Laserfiche WebLink
REGULAR MEETING <br />JULY 26, 1999 <br />and the point of beginning; thence North 0 °00'23" East a distance of 366.65 feet; <br />thence North 89 °48'06" East a distance of 260.00 feet; thence South 0 °00'23" West <br />a distance of 361.04 feet to the North boundary of said McGill Street; thence <br />Southwesterly along said boundary 156.61 feet along an arc to the right having a <br />radius of 1874.86 feet and subtended by a long chord having a bearing of South <br />80 °48'36" West and a length of 156.43 feet; thence North 89 °59'37" West along said <br />boundary a distance of 103.57 feet to the point of beginning, later to be known as Lot <br />One (1) McGill Street First Minor Subdivision. <br />(more commonly known as 3601 West McGill, South Bend, Indiana, 46628) together <br />with the improvements and fixtures located thereon <br />and which has Key Number 25- 1010 - 0385.14, be designated as an Economic Revitalization Area <br />under the provisions of Indiana Code 6 -1.1 -12.1 et sea., 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 se g., <br />and South Bend Municipal Code Sections 2 -76, et sea., and has further prepared maps and plats <br />showing the boundaries and such other information regarding the area in question as required by law; <br />and <br />WHEREAS, the Community and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area qualifies <br />as an 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. sea., 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 />Department of Community and Economic Development, and the Community and Economic <br />1 <br />U <br />1 <br />