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REGULAR MEETING <br />NNE 10, 1996 <br />SECTION III. The Common Council hereby accepts the report <br />and recommendation of the Department of Economic Development, and <br />the Human Resources and Economic Development Committee's <br />favorable recommendation, that the area herein described be <br />designated as Economic Revitalization Area for purposes of <br />personal property tax deduction for a period of five (5) years. <br />SECTION IV. The Common Council determines that such <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/ Roland Kelly <br />Member of the Common Council <br />A public hearing was held on the resolutions at this time. <br />Council Member Coleman reported that the Community and Economic <br />Development Committee had met on this bill and recommend it to <br />the Council favorable. Ernest Szarwark, attorney, made the <br />presentation for the resolutions. He indicated the petitioner <br />plans to build a manufacturing facility on 11.2 acres in the <br />Blackthorn Development, which will be a state of the art finance <br />and commercial printing facility, at a cost of $4 million. He <br />indicated the equipment is estimated to cost $20 million. He <br />reported that company would employ 200 people. Council Member <br />Coleman made a motion to adopt Resolution No. 2365 -96, seconded <br />by Council Member Zakrzewski. The resolution was adopted by a <br />roll call vote of nine ayes. Council Member Coleman made a <br />motion to adopt Resolution No. 2366 -96, seconded by Council <br />Member Luecke. The resolution was adopted by a roll call vote of <br />nine ayes. <br />Council Member Coleman made a motion to combine public hearing on <br />the next two resolutions, seconded by Council Member Luecke. The <br />motion carried. <br />RESOLUTION NO. 2367 -96 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 LOT <br />594, VERNON HEIGHTS ADDITION AS <br />RESIDENTIALLY DISTRESSED AREAS FOR <br />PURPOSES OF A FIVE (5) YEAR REAL <br />PROPERTY RESIDENTIAL TAX ABATEMENT FOR <br />VALUE PLUS CONSTRUCTION, INC. <br />WHEREAS, a Statement of Benefits and a petition for real property <br />tax abatement has been submitted to and filed with the City Clerk <br />for consideration by the Common Council of the City of South Bend, <br />Indiana requesting that the areas commonly known as Lot 594 Vernon <br />Heights Addition, South Bend, Indiana, and which are more <br />particularly described as follows: <br />LOT 594 VERNON HEIGHTS ADDITION <br />