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REGULAR MEETING DECEMBER 13. 1999 <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 /Sean Coleman <br />Member of the Common Council <br />Councilmeniber Kelly reported that the Community & Economic Development Committee met on <br />this Resolution and sends it to the Council with a favorable recommendation. <br />Mr. Michael S. Rink, President, Rink Riverside Printing, Inc., 814 South Main Street, South Bend, <br />Indiana, residing at 15467 Tabor Hill Ct., Granger, Indiana, made the presentation for this <br />Resolution. <br />Mr. Rink stated that personal property tax abatement is requested for property acquisition. <br />Rink Riverside Printing, Inc. is a commercial printer serving advertising agencies and the local <br />manufacturing sector with printed literature needs. Their project calls for the acquisition of a new <br />six (6) color forty foot (40') Komori Lithrone offset printing press a two (2) color twenty -eight foot <br />(28') Komori Sprint offset press and a new Fuji Sumo 8 -up recording device and scanner. The <br />estimated cost of the equipment is two million two hundred thousand dollars ($2,200,000.00). It is <br />estimated that the project will create six (6) new permanent jobs within the first year representing <br />anew annual payroll of one hundred eighty thousand dollars ($180,000.00) and will maintain thirty - <br />five (3 5) existing permanent full -time jobs and no part-time jobs representing an annual payroll of <br />one million one hundred thousand dollars ($1,100,000.00). In conclusion, he noted that Rink <br />Riverside Printing is moving into the building formerly occupied by Shaffer Gear Works. <br />A Public Hearing was held on the 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 Hosinski made a motion to adopt this Resolution. Councilmember <br />Sniadecki seconded the motion which carried and the Resolution was adopted by a roll call vote of <br />nine (9) ayes. <br />BILL NO. 99-126 A RESOLUTION OF THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND TERMINATING THE TEN (10) <br />YEAR REAL PROPERTY TAX ABATEMENT FOR <br />BANGOR REFRIGERATION CORPORATION (NOW <br />KNOWN AS KYSOR/WARREN) <br />Councilmember Kelly made a motion that this bill be continued until the January 24, 2000 meeting <br />of the Council. Councilmember Varner seconded the motion which carried by a voice vote of nine <br />(9) ayes. <br />RESOLUTION NO. 2821 -99 A RESOLUTION OF THE CITY OF SOUTH BEND TO <br />PROVIDE SOME PENSION RELIEF TO CITY <br />EMPLOYEES, INCLUDING MEMBERS OF THE POLICE <br />OFFICERS AND FIREFIGHTERS' PENSION AND <br />DISABILITY FUND <br />