10-11-99 Council Meeting Minutes

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REGULAR MEETING OCTOBER 11, 1999 qualified for and is granted Real property tax deduction for a period of (insert number of years ( ) 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. se g. 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 1St Source Center, 100 North Michigan Street, South Bend, Indiana, made the presentation for these Resolutions on behalf of the Petitioners, Lock Joint Tube, Inc.. Mr. Faccenda noted that this personal property tax abatement is for finishing equipment for manufacturing of steel tubing. The equipment will cost approximately $1.5 to $2.5 million dollars. The real property tax abatement is for the expansion of the facility on Walnut Street by thirty thousand (30,000) square feet at a cost of approximately eight hundred thousand dollars ($800,000.00). It is anticipated that four (4) to seven (7) new jobs will be created for an annual payroll increase of between eighty three thousand dollars ($83,000.00) to one hundred seventy - five thousand ($175,000.00) a year. A Public Hearing was held on these Resolutions at this time. There was no one present wishing to speak to the Council either in favor of or in opposition to these Resolutions. Councilmember Hosinski made a motion to adopt Resolution No. 2797 -99. Councilmember Varner seconded the motion which cai`ried and the Resolution was adopted by a roll call vote of nine (9) ayes. Additionally, Councilmember Hosinski made a motion to adopt Resolution No. 2798 -99. Councilmember" Arariowski seconded the motion Which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 2799 -99 A RESOLUTION CONFIRMING THE ADOPTION OF A (BILL NO. 99 -101) DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 4401 WEST CLEVELAND ROAD EXTENSION TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR ADAPTO- INDIANA, INC. RESOLUTION NO. 2800 -99 A RESOLUTION CONFIRMING THE ADOPTION OF A (BILL NO. 99 -102) DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 4401 WEST CLEVELAND ROAD EXTENSION TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR CLEVELAND PARTNERS, L.P. Councilmember Hosinski made a motion to combine Bills Nos. 99 -101 and 99 -102 for purposes f 1