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REGULAR MEETING DECEMBER 10, 2001 <br />SECTION IV. The Common Council determines that such designation is for personal <br />property tax abatement only and shall be limited to two (2) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified <br />for and is granted property tax deduction for a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption <br />of this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to <br />Indiana Code 5 -3 -1, said publication providing notice of the public hearing before the Common <br />Council on the proposed confirming of said declaration. <br />SECTION VII. This Resolution shall be in full force and effect from and after its adoption <br />by the Common Council and approval by the Mayor. <br />s /Charlotte Pfeifer <br />Member of the Common Council <br />Councilmember Kelly reported that the Community and Economic Development Committee met <br />on this bill and recommends this Resolution to the Council favorably. <br />Mr. Stanley Blenke, Executive Vice - President, Schafer Gear Works, Inc., 4701 Nimtz Parkway, <br />South Bend, Indiana, made the presentation for this Resolution. <br />Mr. Blenke advised that this project involves the purchase of approximately $4.1 million dollars of <br />new machinery and equipment for new customer business and will create approximately fourteen <br />(14) jobs. <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 opposition to this <br />Resolution, Councilmember Coleman made a motion to adopt this Resolution. Councilmember <br />White seconded the motion which carried and the Resolution was adopted by a roll call vote of nine <br />(9) ayes. <br />RESOLUTION NO. 3053 -01 <br />A RESOLUTION OF THE COMMON COUNCIL <br />OF THE CITY OF SOUTH BEND DESIGNATING <br />CERTAIN AREAS WITHIN THE CITY OF SOUTH <br />BEND, INDIANA, COMMONLY KNOWN AS 400 <br />WEST SAMPLE STREET AN ECONOMIC <br />REVITALIZATION AREA FOR PURPOSES OF A <br />FIVE (5) YEAR PERSONAL PROPERTY TAX <br />ABATEMENT FOR AQM PRODUCTS, 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 400 W. Sample Street, South Bend, Indiana, and which <br />is more particularly described as follows: <br />A tract of land beginning in the Southeast (SE) corner of Sample Street and Vacated <br />Prairie Avenue, containing 14.846 acres ( + -), known as Tract 4, Section 14- 37 -2E. <br />-7- <br />