04-12-93 Council Meeting Minutes

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N5T, REGULAR MEETING APRIL 12, 1993 South 900.6 feet; thence West 657.1 feet; thence North 900.6 feet to the place of beginning. Subject also to a right of way of the New Jersey, Indiana & Illinois Railroad Company, as conveyed to it by Warranty Deed dated February 11, 1930, recorded in Deed Record 227, page 293 in the County Recorder's Office of St. Joseph County, Indiana. Parcel II: A certain tract of land in Belleville Industrial District, in Section 16, township 37 North, Range 2 East, described as follows: Beginning at the intersection of the center line of the New Jersey, Indiana & Illinois Railroad Spur and the North line of proposed Industrial Avenue, said intersecting point beginning 900.6 feet South and 1329.87 feet East of the Northwest corner of the Northeast Quarter of Section 16, Township 37 North, Range 2 East; thence East along the North line of proposed Industrial Avenue if extended East 664.5 feet; thence South parallel with the West line of the Northeast Quarter of said Section 16, 311.5 feet to the center line of said New Jersey, Indiana & Illinois Railroad Company's Spur line running in a Southwesterly and Northwesterly direction; thence Southwesterly and Northwesterly along the center line of said spur line 1096.5 feet to the place of beginning, excepting therefrom all railroad right -of -ways within said tract; and also excepting therefrom a tract of land described as beginning at a point 9 feet East of and 900.6 feet South of the Northwest corner of the Northeast Quarter of the Northeast Quarter of Section 16, Township and Range aforesaid; thence running East parallel with and 900.6 feet South of the North line of said Section 16 a distance of 329 feet; thence South parallel with and 338 feet East of the West line of the Northeast Quarter of the Northeast Quarter of said Section 16, a distance of 38 feet; thence West parallel with and 938.6 feet South of the north line of aid Section 16 a distance of 329 feet; thence North parallel with and 9 feet East of the West line of the Northeast Quarter of said Section 16 a distance of 38 feet to the place of beginning. and this property has Key Number 18 8112 4211, 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. 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