09-27-99 Council Meeting Minutes

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REGULAR MEETING SEPTEMBER 27, 1999 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 this Resolution and sends it to the Council with a favorable recommendation. Mr. Philip J. Faccenda, Jr., Barnes & Thornburg, 6001" Source Center, 100 North Michigan Street, South Bend, Indiana, made the presentation for this Resolution on behalf of the Petitioners, Lock Joint Tube, Inc.. Mr. Faccenda informed the Council that Mr. Bob Strzelecki, Controller for Lock Joint Tube was also present to answer any questions the Council may have. Mr. Faccenda noted that this is one (1) of three (3) tax abatements which Lock Joint has. requested for Phase I of expansion projects at their two (2) locations. The five (5) year personal property tax abatement for the facility located at 515 West Ireland Road, is for new equipment. This facility produces three inch (3 ") steel tubing for the automotive industry and they would like to purchase a new high speed mill line and related equipment with an estimated cost of between $2.5 and $3.5 million dollars in order to increase capacity. A Public Hearing was held on this Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Hosinski made a motion to adopt this Resolution. Councilmember Aranowski seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 2791 -99 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1215 SOUTH WALNUT STREET, SOUTH BEND, INDIANA AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR LOCK JOINT TUBE, INC. /KEYCORP CAPITAL LEASING /STEEL WAREHOUSE CO. INC. RESOLUTION NO. 2792 -99 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1215 SOUTH WALNUT ROAD, SOUTH BEND, INDIANA AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR STEEL WAREHOUSE CO. INC. C/O LOCK JOINT TUBE, INC. 1