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REGULAR MEETING <br />JUNE-8� 1998 <br />designation is for personal property tax abatement only and shall <br />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 <br />property owner is qualified for and is granted property tax <br />deduction for a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to <br />cause notice of the adoption of this Declaratory Resolution to be <br />published pursuant to Indiana Code 5 -3 -1, said publication <br />providing notice of the public hearing before the Common Council <br />on said declaration. <br />SECTION VII. This resolution shall be in full force and <br />effect from and after its adoption by the Common Council and <br />approval by the Mayor. <br />/s/ Sean Coleman <br />Member of the Common Council <br />A public hearing was held on the resolution at this time. <br />Council Member Kelly reported that the Community and Economic <br />Development Committee had met on this resolution and recommended <br />it to the Council favorable. Steve Thomas, president of Syscon, <br />made the presentation for the resolution. He advised they design <br />manufacture and sell instrumentation and tooling for the <br />electronics, plastics and iron and steel industries. He reported <br />that this project involves the purchase of equipment to be used <br />in special tooling products, at a cost of $328,300. Council <br />Member Hosinski made a motion to adopt this resolution, seconded <br />by Council Member Varner. The resolution was adopted by a roll <br />call vote of nine ayes. <br />RESOLUTION NO. 2631 -98 A RESOLUTION OF THE COMMON COUNCIL OF <br />THE CITY OF SOUTH BEND DESIGNATING <br />CERTAIN AREAS WITHIN THE CITY OF SOUTH <br />BEND, INDIANA, COMMONLY KNOWN AS LOTS <br />NO. 10 AND NO. 11 OF THE H.G. BAUS <br />INDUSTRIAL CENTRE AN ECONOMIC <br />REVITALIZATION AREA FOR PURPOSES OF A <br />TEN (10) YEAR REAL PROPERTY TAX <br />ABATEMENT FOR SGW REALTY LLC /EXCEL <br />INDUSTRIES, INC. <br />WHEREAS, a petition for real property tax abatement has been <br />filed with the City Clerk for consideration by the Common Council <br />of the City of South Bend, Indiana requesting that the area <br />commonly known as Lots No. 10 and No. 11 of the H.G. Baus <br />Industrial Centre, South Bend, Indiana, and which is more <br />particularly described as follows: <br />A part of the Southeast Quarter (SE 1/4) of Section 20 and <br />part of the Southwest Quarter (SW 1/4) of Section 21, Township 38 <br />North, Range 2 East, situate in German Township, St. Joseph <br />County, State of Indiana, and being more particularly described <br />as follows: <br />Lots numbered ten (10) and eleven (11) as shown on the <br />recorded plat of H.G. Baus Centre - Phase One, recorded March 16, <br />1995, as document Numbered 9507104 in the Office of the Recorder <br />of St. Joseph County, Indiana. <br />and which has Key Number 25 1010 036101 and 25 1010 036102, be <br />designated as an Economic Revitalization Area under the <br />provisions of Indiana Code 6 -1.1- 12.1 -1 et. seq. and South Bend <br />Municipal Code Sections 2 -76 Et Seq. <br />Whereas, the Department of Economic Development has <br />concluded an investigation and prepared a report with information <br />