01-14-13 Common Council Meeting Minutes

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REGULAR MEETING JANUARY 14, 2013 090101; 018-3092-3513; 018-3025-09401; and 018-35104-03004 presently, as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Personal Property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Personal Property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. s/Derek D. Dieter Member of the Common Council Mr. Jeff McGowan, CPA, Kruggel & Lawton, 210 S. Michigan Street, Suite 200, South Bend, Indiana, made the presentation for this bill on behalf of the owner Curtis Products, Inc. Mr. McGowan advised that Curtis Products, Inc. fabricates metal tubing and related assemblies for customers engaged primarily in the agricultural industries throughout the United States. He stated that the equipment to be purchased includes a Socco electric CNC tube blender, a hose crimping machine, four tank cleaning lines with hoist and automation, a Manchester M78 end forming machine, a MK2 Pillar induction braze machine, and an air compressor 60 HP. The total cost of the equipment is estimated to be $674,678. He stated that taxes for the five year abatement are estimated at $58,752 and taxes abated for the five years would be $6,661. 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 Varner made a motion to adopt this Resolution. Councilmember Schey seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. 14