12-21-87 Council Meeting Minutes

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M SECTION II. That the Common Council hereby determines that the property owner is qualified for and is granted personal property tax deduction for a period of five (5) years. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s/ Joseph T. Serge Member of the Common Council A public hearing was held on the resolution at this time. Kathleen Cekanski- Farrand, Council attorney, indicated that Sibley's intended to increase the capacity at the foundry in order to enable them to produce more intricate and complex products. She indicated this expansion was a vital component to the Company's survival in an increasing competitive environment. She indicated sixty to seventy -five new jobs will be created. Council Member Beck made a motion to adopt Resolution No. 1568 -87, seconded by Council Member Zakrzewski. The motion carried on a roll call vote of nine ayes. Council Member Beck made a motion to adopt Resolution No. 1569 -87, seconded by Council Member Taylor. The resolution was adopted by a roll call vote of nine ayes. Council Member Beck made a motion to combine public hearing on the next two resolutions, seconded by Council Member Taylor. The motion carried. RESOLUTION NO. 1570 -87 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 220 W. COLFAX AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. WHEREAS, a petition for real property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 220 W. Colfax, South Bend, Indiana, and which is more particularly described as follows: Parcel I: Lots Numbered One (1), Two (2), Seven (7), Eight (8), and the East one -third (1/3) of Lot Number Four (4) as shown on the recorded plat of J. C. Knoblock's Subdivision of Lots Numbered 245 and 246 in the Original Plat of the Town, now City, of South Bend, Indiana, recorded in Plat Book 8, page 15 in the Office of the Recorder of St. Joseph County, Indiana. EXCEPTING from said Lot Number Two (2) the following: A strip of land bounded by a line described as beginning at the Northwest corner of Lot 2 in Subdivision of Lots 245 and 246 in the original plat of South Bend, Indiana, thence running easterly on the North line of said Lot 2 a distance of 31.65 feet to a point that is 0.50 feet east of the east end of the existing Party Wall; thence south a distance of 1.25 feet; thence westerly parallel with the North line of said Lot 2 to a point on the West line thereof, said point being 1.25 feet south of the point of beginning; thence North on the West line of Lot 2 along the west end of said Party Wall to the place of beginning; said exception being the real estate described in that certain Quit -Claim Deed dated March 21, 1986, and recorded as Instrument 8606081 in the Office of Recorder, St. Joseph County, Indiana. 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 section 2 -76; 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 the Indiana Code 6 -1.1- 12.1 -1, et seq. and South Bend Municipal Code Section 2 -76, 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. That the Common Council hereby determines and finds that the estimate of the number of individuals that will be employed or whose employment will be retained and the estimate of value of the redevelopment or rehabilitation and any other benefits about which the body designating the economic revitalization area requires information are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation. SECTION II. That the Common Council hereby determines and finds the following: