08/13/07 Council Meeting Minutes

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REGULAR MEETING AUGUST 13, 2007 feet; thence North 00 00'27" West, 194.85 feet to a point the centerline of the East and West 14 foot alley between King Street and McCartney Street produced East; thence North 00 06'09" East, 128.81 feet; thence North 89 46'49" East 287.05 feet to the Westerly line of Riverside Drive; thence South 16 37' 15" West along a chord subtending said Westerly line of Riverside Drive, 455.43 feet to the South line said section 35; thence North 90 00'00" West along said South line, 156.71 feet to the point of the beginning. Commencing at the Southeast corner of the'/4 of said section 35; thence North 00 00'30" West (bearing assumed) along the East line of said Southwest 1/4 a distance of 463.14 feet to the Point of Beginning for the following described tract; thence continuing North 00 00'30" West along said East line 336.00 feet to the South line of Queen Street; thence south 89 56'09" West along said South line of Queen Street 176.60 feet, thence North 00 02'36" East 195.00 feet to the centerline of the East and West 14 foot alley between Kinyon Street and Queen Street; thence South 89 56'09" West along said centerline of alley, 131.27 feet; thence South 00 06'09" West along the East line of Lot 145 in the Third Plot of Northwest Addition recorded March 7, 1907 in Plat Book 9, page 60 in the Office of the St. Joseph County Recorder and its Northerly and Southerly extensions, 195.00 feet to the South line of Queen Street; thence South 89 56'09" West along Allen Street; thence South 00 05'51" West along said East line of Allen Street, 329.87 feet to the South line of McCartney Street; thence South 89 58'27" East along said South line of McCartney Street, 12.91 feet; thence South 00 06'09" West 6.11 feet; thence North 89 56'09" East 308.71 feet to the Point of beginning. and which has Key Numbers 18-2110-4065 and 18-2110-4067, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et seq., and; WHEREAS, the Department of Community and Economic Development has concluded and investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6-1.1-12.1, et seq., and South Bend Municipal Code Sections 2-76, et sec ., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Community and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds pursuant to Indiana Code 6-1.1-12.1-4.5 et seq., that: (a) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type: (b) the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new manufacturing equipment; (c) The estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new equipment; 27