01-23-89 Council Meeting Minutes

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Printing Co. is in the production of gift wrap paper. Council Member Zakrzewski made a motion to adopt this resolution, seconded by Council Member Duda. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1693 -89 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 3615 MCGILL ST. TO BE AN ECONOMIC REVITALIZATION AREA FOR THE PURPOSES OF A 5 YEAR PERSONAL PROPERTY TAX ABATEMENT FOR KCP PRINTING. A public hearing was held on the resolution at this time. Mr. William Derrah, Economic Development Department, made the presentation on the resolution. He stated that the new equipment to be installed is a Champlain seven color rotogravure press, an Elsner roll production line, materials handling equipment, office and laboratory equipment. He indicated that the project will create thirty -three (33) new permanent full -time jobs within the first year with an estimated annual payroll of $450,000. He indicated that the total cost of the project is $900,000.00. Council Member Coleman made a motion to adopt this resolution, seconded by Council Member Zakrzewski. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1694 -89 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 1217 SOUTH WALNUT STREET TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR KOKOKU WIRE INDUSTRIES CORPORATION. WHEREAS, the Common Council of the City of South Bend, Indiana has adopted a Declaratory resolution designating certain area 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 1217 South Walnut Street and which is more particularly described as follows: A tract of land in the City of South Bend, County of St. Indiana, situated in the Northwest Quarter of Section 14, of Section 15, Township 37 North, Range 2 East bounded by line: Joseph, and State of and the Northeast Quarter the following described Beginning at a point in the West line of Walnut Street, 1239.70 feet south of the South line of Sample Street, which point is 587.95 feet South of the South Line of the Sanders and Egbert Tract, as conveyed by deed recorded in Deed Record 118, page 428, and Deed Record 121, page 320; thence on an assumed bearing of South 0000149" East along said West line of Walnut Street 479.91 feet; thence South 89054'12" West, 725.03 feet; thence South 61054'12" West, 42.91 feet; thence South 89023'32" West, 437.13 feet; thence North OOOO149" West parallel with said West line of Walnut Street, 504.26 feet; thence North 89055'05" East, 1200 feet to the place of beginning. Subject to legal highways. 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 WHEAREAS, 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. 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. 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 /Ann Puzzello Member of the Common Council A public hearing was held on the resolution at this time. Mr. Mitsuo Enomoto, President Kokoku Wire Industries Corp., made the presentation on the bill. He indicated that in June of 1987 Kokoku Wire Industries purchased the asset of the plant shut down by Acco Babcock Ltd., and they have now reached the point where they are at full capacity with the equipment that was originally purchased. He