12-09-91 Council Meeting Minutes

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>74E 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 expected to result from the proposed installation of new manufacturing equipment; (c) the estimate of the annual salaries of those individuals who will 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 Statement 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 abatement and hereby makes such a designation, 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 IX. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. DONALD NIEZGODSKI Member of the Common Council A public hearing was held on the resolution at this time. Council Member Luecke reported the Human Resources Committee had met on this bill and recommended it to the Council favorable. Dick Parker, a representative of Aquarius Tool and Mold, Inc., made the presentation for the bill. He indicated they were planning an expansion of the facilities. Council Member Luecke made a motion to adopt this resolution, seconded by Council Member Zakrzewski The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1906 -91 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1400 RIVERSIDE DRIVE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR LOCK JOINT TUBE MODERNIZATION PROJECT 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 2400 Riverside Dr., South Bend, Indiana, and which is more particularly described as follows: Beginning at the Southeast corner of the Southwest 1/4 of said Section 35; thence South 89 49' 52" West (bearing assumed) along the South line of said Section, 308.97 feet; thence North 89 55' 00" West 116.24 feet; thence North 00 00'27" West, 12.00 feet to the North line of a 12 foot alley; thence North 89 55'00" West along said North line of alley, 236.61 feet to a point 120.00 feet South 89 5'00" East of the East line of Kessler Boulevard, 128.00 feet to a point on the South line of King Street, 180.00 feet South 89 55' 18" East of the Northeast corner of Lot 10 as shown on the Second Plat of Northwest Addition to the city of South Bend recorded April 6, 1906 in Plat Book 0, pages 30 and 31; thence South 89 55118" East along the South line of King Street, 352.84 feet; thence North 00 00'27" West, 194.85 feet to a point on the centerline of the East and West 14 foot alley between the centerline of the east and West 14 foot