05-23-88 Council Meeting Minutes

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REGULAR MEETING MAY 23, 1988 WHEREAS, the Common Council of the City of South Bend has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 2810 Foundation Drive and which is more particularly described as follows: A part of Section 28, Township 38 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described as follows: Commencing at the northeast corner of the Southeast Quarter of Section 28; thence South 89 058'56" West a distance of 2294.41 feet along the north line of said quarter section to the point of beginning; thence South 0 °00'47" West a distance of 247.17 feet; then South 89 °58 56" West a distance of 477.83 feet to the east boundary of Foundation Drive; thence North 0 000147" East a distance of 277.17 feet along said east boundary; thence North 44 059152" East a distance of 14.14 feet to the South boundary of Boland Drive; thence North 89 058'56" East a distance of 447.83 feet along said south boundary; south 0 000147" West a distance of 40.0 feet along said south boundary; thence North 89 058156" East a distance of 20.0 feet along said south boundary to the point of beginning, being known as Lot 4 -4 Airport Industrial Park Phase III. as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. 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 confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. such designation is for Personal property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory resolution by the Common Council. 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 /John Voorde Member of the Common Council A public hearing was held on the resolution at this time. Gerald Petznick, Plant Manager, Sealed Power Corporation, 2810 Foundation Dr., made the presentation on the resolution. He indicated that the company manufactures die cast components. He stated that the project will create 15 new, permanent full -time jobs, with a new annual payroll of $360,000. The estimated cost of the equipment is $1,000,000. Council Member Zakrzewski made a motion to adopt the resolution, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of 9 ayes. RESOLUTION NO. 1611 -88 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 445 NORTH SHERIDAN AVENUE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT (BOLIDEN METECH, 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 445 North Sheridan Avenue, South Bend, Indiana, and which is more particularly described as follows: A tract of land in the Southwest 1/4 of Section 4, Township 37 North, Range 2 East located in Portage Township, City of South Bend, St. Joseph County, Indiana, described as follows: Beginning at a point on the West line of Sheridan Avenue (80 foot right -of -way) 420.19 feet North (assumed bearing) of the North line of Linden Avenue (80 foot right -of -way) which point is also 207 feet West and 460.19 feet North of the Southeast corner of said Southwest 1/4 of Section 4; thence Northerly along said West line of Sheridan Avenue 673.22 feet to the Southerly right -of -way line of the Consolidated Rail Corporation (formerly the New York Central Railroad); thence North 79 018130" West along said Southerly right -of -way line of the Consolidated Rail Corporation 429.83 feet; thence South 00 008'15" West 749.04 feet to a point 418.30 feet North 00 03115" East of the North Line of Linden Avenue; thence East perpendicular to the West line of Sheridan Avenue 370.56 feet to the point of beginning, containing 6.268 acres, more or less. be designated as an Economic Revitalization Area under the provisions of Indiana Cnde 6 -1.1- 12.1 -1 et cea_u and South Rend MinicinaI Coda sentinn 2 -76: and