05-23-88 Council Meeting Minutes

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REGULAR MEETING MAY 23, 1988 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 sec., 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. The Common Council hereby determines and finds that the Petition for Personal Property Tax Abatement and State of Benefits form completed by the Petitioner meet the requirements of I.C. 6 -1.1- 12.1 -1 et sec., and qualifies under the provisions of South Bend Municipal Code Section 2 -76 for tax abatement. 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 be expected to result from 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 new manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits set forth as Sections I through III of the Petition for Personal Property Tax Abatement and that the completed Statement of Benefits Form prescribed by the State Board of Accounts are 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 be designated an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes such a designation. SECTION V. The Common Council determines that such designation is for personal property tax abatement only for the area and shall be limited to 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. The Common Council directs the City Clerk to cause notice of the adoption of this Resolution to be published, said publication providing notice of the public hearing before the Common Council on said declaration. SECTION VIII. 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 Luecke made a motion to accept the substitute version that is on file with the City Clerk's Office, seconded by Council Member Coleman. Ernest Szarwark, 100 N. Michigan St., made the presentation on the resolution. He indicated that the petitioner Boliden Metech, is a Swedish company based out of Mapleville, Rhode Island. He stated that the tax abatement is needed to purchase equipment to expand the company. The new machinery will be used to process scrap products, such as electronic circuit boards, so that metal and plastics components can be recycled. The new equipment will permit the company to complete recycling operations now done out of state. The estimated cost of the equipment is $300,000 to $400,000. The project will create 12 to 22 new, permanent, full -time jobs, representing a new annual payroll of $180,000 to $330,000, and will maintain 8 existing permanent full -time with an annual payroll of $120,000. Council Member Luecke made a motion to adopt the resolution as amended, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of 9 ayes. RESOLUTION NO. 1612 -88 A RESOLUTION INDICATING WILLINGNESS TO ACCEPT OBLIGATIONS AND RESPONSIBILITIES NECESSARY FOR A FEDERAL GRANT UNDER THE FEDERAL WATER POLLUTION CONTROL ACT AMENDMENTS OF 1972 FOR THE DEVELOPMENT OF A FArTLTTTES PLAN FOR THE CITY OF SOUTH BEND, INDIANA