02-23-98 Council Meeting minutes

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REGULAR MEETING FEBRUARY 23, 1998 E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the requested deduction; all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits set forth as Sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of three (3) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. 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 A public hearing was held on the resolution at this time. Council Member Sniadecki reported that the Community and Economic Development Committee had met on this bill and recommended it to the Council favorable. Dan Kovas, owner, made the presentation for the resolution. He reported that during the last eighteen years they have expanded their business to the point where they need to build a facility in order to consolidate principal operations which include sales, distribution, installation, servicing, preparation, alteration, fabrication and repairs of overhead doors. Council Member Kelly made a motion to adopt this resolution, seconded by Council Member Hosinski. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 2567 -98 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1400 RIVERSIDE DRIVE, SOUTH BEND, INDIANA, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR EXPANDED METAL COMPANY OF INDIANA LLC WHEREAS, a petition for personal property tax abatement