10-11-99 Council Meeting Minutes

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REGULAR MEETING OCTOBER 11, 1999 designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Personal Property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Personal Property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et sea. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. s /Sean Coleman Member of the Common Council Mr. Philip J. Faccenda, Jr., Barnes & Thornburg, 600 ls` 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 noted that this is a five (5) year personal property tax abatement for the facility at Ireland Road which manufactures steel tubing for the automobile industry. It is anticipated that they will purchase a new high -speed mill. Mr. Faccenda further noted that it is anticipated that two (2) to five (5) new employees will be added for an estimated payroll of forty -one thousand six hundred dollars ($41,600) a year to one hundred twenty -four thousand eight hundred dollars ($124,800) a year. 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 Varner seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 2797 -99 A RESOLUTION CONFIRMING THE ADOPTION OF A (BILL NO. 99 -99) DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1215 SOUTH WALNUT STREET, SOUTH BEND, INDIANA, TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR LOCK JOINT TUBE, INC./KEYCORP. CAPITAL LEASING /STEEL WAREHOUSE CO., INC. RESOLUTION NO. 2798 -99 A RESOLUTION CONFIRMING THE ADOPTION OF A (BILL NO. 99 -100) DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1215 SOUTH WALNUT STREET, SOUTH BEND, INDIANA, TO BE 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. Councilmember Kelly made a motion to combine Bill Nos. 99 -99 and 99 -100 for purposes of