full time positions and 1 part time position. The project is vital to the <br />future growth of Premier Bandag #3 because it will enhance the Company’s image and <br />level of services it provides to its largest customer (Best One Tire) which will be located <br />next door. The estimated taxed to be abated are $185,279 and total taxes to be paid are <br />estimated at $130,537. It is estimated that the project will create fifteen (15) new, <br />permanent full-time positions and one (1) part-time position with total wages estimated at <br />$450,000. <br /> <br />A Public Hearing was held on the Resolution at this time. <br /> 12 <br /> <br />