01-14-08 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING JANUARY 14, 2008 SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition for Real Property Tax Abatement Consideration, the Memorandum of Agreement between the Petitioner and the City of South Bend, and that the Statement of Benefits form completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1- 3. 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 six (6) 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 Common Council Councilmember Dieter, Chairperson, Community and Economic Development Committee, reported that this committee held a Public Hearing to hear the pros and cons on this bill this afternoon and voted to send it to the full Council with a favorable recommendation. Mr. Jay Walters, Bingham Economic Development Advisors, 8900 Keystone Crossing, Suite 400, Indianapolis, Indiana, made the presentation for this bill. Mr. Walters advised that Ryan Fireprotection, Inc. is a leader in the engineering, design and construction of fire protection systems. It is currently leasing a facility in South Bend where it employs seventeen (17) people. The lease on the existing building will expire in early 2008 and the company has decided to construct a new, larger facility to meet their increasing space requirements due to strong sales growth in this region. The facility will be used for some light fabrication of fire protection systems and storage of parts. It will also serve as a base for repair and installation employees to work from. It is anticipated that the facility will serve clients within a 100 mile radius of South Bend. The new building will contain 30,000 square feet and be expandable up to a total of 50,000 square feet. The estimated cost of the building is $1,103,650. 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 Dieter made a motion to adopt this Resolution. Councilmember White seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. 14