11-24-97 Council Meeting Minutes

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REGULAR MEETING of South Bend, requesting that the area West Ireland Rd., South Bend, Indiana, particularly described as follows: NOVEMBER 24, 1997 commonly known as 515 and which is more A parcel of land located in the Southeast Quarter of the Northeast Quarter of Section 26, Township 37 North, Range 2 East, more particularly described as follows: Beginning at a point on the East -West centerline of said Section 26, a distance of 400.00 feet South 90000'00" West (bearing assumed for this survey) of the southeast corner of said Northeast Quarter of Section 26; thence South 90058107" East, along the West line of said Southeast Quarter of the Northeast Quarter, a distance of 996.17 feet to an iron found this survey 314.00 feet South 0058107" West of a stone found this survey which marks the Northwest corner of said Quarter, Quarter Section; thence North 89044'16" East a distance of 1300.60 feet to a point to the East line of said Northeast Quarter 314.00 feet south 10 30'29" West of a stone found this survey which marks the Northeast corner of said Quarter, Quarter Section thence South 1030129" West along the east line of said Northeast Quarter a distance of 602.31 feet; thence South 9000.0'00" West parallel with said East -West centerline a distance of 400.00 feet to an iron found this survey; thence South 1030129" West, parallel with said East line of the Northeast Quarter, a distance of 400.00 feet to the place of beginning. and this property has Key Numbers 23 1013 0758, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1,1- 12.1 -1 et sea., and South. Bend Municipal Code Section 2 -76 et seq.; and WHEREAS, the Department of Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Sections 2- 76 et sea. and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Human Resources and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds pursuant to Indiana Code 6 -1.1- 12.1 -4.5, that: (a) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; (b) the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new manufacturing equipment; (c) the estimate of the annual salaries of those individuals who will be employed or whose 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