10-26-92 Council Meeting Minutes

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REGULAR MEETING OCTOBER 26, 1992 A public hearing was held on the resolution at this time. Council Member Kelly reported that the Human Resources Committee had met on these resolutions and recommended them to the Council favorable. Jim Ongley, Vice President of Accuride, made the presentation for the resolution. He indicated they had searched for twelve months to select a new site. He indicated it was through the efforts of Project Future they selected South Bend. He indicated they planned to build a facility on 22.5 acres of land. He indicated the company will manufacture ball bearing drawer slides. Kevin Hughes, Project Future, spoke in favor of this abatement. Council Member Coleman made a motion to adopt Bill No. 92 -72, seconded by Council Member Duda. The bill was adopted by a roll call vote of nine ayes. Council Member Zakrzewski made a motion to adopt Bill No. 92 -73, seconded by Council Member Coleman. The bill was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1981 -92 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 110 SOUTH HILL AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX (6) YEAR REAL PROPERTY TAX ABATEMENT FOR MAS TECHNOLOGY CORP. Whereas, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 110 South Hill, 4 adjacent lots in South Bend, and which is more particularly described as follows: Lowell Lowell Key Number 18 -501 10207 18 -501 10308 18 -501 10209 18 50110210 28 50220321 12 ft Cotrells 1st Addition to Legal Description W 1/2 Lot 171 Cottrells 1st to Lowell 40 ft End 81 1/2 Ft. E End Lot 171 1st to 42 1/2 ft E End lot 1272 Cottrells 1st to Lot 172 Cottrells 1st to Lowell 49 1/2 ft West end Lots 177 & 178 EX South Lowell be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Sections 2 -76 et seq.; and WHEREAS, the Department of Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Sections 2 -76, et seq., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and Whereas, the Human resources and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. 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 that the petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of I.C. 6 -1.1- 12.1 -1 et seq., and qualifies under the provisions of South Bend Municipal Code Section 2 -76 et seq., for tax abatement. Section II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development. B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment of rehabilitation: D. That 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 redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the deduction, all of which satisfy the requirements of I.C. 6 -1.1- 12.1 -3.