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REGULAR MEETING MAY 29, 2012 <br /> <br /> <br />and which has Key Number 018-8021-084503 a/k/a 71-08-15-276-003.000-026, be <br />designated 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 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 5 (five) years, and <br />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 /> s/Derek D. Dieter <br /> Member of the Common Council <br /> <br />st <br />Richard J. Deahl, Attorney, Barnes 7 Thornburg, LLP., 600 1 Source Bank Center, 100 <br />North Michigan, South Bend, Indiana, along with Robert Strzelecki, Controller, Lock <br />Joint Tube, 515 W. Ireland Road, South Bend, Indiana, made the presentation for these <br />bill. <br /> <br />Mr. Deahl advised that Lock Joint Tube owns and operates a facility on West Sample <br />Street and are engaged in the manufacturing of structural and mechanical grade steel <br />tubing and this investment is an investment of between $1 and $1.6 million dollars to <br />increase the size of their facility and the usability of their facility by adding on 30,000 <br />square feet and adding a new and kind of raising the roof on 60,000 square feet and then <br />investing more than $8 million dollars in new equipment that will enhance their <br />capabilities. This will result in an estimate of between 7 and 11 new jobs representing <br />payroll of an additional $210,000 to 4330,000 and allow them to retain their existing <br />workforce of 56 employees with payroll of over $2 million dollars. <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 these Resolutions, Councilmember Oliver Davis made a motion to adopt <br />Bill No. 12-37. Councilmember Scott seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of nine (9) ayes. Additionally, <br />Councilmember Oliver Davis made a motion to adopt Bill No. 12-45. Councilmember <br />Scott seconded the motion which carried and the Resolution was adopted by a roll call <br />vote of nine (9) ayes. <br /> <br /> <br />RESOLUTION NO. 4188-12 A RESOLUTION WAIVING THE REQUIRED <br /> 22 <br /> <br />