09-25-95 Council Meeting Minutes

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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 (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 Department of Economic Development, and the Human Resources and Economic opment Committee's favorable recommendation, that the area herein described be nated as Economic Revitalization Area for purposes of personal property tax tion 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 ified 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/ Eugene Ladewski Member of the Common Council A public hearing was held on the resolution at this time. Council Member Kelly reported that the Community and Economic Development Committee had met on this bill and recommended it to the Council favorable. Mike Keener, made the presentation for the resolution. He indicated they were requesting this abatement to purchase equipment in order that can maintain a competitive edge in the commercial printing market. He indicated the cost of the equipment would be $183,000 and they will create two new permanent jobs. Council Member Zakrzewski made a motion to adopt this resolution, seconded by Council Member Washington. The resolution was adopted by a roll call vote of seven ayes. RESOLUTION NO. 2282 -95 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 814 S. MAIN, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR SCHAFER GEAR WORKS, INC. WHEREAS, a petition for personal property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 814 S. Main, South Bend, Indiana, and which is more particularly described as follows: PARCEL I: All of the Numbered One Hundred Nine (109) and One Hundred Ten (110) as shown on the recorded Plat of Daniel Garst's Subdivision of a part of his 1st addition to South Bend City, now a part of the City of South Bend. PARCEL II: All of Lots Numbered Two Hundred fifty -seven (257) and Two Hundred Fifty -eight (258) as shown on the recorded Plat of Daniel Garst's Subdivision of a part of his 1st addition to the South Bend City, now within and a part of the City of South Bend. PARCEL III: All of Lots Numbered Two Hundred Eleven (211) and Two Hundred Twelve (212) as shown on the recorded Plat of Daniel Garst's 1st addition to the South Bend City, now within and a part of the City of South Bend. PARCEL IV: Beginning at the Northwest corner of Lot Two Hundred Twenty (220) in Garst's First addition to South Bend City now within and a part of the City of South Bend, Indiana, as recorded in plat Book 3, page 41 in the Office of the Recorder of St. Joseph County, Indiana, said beginning point being the intersection of the South line of said vacated 14 foot alley with the East right -of -way line of Main Street as now exist: thence north 0 degrees 00100" East (bearing assumed) along said right -of- way line of Main Street, a measured distance of 52.13 feet to the South line of the North 30.00 feet of said Lot Two Hundred Sixty (260); thence North 89 degrees 57140"