04-14-08 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING APRIL 14, 2008 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 eight (8) 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 the Common Council Councilmember Puzzello, Member of the Community and Economic Development Committee reported that this committee held a Public Hearing on this bill this afternoon and voted to send it to the full Council with a favorable recommendation. Mr. Bernie Bolka, Vice President Finance & Administration, Heraeus Kulzer, Inc., 4315 S. Lafayette Blvd., South Bend, Indiana, made the presentation on the bill. Mr. Bolka advised that Heraeus Kulzer, Inc. is proposing to renovate a 25,000 square foot existing building in order to combine their managerial/administrative staff with their manufacturing facility that is already on the site. The building is the eastern most of three connected buildings and fronts on South Lafayette Boulevard. This move will improve the efficiency of both operations. The company manufactures and distributes dental consumable products on the site. The estimated cost of the project is $1,800,000. The manufacturing facility has been at this location since 1989 and under current ownership since 1995. It is estimated that the total project will create thirty-five (35) new, permanent, full-time jobs representing a new annual payroll of $2,922,953. The project will also retain sixty-one (61) existing, permanent, full-time jobs representing an annual payroll of $3,211,500. A Public Hearing was held on the Resolution at this time. There being no one present wishing tot speak to the council either in favor of or in opposition to this Resolution, Councilmember Varner made a motion to adopt this Resolution. Council Member Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. 14