06-22-98 Council Meeting Minutes

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REGULAR MEETING JUNE 22, 1998 V. A part of NE 1/4 & SE 1/4 of sec. 19- T38N -R23 & a part of NW 1/4 & SW 1/4 of section 20- T38N -R2E, German Township, City of South Bend. with said real estate having the following Key No. 18- 1018 -0622 an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6- 1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of ten (10) 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- 12.1 et sea. SECTION III. 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. William Panzica, 422 E. Monroe, made the presentation for the resolution. He indicated they plan to construct an office facility for Associates. He reported that this construction will maintain ninety -five full time jobs. Council Member Hosinski made a motion to adopt this resolution, seconded by Council Member Aranowski. The resolution was adopted by a roll call vote of eight ayes. RESOLUTION NO. 2638 -98 A RESOLUTION OF THE CITY OF SOUTH BEND COMMON COUNCIL, PROVIDING PRELIMINARY APPROVAL OF THE ISSUANCE OF ECONOMIC DEVELOPMENT REVENUE BONDS TO FINANCE CERTAIN ECONOMIC DEVELOPMENT FACILITIES - SGW REALTY, LLC (BLACKTHORN DEVELOPMENT AREA) SGW Realty LLC, an Indiana limited liability company (the "Applicant ") desires to finance the acquisition, construction and equipping of an approximate 100,000 square foot manufacturing facility locate din the Blackthorn Development Area on Nimtz Parkway, for lease to Schafer Gear Works, Inc. To induce Applicant to proceed with such project, the Common Council desires to adopt this resolution. NOW, THEREFORE, BE IT RESOLVED.BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: