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REGULAR MEETING APRIL 12, 1999 <br />WESTMOOR STREET TO BE AN ECONOMIC <br />REVITALIZATION AREA FOR PURPOSES OF A FIVE <br />(5) YEAR PERSONAL PROPERTY TAX ABATEMENT <br />FOR AIRCRAFT LANDING SYSTEMS, <br />ALLIEDSIGNAL, INC. <br />WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a <br />Declaratory Resolution designating certain areas within the City as Economic Revitalization <br />Areas for the purpose of tax abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly known as 3520 <br />Westmoor Street and which is more particularly described as follows: <br />NESE 4 37 2E TRACT 2, CONT 39.32 AC <br />and which has Key Number 18- 2193 -7255, as an Economic Revitalization Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing <br />before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrances and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <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 confirms its Declaratory Resolution <br />designating the area described herein as an Economic Revitalization Area for the purposes of tax <br />abatement. Such designation is for Personal Property tax abatement only and is limited to two <br />(2) calendar years from the date of adoption of the Declaratory Resolution by the Common <br />Council. <br />SECTION II. The Common Council hereby determines that the property owner is <br />qualified for and is granted Personal Property tax deduction for a period of five (5) years, and <br />further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of <br />the City of South Bend and Indiana Code 6- 1.1 -12 et sea. <br />SECTION III. This Resolution shall be in full force and effect from and after its adoption <br />by the Common Council and approved by the Mayor. <br />s /Sean Coleman <br />Member of the Common Council <br />A Public Hearing was held on the Resolution at this time. <br />Mr. John Humphrey, Director of Finance, Aircraft Landing Systems, Alliedsignal, Inc., 3520 <br />Westmoor Street, South Bend, Indiana, made the presentation for this Resolution. Mr. <br />Humphrey stated that Alliedsignal, Inc. is investing over forty -five million dollars <br />($45,000,000.00) of new capital equipment over the next two (2) years as part of their expansion <br />project. In association with that expansion, it is expected that twenty (20) additional employees <br />will be hired as well as replacement of those individuals who plan on retiring. Mr. Humphrey <br />asked for the Council's favorable approval of this Resolution. <br />There being no one present wishing to speak to the Council either in favor of or in opposition to <br />this Resolution, Councilmember Kelly made a motion to adopt this Resolution. Councilmember <br />1 <br />1 <br />