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REGULAR MEETING <br />APRIL 23, 2001 <br />COMMONLY KNOWN AS 1827 NORTH BENDIX DRIVE <br />AN ECONOMIC REVITALIZATION AREA FOR <br />PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY <br />TAX ABATEMENT FOR SOLVAY AUTOMOTIVE <br />PLASTICS & SYSTEMS, INC. <br />WHEREAS, a petition for personal property tax abatement consideration has been filed with <br />the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, <br />requesting that the area commonly known as 1827 North Bendix Drive, South Bend, Indiana, and <br />which is more particularly described as follows: <br />A parcel of land being part of the Northeast Quarter of the Southeast <br />Quarter of Section 33, Township 38 North, Range 2 East, in the City <br />of South Bend, Portage Township, St. Joseph County, Indiana <br />and which has Key Number 18- 2184 - 6938.02, be designated as an Economic Revitalization Area <br />under the provisions of Indiana Code 6 -1.1 -12.1 et seg., and South Bend Municipal Code Sections <br />2 -76 et sea., and; <br />WHEREAS, the Department of Community and Economic Development has concluded an <br />investigation and prepared a report with information sufficient for the Common Council to determine <br />that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1 -12.1, et sea., and <br />South Bend Municipal Code Sections 2 -76, et sea •, and has further prepared maps and plats showing <br />the boundaries and such other information regarding the area in question as required by law; and <br />WHEREAS, the Community and Economic Development Committee of the Common Council <br />has reviewed said report and recommended to the Common Council that the area qualifies as an <br />Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds pursuant to Indiana Code <br />6- 1.1- 12.1 -4.5 et. seg., that: <br />a. The estimate of the cost of the new manufacturing equipment is reasonable for <br />equipment of that type; <br />b. That the estimate of the number of individuals that will be employed or whose <br />employment will be retained by the Petitioner can reasonably be expected to result <br />from the proposed installation of new manufacturing equipment; <br />C. That the estimate of the annual salaries of those individuals that will be employed or <br />whose employment will be retained by the Petitioner can be reasonably expected to <br />result from the proposed installation of new manufacturing equipment. <br />d. Any other benefits about which information was requested are benefits that can be <br />reasonably expected to result from the proposed new manufacturing 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 proposed new <br />manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement <br />of Benefits as set forth in Section 1 through 3 of the Petition for Personal Property Tax Abatement <br />Consideration and that the Statement of Benefits form completed by the petitioner, said form being <br />prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under <br />Indiana Code 6 -1.1- 12.1 -4.5. <br />SECTION III. The Common Council hereby accepts the report and recommendation of the <br />r- <br />I <br />