09-27-99 Council Meeting Minutes

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REGULAR MEETING SEPTEMBER 27, 1999 d. Any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed new manufacturing equipment; and The totality of benefits is sufficient to justify the deduction requested. SECTION II. The Common Council hereby determines and finds that the proposed new manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits as set forth in Section 1 through 3 of the Petition for Personal Property Tax Abatement Consideration and that the Statement of Benefits form completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code 6- 1.1- 12.1 -4.5. SECTION III. The Common Council hereby accepts the report and recommendation of the Department of Community and Economic Development, and the Community and Economic Development Committee's favorable recommendation, that the area herein described be designated as an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes such a designation. SECTION IV. The Common Council determines that such designation is for personal property tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s /Sean Coleman Member of the Common Council Councilmember Kelly reported that the Community and Economic Development Committee met on the substitute version of this Resolution and sends it to the Council with a favorable recommendation. Mr. Bill McGlone, 4516 Hickory Road, Mishawaka, Indiana, made the presentation for this Resolution. Mr. McGlone informed the Council that this request for tax abatement is to purchase sixty thousand dollars ($60,000.00) worth of new equipment in order to bring the machine line up to pace. Mr. McGlone further informed the Council that his company manufactures the amenities utilized by hotels for their customers such a shampoo, body lotion and similar items. Also, they are looking into tanning accelerators utilized by tanning salons. He acknowledged that his business is located in the Sample Street business incubator. A Public Hearing was held on this Resolution at this time. There was no one present wishing to speak to the Council either in favor of or in opposition to this Resolution. Therefore, Councilmember Kelly made a motion to adopt this Resolution as substituted. Councilmember Aranowski seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes.