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REGULAR,_ MEETING
<br />3,
<br />seconds right a distance of 201.44 feet to the point of beginning; thence northerly
<br />along a line with a deflection angle of 90 degrees 07 minutes left, a distance of
<br />387.02 feet; thence easterly along a line with a deflection angle of 90 degrees, 13
<br />minutes right, a distance of 92.16 feet; thence southerly along a line with a
<br />deflection angle of 89 degrees 40 minutes right, a distance of 197.25 feet; thence
<br />westerly along a line with a deflection angle of 89 degrees 55 minutes right, said
<br />line being also the north face of the existing building, thence southerly along a
<br />line with a deflection angle of 89 degrees 54 minutes left, said line being also the
<br />west face of the existing building, a distance of 190.18 feet; thence westerly along
<br />a line with a deflection angle of 90 degrees 04 minutes right, a distance of 17.92
<br />feet to the point of beginning.
<br />as an Economic Revitalization Area; and
<br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public
<br />hearing before the Council has been published pursuant to Indiana Code
<br />6- 1.1- 12.1 -2 -5; and
<br />WHEREAS, the Council held a public hearing for the purposes of hearing all
<br />remonstrances and objections from interested persons; and
<br />WHEREAS, the Council has determined that the qualifications for an economic
<br />revitalization area have been met.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana, as follows:
<br />SECTION I. That the Common Council hereby confirms its Declaratory Resolution
<br />designating the area described herein as an Economic Revitalization Area for the
<br />purposes of tax abatement. Such designation is for personal property tax abatement
<br />only and is limited to five (5) calendar years from the date of adoption of the
<br />Declaratory Resolution by the Common Council.
<br />SECTION II. This Resolution shall be in full force and effect from and after
<br />its adoption by the Common Council and approval by the Mayor.
<br />/s /Beverlie J. Beck
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Ann Kolata, Assistant
<br />Director of Redevelopment, indicated his company is experiencing a need for newer
<br />technological equipment, and his personal property tax abatement is needed to
<br />service an increasing customer base and keep abreast of changing customer needs.
<br />Council Member Zakrzewski made a motion to adopt this resolution, seconded by
<br />Council Member Taylor. The resolution was adopted by a roll call vote of nine ayes.
<br />RESOLUTION NO. 1363 -85 AN INDUCEMENT RESOLUTION OF THE COMMON COUNCIL OF THE
<br />CITY OF SOUTH BEND RELATING TO: FRANK D. DARNELL
<br />The South Bend Economic Development Commission has investigated, studied,
<br />surveyed and reported to the Mayor and the Common Council of the City of South Bend,
<br />Indiana, that a need exists in the community for additional job opportunities and
<br />industrial diversification within and near South Bend, Indiana and that to improve
<br />and promote job opportunities and commercial diversification within and near South
<br />Bend, Indiana certain contractual agreements regarding financing should be executed
<br />Frank D. Darnell (the "applicant "), relating to the construction of improvements on
<br />property located in Lot 5 of the Landmark Business Park.
<br />The Applicant desires to construct certain economic development facilities to be
<br />based and located in South Bend, Indiana (the "Project ").
<br />To induce Applicant to proceed with such project, the Common Council of the City
<br />of South Bend desires to adopt this resolution.
<br />It is apparent that the project will increase job opportunities and industrial
<br />diversification in and near South Bend, Indiana, resulting in a benefit to the
<br />welfare of the public in South Bend, Indiana.
<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 of the City of South Bend approves the
<br />application of Frank D. Darnell to construct economic development facilities to be
<br />located in South Bend, Indiana, under an arrangement whereby a portion of the costs
<br />of such construction of the Project would be paid from the proceeds of Industrial
<br />Development Revenue Bonds issued by the City of South Bend, Indiana in an aggregate
<br />principal amount of approximately Two Million Four Hundred Thousand Dollars
<br />($2,400,000), repayable at market rates.
<br />SECTION II. In order to encourage, induct and solicit such application by
<br />Applicant for such Industrial Development Bonds relating to the construction of said
<br />Economic Development facilities, the South Bend Economic Development Commission, and
<br />the Common Council of the City of South Bend shall proceed to cooperate with and
<br />I�
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