Laserfiche WebLink
REGULAR MEETING NOVEMBER 8, 1999 <br />SECTION IV. The Common Council determines that such designation is for personal <br />property tax abatement only and shall be limited to two (2) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified <br />for and is granted property tax deduction for a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption <br />of this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to <br />Indiana Code 5 -3 -1, said publication providing notice of the public hearing before the Common <br />Council on the proposed confirming of said declaration. <br />SECTION VII. This Resolution shall be in full force and effect from and after its adoption <br />by the Common Council and approval by the Mayor. <br />s /John Hosinski <br />Member of the Common Council <br />Councilmember Pfeifer made motion to hear the substitute version of this Resolution. <br />Councilmember King seconded the motion which carried by a voice vote of six (6) ayes. <br />Councilmember King reported that the Community & Economic Development Committee met on <br />this Resolution and sends it to the Council with a favorable recommendation. <br />Mr. Rick McKeel, Vice - President, Finance, P.O. Box 71,324 E. Dewey, Buchanan, Michigan, made <br />the presentation for this Resolution. <br />Mr. McKeel stated that New Carbon Company, Inc. is a manufacturer of Golden Malted Pancake <br />and Waffle Flour products and commercial Waffle Bakers. The company is transferring <br />approximately sixty thousand dollars ($60,000.00) of equipment from their Buchanan location to <br />the William Richardson Drive location. This includes drill presses, sand blasters, ovens, materials <br />handling equipment, office furniture and fixtures and all other related equipment. In addition, the <br />company is projecting to purchase between two hundred thousand dollars ($200,000.00) to three <br />hundred thousand dollars ($300,000.00) of new equipment. It is estimated that the project will <br />create five (5) to eight (8) new permanent jobs, representing a new annual payroll of two hundred <br />thousand dollars ($200,000.00) to three hundred thousand dollars ($300,000.00) per year and will <br />maintain twenty -seven (27) existing jobs representing an annual payroll of eight hundred forty -four <br />thousand nine hundred five ($844,905.00). Mr. McKeel concluded by stating that they are excited <br />about the growth and development of the business in South Bend. <br />A Public Hearing was held on this Resolution at this time. <br />There being no one present wishing to speak to the Council either in favor of or in opposition to this <br />Resolution, Councilmember King made a motion to adopt this Resolution as substituted. <br />Councilmember Varner seconded the motion which carried and the Resolution was adopted by a roll <br />call vote of six (6) ayes. <br />RESOLUTION NO. 2812-99 A RESOLUTION OF THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND DESIGNATING CERTAIN <br />AREAS WITHIN THE CITY OF SOUTH BEND, <br />INDIANA, COMMONLY KNOWN AS 2313 WEST <br />EWING AVENUE AS A RESIDENTIALLY DISTRESSED <br />AREA FOR PURPOSES OF A FIVE (5) YEAR <br />RESIDENTIAL REAL PROPERTY TAX ABATEMENT <br />FOR JERRY ZOCK <br />