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04-28-92 Council Meeting Mniutes
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04-28-92 Council Meeting Mniutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
4/28/1992
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X38 <br />9 <br />u � ' <br />described be designated an Economic Revitalization Area and hereby adopts a <br />resolution designating this area as an Economic Revitalization Area for purposed of <br />real property tax abatement. <br />Section V. The designation as an Economic Revitalization area shall be limited <br />to two (2) calendar years from the date of the adoption of this Resolution by the <br />Common Council. <br />Section VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of Ten (10) years. <br />Section VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be <br />published, said publication providing notice of the public hearing before the Common <br />Council on the proposed confirming of said declaration. <br />Section VIII. This Resolution shall be in full force and effect from and after <br />its adoption by the Common Council and approval by the Mayor. <br />/s/ Stephen Luecke <br />Member of the Common Council <br />RESOLUTION NO. 1939 -92 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND <br />DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND <br />COMMONLY KNOWN AS 515 W. IRELAND, SOUTH BEND, INDIANA, AN <br />ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR <br />PERSONAL PROPERTY TAX ABATEMENT FOR TORO SOUTH BEND <br />MANUFACTURING <br />WHEREAS, a petition for personal property tax abatement consideration has been <br />filed with the Common Council of the City of South Bend, requesting that the area <br />commonly known as 515 W. Ireland, South Bend, Indiana, and which is more <br />particularly described as follows: <br />SE 1/4, NE 1/4 except SE and NE corners, section 26- 37 -2E, 26,592 acres. <br />and this property has Key Number 23 1013 0758, and 23 351232 56154, be designated as <br />an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1, <br />et seq., and South Bend Municipal Code Sections 2 -76 et seq.; and <br />WHEREAS, the Department of Economic Development has concluded an investigation <br />and prepared a report with information sufficient for the Common Council to <br />determine that the area qualifies as an Economic Revitalization Area under Indiana <br />Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Sections 2 -76 et seq., <br />and has further prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br />WHEREAS, the Human Resources and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area <br />qualifies as an Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the COMMON COUNCIL of the City of South Bend, <br />Indiana, as follows: <br />Section I. The Common Council hereby determines and finds pursuant to Indiana <br />Code 6- 1.1712.1 -4.5, that; <br />(a) the estimate of the cost of the new manufacturing equipment is reasonable <br />for equipment of that type; <br />(b) the estimate of the number of individuals that will be expected to result <br />from the proposed installation of new manufacturing equipment; <br />(c) the estimate of the annual salaries of those individuals who will be <br />reasonably expected to result from the proposed installation of new equipment; <br />(d) any other benefits about which information was requested are benefits that <br />can be reasonably expected to result from the proposed installation of new <br />manufacturing equipment; and <br />(e) the totality of benefits is sufficient to justify the deduction requested. <br />SECTION II. The Common Council hereby determines and finds that the proposed new <br />manufacturing equipment can be reasonably expected to yield the benefits identified <br />in the Statement of Benefits as set forth in Section 1 through 3 of the Petition for <br />Personal Property Tax Abatement Consideration and that the Statement of Benefits <br />Form completed by the Petitioner, said form being prescribed by the State Board of <br />Accounts, are sufficient to justify the deduction granted under Indiana Code <br />6 -1.1- 12.1 -4.5. <br />SECTION III. The Common Council hereby accepts the report and recommendation of <br />the Department of Economic Development, and the Human Resources and Economic <br />development Committee's favorable recommendation, that the area herein described be <br />designated as Economic Revitalization Area for purposes of personal property tax <br />
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