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SECTION IV. The Common Council hereby accepts the report and recommendation of the <br />Human Resources and Economic Development Committee that the area herein described <br />be designated an Economic Revitalization Area and hereby adopts a resolution <br />designating this area as an Economic Revitalization Area for purposes of real <br />property tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the <br />Common Council. <br />SECTION VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of six (6) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be <br />published, said publication providing notice of the public hearing before the <br />Common Council on the proposed confirming of said declaration. <br />SECTION VIII. The Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />s /Ann Puzzello <br />Member of the Common Council <br />RESOLUTION NO. 1702 -89 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF <br />SOUTH BEND, INDIANA, DESIGNATING CERTAIN AREAS WITHIN <br />THE CITY OF SOUTH BEND COMMONLY KNOWN AS LOTS 5 -3 AND <br />5 -4 IN THE AIRPORT INDUSTRIAL PARK, PHASE IV, AN <br />ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE <br />(5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR SPIN -CAST <br />PLASTICS, INC. <br />WHEREAS, a petition for personal property tax abatement has been filed with the <br />City Clerk for consideration by the Common Council of the City of South Bend, <br />requesting that the area in South Bend, Indiana, which is described as follows: <br />Lots 5 -3 and 5 -4 combined Airport Industrial Park, Phase IV, St. Joseph County, <br />Indiana, <br />be designated as an Economic Revitalization Area under the provisions of Indiana <br />Code 6 -1.1- 12.1 -1 et seq., and South Bend Municipal Code section 2 -76 et seq., and; <br />WHEREAS, the Department of Economic Development has concluded an investigation and <br />prepared a report with information sufficient for the Common Council to determine <br />that the area qualifies as an Economic Revitalization Area under Indiana Code <br />6 -1.1- 12.1 -1 et seq., and South Bend Municipal Code 2 -76, et sew., and has further <br />prepared maps and plats showing the boundaries and such other information regarding <br />the area in question as required by law; and, <br />WHEREAS, the Human Resources and Economic Development Committee of the Common <br />Council have reviewed said report and recommended to the Common Council that the <br />area qualifies as an Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, <br />Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the Petition for <br />Real Property Tax Abatement and Statement of Benefits form completed by the <br />Petitioner meets the requirements of Indiana Code 6 -1.1- 12.1 -1 et seq., and <br />qualifies under the provisions of South Bend Municipal Code Section 2 -76, et seq., <br />for tax abatement. <br />SECTION II. The Common Council hereby determines and finds the following: <br />A. That the estimate of the value of the redevelopment or rehabilitation is <br />reasonable for projects of this nature; <br />B. That the estimate of the number of individuals who will be employed or whose <br />employment will be retained can reasonably be expected to result from the proposed <br />described redevelopment or rehabilitation; <br />C. That the estimate of the annual salaries of those individuals who will be <br />employed or whose employment will be retained can be reasonably expected to result <br />from the proposed redevelopment or rehabilitation; <br />D. That the other benefits about which information was requested are benefits that <br />can be reasonably expected to result from the proposed described redevelopment or <br />rehabilitation; and, <br />E. That the totality of benefits is sufficient to justify the deduction; all of <br />which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and finds that the proposed <br />described redevelopment or rehabilitation can be reasonably expected to yield the <br />benefits identified in the State of Benefits as set forth in section I through II <br />of the Petition for Real Property Tax Abatement Consideration and that the <br />Statement of Benefits from prescribed by the State Board of Accounts are sufficient <br />to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -3. <br />