05-09-88 Council Meeting Minutes

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A f• REGULAR MEETING MAY 9, 1988 SECTION II. The Common Council hereby determines and finds the following: A. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; B. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably by expected to result form the proposed described redevelopment of rehabilitation; C. 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; D. 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 E. 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. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield the benefits identified in the State of Benefits set forth in Sections 1 through 3 of the Petition for Personal Property Tax Abatement Consideration, and that the completed Statement of Benefits is sufficient to justify the deduction granted under Section 6 -1.1- 12.1 -4.5 of the Indiana Code. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described by designated an Economic Revitalization Area and hereby adopts a resolution designating this area as an Economic Revitalization Area for purposes of personal property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to the two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s /John Voorde Member of the Common Council A public hearing was held on the resolution at this time. Council Member Puzzello made a motion to amend this bill by substitution, as on file with the City Clerk, seconded by Council Member Coleman. The motion carried. Mark Hunter, Sealed Power Corp., made the presentation on the resolution. He indicated that the company is based in Michigan and Indiana and is opening a die casting business at the 2810 Foundation Drive address. The company plans to purchase $1 million dollars worth of new equipment and will create 15 new jobs. Council Member Zakrzewski made a motion to adopt this resolution, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of 9 ayes. 88 -26 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 105 E. JEFFERSON BLVD., SOUTH BEND, INDIANA AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. Council Member Luecke made a motion to continue this resolution to the next meeting on May 23, 1988, at the request of the petitioner, seconded by Council Member Coleman. The motion carried. BILLS. FIRST READING BILL NO. 27 -88 A BILL TO VACATE THE FOLLOWING DESCRIBED PROPERTY: THE 1ST NORTH -SOUTH ALLEY EAST OF PORTAGE RUNNING NORTH FROM ELWOOD TO KING ST. FOR A DISTANCE OF 120 FEET ALL BEING IN NORTHWEST 2ND ADD TO THE CITY OF ST. JOSEPH COUNTY, INDIANA. This bill had first reading. Council Member Puzzello made a motion to set this bill for second reading and public hearing May 23, 1988, and sent to the Zoning & Vacation Committee, seconded by Council Member Coleman. The motion carried. BILL NO. 28 -88 A BILL OF THE CITY OF SOUTH BEND, INDIANA APPROVING A LEASE FOR THE ST. JOSEPH /WAYNE PARKING FACILITY BETWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY AND THE SOUTH BEND REDEVELOPMENT COMMISSION. This bill had first reading. Council Member Coleman made a motion to set this bill for second reading and public hearing May 23, 1988, and send it to the Human Resources and Economic Development Committee, seconded by Council Member Zakrzewski. The motion carried. BILL NO. 30 -88 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, ESTABLISHING A CUMULATIVE CAPITAL DEVELOPMENT FUND.