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REGULAR MEETING JULY 26,2004 <br /> SECTION II. The Common Council hereby determines that the qualified for and is <br /> granted Personal property tax deduction for a period of five (5) years, and further <br /> determines that the petition, the Memorandum of Agreement between the Petitioner and <br /> the City of South Bend and the Statement Of Benefits comply with Chapter 2, Article 6, <br /> of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et <br /> SECTION III. 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 /> Mr. Matt Jordan, Board of Directors, Director of Marketing & Sales, Exacto Inc., 1213 E. <br /> Colfax, South Bend, Indiana made the presentation for this bill. <br /> Mr. Jordan stated that Exacto Inc. is a precision machine shop which manufactures <br /> machine parts and components for diesel engine fuel injector systems, tubochargers and <br /> air compressors for trucks. Mr. Jordan indicated that the new equipment will create <br /> additional machine capacity that will allow Exacto to meet increased customer demand. <br /> The estimated total cost of the new equipment is $600,000. <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 Pfeifer made a motion to adopt this <br /> Resolution. Councilmember Kelly seconded the motion which carried and the Resolution <br /> was adopted by a roll call vote of nine(9) ayes. <br /> RESOLUTION NO. 3361-04 A RESOLUTION CONFIRMING THE <br /> ADOPTION OF A DECLARATORY <br /> RESOLUTION DESIGNATING CERTAIN <br /> AREAS WITHIN THE CITY OF SOUTH <br /> BEND, INDIANA, COMMONLY KNOWN AS <br /> 2820 VIRIDIAN DRIVE AN ECONOMIC <br /> REVITALIZATION AREA FOR PURPOSES OF <br /> A <br /> FIVE (5)YEAR PERSONAL PROPERTY TAX <br /> ABATEMENT FOR MACK TOOL& <br /> ENGINEERING, INC. <br /> WHEREAS, the Common Council of the City of South Bend, Indiana has adopted <br /> a Declaratory Resolution designating certain areas within the City as Economic <br /> Revitalization Areas for the purpose of tax abatement consideration; and, <br /> WHEREAS, a Declaratory Resolution declared an area commonly known as 2820 <br /> Viridian Drive, South Bend, Indiana, and which is more particularly described as follows: <br /> A part of the Southeast Quarter of Section 28, Township 38 North, <br /> Range 2 East, of the Second Principal Meridian, City of South Bend, St. <br /> Joseph County, Indiana and described as follows: <br /> Commencing at the Northeast corner of the Southeast Quarter of said <br /> Section 28, said point being at the intersection of Bendix and Boland <br /> Drives; thence South 89°58'56" West (bearing assumed) along the <br /> Southerly right-of-way line of Boland Drive 1242.51 feet to the Point of <br /> Beginning; thence South 00°21'33" West, 293.00 feet; thence South <br /> 89°58'56" West, 260.00 feet; thence North 00°21'33" East, 293.00 feet; <br /> thence North 89°58'56" East, 260.00 feet to the Point of Beginning and <br /> containing 1.75 acres, more or less; and is subject to all easements, <br /> restrictions and/or covenants of record. <br /> 10 <br />