07-27-92 Council Meeting Minutes

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VA •• I� 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. Stephen Luecke Member of the Common Council A public hearing was held on the resolutions at this time. Gerald Lerman, secretary of Steel Warehouse, made the presentation for the bill. He indicated they proposed to build a facility to accommodate new manufacturing equipment. He indicated the building will cost approximately $1,000,000 and the equipment $4,080,000. He indicated this expansion would be the largest ever for their firm, and will create thirteen new jobs at the start and possibly fifty in the future. Council Member Coleman made a motion to adopt resolution 92 -55, seconded by Council Member Zakrzewski. The resolution was adopted by a roll call vote of nine ayes. Council Member Slavinskas made a motion to adopt resolution No. 92 -56, seconded by Council Member Zakrzewski. The resolution was adopted by a roll call vote of nine ayes. BILLS. FIRST READING BILL NO. 62 -92 A BILL AMENDING THE ZONING ORDINANCE FOR PROPERTY LOCATED AT LOT 36 OF POST PLACE, SOUTH BEND, INDIANA 46634 IN THE CITY OF SOUTH BEND, INDIANA. Council Member Coleman made a motion to refer this bill to Area Plan, seconded by Council Member Duda. The motion carried. UNFINISHED BUSINESS Reports from Area Plan: Bill No. 39 -92 - Amend Code - Residential swimming pools; Bill No. 40 -92 - Rezone Colfax /Frances /Luther Ct.; Bill No. 51 -92 - Rezone 925 W. Washington Street. Council Member Slavinskas made a motion to refer these bills to Zoning and Vacation Committee and set them for public hearing on August 10, seconded by Council Member Duda. The motion carried Council Member Coleman made a motion to refer Bill No. 47 and 48 to the Zoning and Vacation Committee and set it to public hearing on August 10, seconded by Council Member Duda. The motion carried. NEW BUSINESS Council Member Zakrzewski requested Council Members Washington, Luecke and Puzzello