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REGULAR MEETING MAY 29, 2012 <br /> <br /> <br />radius of 4463.66 feet and subtended by a long chord having a bearing of <br />North 54 degrees 36 minutes 59 seconds West and a distance of 549.80 <br />feet; thence North 51 degrees 05 minutes 08 seconds West 465.22 feet; <br />thence North 0 degrees 56 minutes 57 seconds West 761.20 feet to the <br />East-West half section line of said East half the point of beginning, and <br />containing 26.203 acres, more or less <br /> <br />and which has Key Number 25-1013-0218 as an Economic Revitalization Area; 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 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 /> <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 (5) five 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 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 /> s/Derek D. Dieter <br /> Member of the Common Council <br /> <br />Trent Rock, Plant Manager, Federal-Mogul’s Piston Plant, 3605 W. Cleveland Road, <br />South Bend, Indiana, advised that they are asking for a tax abatement on $22 million <br />dollars in new investment. He stated that it would be used to secure their ability to serve <br />their customers competitively with a most cost effective foot print in years ahead. He <br />stated that they employ approximately 400 people and anticipate a minimum of 20 more <br />to come on board with this investment. This should have about a million dollar payroll. <br /> <br />A Public Hearing was held on the Resolution at this time. <br /> <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this Resolution, Councilmember Oliver Davis made a motion to adopt this <br />Resolution. Councilmember Scott seconded the motion which carried and the Resolution <br />was adopted by a roll call vote of nine (9) ayes. <br /> <br />BILL NO. 12-37 A RESOLUTION CONFIRMING THE <br /> ADOPTION OF A DECLARATORY <br /> RESOLUTION DESIGNATING CERTAIN <br /> AREAS WITHIN THE CITY OF SOUTH BEND, <br /> INDIANA, COMMONLY KNOWN AS 1217 S. <br /> WALNUT STREET TO BE AN ECONOMIC <br /> REVITALIZATION AREA FOR PURPOSES OF <br /> A FIVE (5) YEAR PERSONAL PROPERTY TAX <br /> ABATEMENT FOR LOCK JOINT TUBE, LLC <br /> 19 <br /> <br />