01-14-02 Council Meeting Minutes

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REGULAR MEETING JANUARY 14, 2002 WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 4701 Nimtz Parkway and which is more particularly described as follows: A part of the Southeast Quarter (SE1 /4) of Section 20 and part of the Southwest Quarter (SW1 /4) of Section 21, Township 38 North, Range 2 East, situated in German Township, St. Joseph County, State of Indiana, and being more particularly described as follows: Lots numbered ten (10) and eleven (11) as shown on the recorded plat of H.G. Baus Centre -Phase One, recorded March 16, 1995 as document Number 9507104 in the Office of the Recorder of St. Joseph County, Indiana with said real estate having the following Key Number 25 -500- 23829, 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 sea- 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 /Charlotte Pfeifer Member of the Common Council Mr. Stan Blenke, Executive Vice - President, Schafer Gear Works, Inc., 4701 Nimtz Parkway, South Bend, Indiana, made the presentation for this Resolution. Mr. Blenke advised that Schafer Gear Works intends to purchase several new pieces of CNC equipment due to a new customer program that they recently received. The cost of this equipment will be approximately $4.1 million dollars and they will be adding approximately ten (10) to fourteen -5-