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07-12-04 Council Meeting Minutes
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07-12-04 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
7/12/2004
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REGULAR MEETING JULY 12, 2004 <br /> d. Any other benefits about which information was requested are benefits <br /> that can be reasonably expected to result from the proposed new manufacturing <br /> equipment; and <br /> e. The totality of benefits is sufficient to justify the deduction requested. <br /> SECTION II. The Common Council hereby determines and finds that the <br /> proposed new manufacturing equipment can be reasonably expected to yield the benefits <br /> identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition <br /> for Personal Property Tax Abatement Consideration, the Memorandum of Agreement <br /> between the Petitioner and the City of South Bend, and that the Statement of Benefits <br /> form completed by the petitioner, said form being prescribed by the State Board of <br /> Accounts, are sufficient to justify the deduction granted under Indiana Code 6-1. 1-12. 1- <br /> 4.5. <br /> SECTION III. The Common Council hereby accepts the report and <br /> recommendation of the Department of Community and Economic Development, and the <br /> Community and Economic Development Committee's favorable recommendation, that <br /> the area herein described be designated as an Economic Revitalization Area for purposes <br /> of personal property tax abatement and hereby makes such a designation. <br /> SECTION IV. The Common Council determines that such designation is for <br /> personal property tax abatement only and shall be limited to two (2) calendar years from <br /> the date of the adoption of this Resolution by the Common Council. <br /> SECTION V. The Common Council hereby determines that the property owner <br /> is qualified for and is granted property tax deduction for a period of five (5) years. <br /> SECTION VI. The Common Council directs the City Clerk to cause notice of the <br /> adoption of this Declaratory Resolution for Personal Property Tax Abatement to be <br /> published pursuant to Indiana Code 5-3-1, said publication providing notice of the public <br /> hearing before the Common Council on the proposed confirming of said declaration. <br /> SECTION VII. This Resolution shall be in full force and effect from and after its <br /> adoption by the Common Council and approval by the Mayor. <br /> s/Karen L. White <br /> Member of the Common Council <br /> Councilmember Kelly, Chairperson, Community and Economic Development <br /> Committee, reported that this committee held a Public Hearing on this bill this afternoon <br /> and voted to send it to the full Council with a favorable recommendation. <br /> Mr. John Heckaman, 1520 E. LaSalle Avenue, South Bend, Indiana, made the 1j <br /> presentation for this bill. <br /> Mr. Heckaman advised that Curtis Products provides fabricated tube assemblies for <br /> original equipment manufacturers engaged primarily in agricultural and automotive <br /> industries throughout the United States. The new equipment will allow the company to <br /> meet new production requirements necessary to fill recent contracts with John Deere and <br /> Meyer Stamping. Mr. Heckaman stated that the estimated total cost of the new <br /> equipment will be $350,000.00. The project will create 5-6 new, permanent jobs with the <br /> first year, representing a new annual payroll of$150,000-$180,000 and will maintain 99 <br /> existing permanent full-time and 30 existing part-time jobs representing an annual payroll <br /> of$3,662,920. <br /> A Public Hearing was held on the Resolution at this time. <br /> There being no one present wishing to speak to the Council either in favor of or in {� <br /> opposition to this Resolution, Councilmember Kelly made a motion to adopt this <br /> 17 <br />
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