11-12-01 Council Meeting Minutes

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REGULAR MEETING NOVEMBER 12, 2001 Hundred Sixty -Four (164) and One Hundred Sixty -five (165) as shown on the recorded Plat of Samuel L. Cottrell's Addition to the Town of Lowell, now within and a part of the City of South Bend. Part of Lots numbered One Hundred Sixty -Four (164) and One Hundred Sixty -Five (165) as shown on the recorded Plat of Samuel L. Cottrell's Addition to the Town of Lowell, now within and a part of the City of South Bend, described as beginning at a point 36 feet West of the Northeast Corner of said Lot Numbered 164 on the North line of said lot; thence running South 88 feet; thence West 12 feet; thence North 88 feet to the North line of said Lot numbered 164; thence East 32 feet to the place of beginning. (The commonly known addresses of the above properties are: 110 S. Hill Street, 616 East Washington Street, 109 South St. Louis Street, and 524 East Washington Street) and which has Key Numbers 18 -5011- 0307,18 -5011- 0308,18 -5011- 0309,18 -5011- 0310,18 -5011- 0321,18 -5011- 0322,18 -5011- 0322,18 -5011- 0321.01,18 -5010- 0297,18- 5010 -0294, respectively, 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 pursuant to Section 2 -84 of the South Bend Municipal Code finds the ten 10 years is the appropriate and rational time period for this tax abatement in light of the following: 1. The petitioner currently employs over 103 people in the South Bend office and has an annual payroll of over $3.9 million. The petitioner also projects to add as many as 150 new positions to its payroll over the next five years. 2. Environmental Health Laboratories (EHL), in conjunction with Underwriters Laboratories (UL), which is the largest public safety testing company in the world, are dedicated to public safety and to the communities they are a part of. 3. The petitioner cites the enormous costs associated with this project, with total project costs estimated to exceed $7 million. SECTION II. 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 Real 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 Real property tax deduction for a period of ten (10) years, and further determines sm 1 1