11-23-92 Council Meeting Minutes

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447 REGULAR MEETING NOVEMBER 23, 1992 A public hearing was held on the resolution at this time. Council Member Kelly reported that the Human Resources Committee had met on this bill and recommended it to the Council favorable. Mike Kaser, chief financial officer, made the presentation for the bill. He indicated they planned an expansion of warehouse space and shipping docks, at a project cost of $633,030. Council Member Coleman made a motion to adopt this resolution, seconded by Council Member Kelly. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1990 -92 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 2820 VIRIDIAN DRIVE, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR MACK TOOL & ENGINEERING, INC. 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 2020 Viridian Dr. South Bend, Indiana, and which is more particularly described as follows: A tract or parcel of land located in the Southwest Quarter of the Northeast Quarter of Section 33, Township 38 North, Range 2 East, more particularly described as follows; Beginning at a point which is One Hundred Ninety -five and Eighteen Hundredths (195.18) feet North and Eight Hundred Fifty -five and Fifty -four Hundredths (855.54) feet Easterly of the center of said Section 33, said point being on the North line of Progress Drive; thence North Oo 19' 51" East a distance of Four Hundred Sixty -Eight and Seventy -three Hundredths (468.73) feet to the South line of the St. Joseph County Airport; thence South 890 59' 38" East on and along the South line of said St. Joseph County Airport a distance of Four Hundred Thirty -nine and Ten Hundredths (439.10) feet; thence South Oo 18' 51" West a distance of Four Hundred Seventy and Sixty -five Hundredths (470.65) feet to the North line of Progress Drive; thence North 890 40' 09" West a distance of Four Hundred Thirty -nine and Seventy -one Hundredths (439.71) feet to the point of beginning. and this property has Key Number 25 1006 0296, 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 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.