06-23-97 Council Meeting Minutes

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REGULAR MINUTES JUNE 23, 1997 employment will be retained can be reasonably expected to result from the proposed installation of new equipment; (d) any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed installation of new manufacturing equipment; and (e) the totality of benefits is sufficient to justify the deduction requested. SECTION II. The Common Council hereby determines and finds that the proposed new manufacturing equipment can be reasonably expected to yield the benefits identified in the State of Benefits as set forth in Section 1 through 3 of the Petition for Personal Property Tax Abatement Consideration and that the Statement of Benefits form completed by the Petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code 6- 1.1 -12.1- 4.5. SECTION III. The Common Council hereby accepts the report and recommendation of the Department of Economic Development, and the Human Resources and Economic Development Committee's favorable recommendation, that the area herein described be designated as Economic Revitalization Area for purposes of personal property tax deduction for a period of five (5) years. SECTION IV. The Common Council determines that such designation is for personal property tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution to be published pursuant to Indiana Code 5 -3 -1, said publication providing notice of the public hearing before the Common Council on said declaration. SECTION VII. This resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s/ Roland Kelly Member of the Common Council A public hearing was held on the resolution at this time. Council Member Broden reported that the Community and Economic Development Committee had met on this bill and had no recommendation, since the petitioner did not attend the committee meeting. He made a motion to amend this resolution to delete the comma and the word "and" in the second whereas clause, and place a period after the word law; remove the third whereas clause; and in Section III remove "and the Community and Economic Development Committee's favorable recommendation, ", seconded by Council Member Sniadecki. The motion carried.` Ben Crocker, plant manager, made the presentation for the resolution. He indicated their project consists of the purchase of vacuum furnaces. He reported they need this new equipment in order to remain competitive. He advised that this company had been in business in South Bend since 1982. Ann Kolata, Deputy Council Member, spoke in favor of this abatement. Council Member Coleman made a motion to adopt this resolution, seconded by Council Member Broden. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 2472 -97 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING 1 1