05-24-04 Council Meetng Minutes - Laserfiche WebLink

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REGULAR MEETING MAY 24, 2004 additional $560,000.00 for the purchase of the land. The project will create 25 to 30 new, permanent jobs within the first year, representing a new annual payroll of $612,000.00 to $735,000.00 and will maintain 213 existing permanent full time jobs and 15 existing permanent part-time jobs with an annual payroll of $7,100,000.00. The estimated annual salary for each new job is $24,500.00. 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 Kelly made a motion to adopt this Resolution. Councilmember Varner seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 3331 -04 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3902 W. SAMPLE STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR HUBBELL, INCORPORATED (DELAWARE) WHEREAS, a petition for personal property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 3902 W. Sample Street, South Bend, Indiana, and which is more particularly described as follows: Irregular Tract 830.8' on Sample St. NW NE Sec 16- 37 -37 -2E 18.25 AC M or L And which has Key Number 18- 8112 -4203 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et sue., and South Bend Municipal Code Sections 2 -76 et seq., and; WHEREAS, the Department of Community and Economic Development has concluded an 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 sM., and South Bend Municipal Code Sections 2 -76 et seq., and; WHEREAS, the Department of Community and Economic Development has concluded an 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 sue., and South Bend Municipal Code Sections 2 -76 et seq., 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 se . that: a. The estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; 12