10-24-88 Council Meeting Minutes

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404 REGULAR ME X 0--CMOB 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 Statement of Benefits set forth as sections 1 through 11 of the Petition for Personal Property Tax Abatement Consideration and that the 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 -3 of the Indiana Code. SECT10N 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 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 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 Declaratory Resolution for Personal Property Tax Abatement to be published, said publication providing notice of the public hearing before the Common Council on the proposed confirming of 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 resolutions at this time. Council Member Luecke indicated the Human Resources Committee had met and recommended these resolutions to the Council favorable. Council Member Luecke made a motion to accept the substitute bill on file with the City Clerk, seconded by Council Member Zakrzewski. The motion carried. Kenneth Fedder, attorney, made the presentation for the resolutions. He indicated South Bend Lathe had recently been purchased by John Van Otterloo. He indicated the existing building needs to be renovated to include a new roof, new windows, insulation and general overall maintenance. He indicated they are also contemplating purchasing approximately $5 million in new equipment to replace the old and outdated equipment, in order to remain competitive in the market. Council Member Luecke made a motion to adopt Resolution No. 1656 -88, as amended, seconded by Council Member Zakrzewski. The resolution was adopted by a roll call vote of nine ayes. Council Member Zakrzewski made a motion to adopt Resolution No. 1657 -88, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of nine ayes. Council Member Puzzello made a motion to combine public hearing on the next two resolutions, seconded by Council Member Slavinskas. The motion carried. RESOLUTION NO. 1658 -88 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS TECHNOLOGY DRIVE, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 10 YEAR REAL PROPERTY TAX ABATEMENT FOR GORDON PLASTICS, INC. 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 Technology Drive, South Bend, Indiana, and which is more particularly described as follows: A parcel of land in the north half of Section 19, Township 38 North, Range 2 East, City of South Bend, German Township, St. Joseph County, Indiana, said tract more particularly described as follows: Commencing at the North Quarter corner of said Section 19; thence South 00 °54138" East, on and along the North centerline of said Section 19, 110.75 feet to the South right -of -way line of Brick Road; thence North 88 °47124" West, along said South line, 519.31 feet; thence South 00 °54138" East, 1002.25 feet; thence North 89 °55136" East, 18.97 feet; thence South 00 °54138" East, 311.85 feet to the true Place of Beginning, said Point being the Southwest corner of Lot 10 as shown on the recorded Plat of Landmark Business Park,