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12-21-87 Council Meeting Minutes
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12-21-87 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
12/21/1987
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-1 <br />(B) If the proposed new manufacturing equipment is not installed and deduction <br />is granted, the approximate current year tax rate for the City would be $15.0740; <br />(C) If the proposed new manufacturing equipment is installed, the deduction is <br />granted, and a deduction percentage of eighty percent (80 %) is assumed, the <br />approximate current year tax for the City would be $15.0773; <br />SECTION III. That the Common Council hereby determines and finds that the <br />proposed new manufacturing equipment can be reasonably expected to yield the <br />benefits identified in the statement of benefits as set forth in sections 1 through <br />3 of the Petition for Personal Property Tax Abatement Consideration and the <br />statement of benefits is sufficient to justify the deduction granted under Section <br />6 -1.1- 12.1 -4.5 of the Indiana Code. <br />SECTION IV. That the Common Council hereby accepts the report and <br />recommendation of the Human Resources and Economic Development Committee that the <br />area herein described be designated an Economic Development area for purpose of <br />personal property tax abatement and hereby makes such a designation. <br />SECTION V. That the Common Council determines that such designation is for <br />personal property tax abatement only and shall be limited to five calendar years <br />from the date of the adoption of this resolution by the Common Council. <br />SECTION VI. That the Common Council directs the City Clerk to cause notice of <br />the adoption of this resolution to be published, said publication providing notice <br />of the public hearing before the Common Council on said declaration. <br />SECTION VII. 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 /Joseph T. Serge <br />Member of the Common Council <br />RESOLUTION NO. 1569 -87 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY <br />RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF <br />SOUTH BEND COMMONLY KNOWN AS 220 WEST ECKMAN, TO BE AN <br />ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL <br />PROPERTY TAX ABATEMENT. <br />WHEREAS, the Common Council of the City of South Bend has adopted a Declaratory <br />Resolution designating certain areas within the City as Economic Revitalization <br />Areas for the purpose of tax abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly known as 220 West <br />Eckman, and which is more particularly described as follows: <br />Real Estate in St. Joseph County, in the State of Indiana, described as follows: <br />A tract of land located in the Northwest Quarter of Section 24, Township 37 <br />North, Range 2 East, City of South Bend, St. Joseph County, Indiana, and <br />described as follows: <br />Beginning at an iron pipe at the Southwest corner of the Northwest Quarter of <br />said Section 24; thence North 00000100" East (all bearings assumed) along the <br />West line of the said Quarter Section, 1136.35 feet to a 4" fence post, said <br />point being at the South Right of Way of Eckman Street (50' Right of Way); <br />thence North 88048143" East along the said Right of Way line of Eckman Street <br />343.75 feet to a point identified by a cross cut in concrete, said point being <br />on the Right of Way line of Pennsylvania System Vandalia Rail Road Company (99' <br />Right of Way); thence Southwesterly along the said Rail Road Right of Way <br />1174.85 feet measured on a curve to the right having a radius of 5682.44 feet, <br />subtended by a chord having a bearing of South 13008102" West and a chord <br />length of 1172.80 feet; thence South 88059132" West, 77.20 feet to the Point <br />of Beginning and containing 6.035 acres more or less. <br />as an Economic Revitalization Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public <br />hearing before the Council has been published pursuant to Indiana Code <br />6 -1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrances and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the city of South Bend, <br />Indiana, as follows: <br />SECTION I. That the Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as an Economic Revitalization Area for the <br />purposes of tax abatement. Such designation is for personal property tax abatement <br />only and is limited to two (2) calendar years from the date of adoption of the <br />Declaratory Resolution by the Common Council. <br />
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