08/13/07 Council Meeting Minutes

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REGULAR MEETING AUGUST 13, 2007 (e) the totality of benefits is sufficient to justify the deduction requested. SECTION II. The Common Council hereby determines and finds that the proposed new manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits as set forth in Sections 1 through 3 of the petition for Personal Property Tax Abatement Consideration 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 6-1.1-12.1-4.5. SECTION III. The Common Council hereby accepts the report and recommendation of the Department of Community and Economic Development, and the Community and Economic Development Committee=s favorable recommendation, that the area herein described be designated as an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes such a designation. SECTION IV. The Common Council determines that such designation is for personal property tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner if qualified for and is granted property tax deduction for a period of five (5) years. SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana Code 5-3-1, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VII. 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 the Common Council RESOLUTION NO. 3776-07 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1400 W. RIVERSIDE DRIVE, SOUTH BEND, INDIANA, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR STEEL WAREHOUSE COMPANY LLC WHEREAS, a petition for personal property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 1400 W. Riverside Drive, South Bend, Indiana, and which is more particularly described as follows: The following parcels of Real Estate all located in St. Joseph County, Indiana: Beginning at the Southeast corner of the Southwest'/4 of said, section 35; thence South 89 49'52" West (bearing assumed) along the South line of said section, 308.97 feet; thence North 89 55'00" West, 116.24 feet; thence North 00 00'27" West, 12.00 feet to the North line of a 12 foot alley; thence North 89 55'00" West along said North line of alley, the East line of Kessler Boulevard, 128.00 feet South 89 55' 18" East of the Northeast addition to the City of South Bend recorded Apri16, 1906 in Plat Book 0, pages 30 and 31; thence South 89 55' 18" East along the South line of King Street, 352.84 26