10-23-95 Council Meeting Minutes

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the deduction granted under Indiana Code 6 -1.1- 12.1 -3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of ten (10) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. 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 resolutions at this time. Council Member Kelly reported that the Community and Economic Development Committee have met on this bill and recommended it to the Council favorable. Jack Alexander, 53260 Juday Creek, president of Molding Products Division, made the presentation. He indicated they were expanding their facility and purchasing new equipment in order to be competitive in the sheet molding compound business. He indicated they will employ 23 additional employees. Council Member Washington made a motion to adopt Resolution No. 2292 -95, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of eight ayes. Council Member Washington made a motion to adopt Resolution No. 2293- 95, seconded by Council Member Luecke. The resolution was adopted by a roll call vote of eight ayes. RESOLUTION NO. 2294 -95 A RESOLUTION AMENDING RESOLUTIONS NO. 2251 -95 AND NO. 2247- 95 TO REPLACE THE SOUTH BEND REDEVELOPMENT COMMISSION ON BEHALF OF ABSORBTECH, LLC WITH THE SOUTH BEND REDEVELOPMENT COMMISSION ON BEHALF OF AT OF INDIANA, LLC AS THE NAMED PROPERTY OWNER FOR REAL PROPERTY TAX ABATEMENT PURPOSES. WHEREAS, the Common Council of the City of South Bend, Indiana, has duly adopted a Declaratory Resolution No. 2247 -95, designating as an Economic Revitalization Area for the purpose of real property tax abatement, the area commonly known as 3900 West William Richardson Drive, South Bend, indiana (as more particularly described therein, the "Property "); and WHEREAS, the Council thereafter duly adopted Confirming Resolution No. 2251 -95 granting a six year real property tax abatement for the Property in the name of Absorbtech, LLC; and WHEREAS, at the time of its application for real property tax abatement, the applicant had made only a preliminary choice of entity and applicant has submitted documentation evidencing that it has organized as and hold title to the Property as AT of Indiana, LLC; and WHEREAS, it is the desire of the Common Council to correct Declaratory Resolution and the Confirming Resolution to reflect the correct name of the Property owner; SECTION I. The Common Council hereby confirms that AT of Indiana, LLC shall receive the real property tax deduction with respect to the Property for a period of six (6) years. SECTION II. The Common Council hereby amends Resolutions No. 2247 -95 and No. 2251 -95 by striking the words Absorbtech, LLC wherever they appear therein and substituting in lieu thereof the words "AT of Indiana LLC". 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/ 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. Peter Trybula, attorney, made the presentation for the resolution. He indicated Resolution No. 2251 -95 was passed in July of 1995, and since then Absortech has formed a holding company, L.L.C. and this would amend the resolution to reflect this change. Council Member Coleman made a motion to adopt this resolution, seconded by Council Member Washington. The resolution was adopted by a roll call vote of eight ayes. RESOLUTION NO. 2295 -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 3900 WEST WILLIAM RICHARDSON DRIVE AN