12-16-85 Council Meeting Minutes

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REGULAR MEETING DECEMBER 16, 1985 '6 Parcel II Lots Numbered 1, 2, 3, 4, and 5 as shown on the recorded Plat of Hosinski's Subdivision of Lot Numbered 43 of College Grove Addition, now a part of the City of South Bend. Parcel III Tract designated "A" as shown on the recorded Plat of Clement Studebaker's Oak Grove Subdivision, now a part of the City of South Bend. Parcel IV Vacated Grant Street lying between Tract designated "A" as shown on the recorded Plat of Clements Studebaker's Oak Grove Subdivision and Lots Numbered 30, 31, and 48 as shown on the recorded Plat of College Grove, as Platted by Benjamin Winans. Parcel V The vacated north -south alley lying between Lot Numbered 44 of College Grove Addition and Lots Numbered 1, 2, 3, and 5 of Hosinski's Subdivision. 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 WHEREAS, 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. That 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 five (5) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s/ Beverlie J. Beck Member of the Common Council A public hearing was held on the resolutions at this time. Richard Morgan, attorney, indicated O'Brien Corporation was seeking both real and personal abatement for expansion of existing buildings and equipment which will add to the research, development and manufacturing capacity of the company. Council Member Zakrzewski made a motion to adopt Resolution No. 1386 -85, seconded by Council Member Crone. The resolution was adopted by a roll call vote of nine ayes. Council Member Zakrzewski made a motion to adopt Resolution No. 1387 -85, seconded by Council Member Taylor. The resolution was adopted by a roll call vote of nine ayes. BILLS, FIRST READING BILL NO. 174 -75 A BILL AMENDING THE ZONING ORDINANCE FOR PROPERTY LOCATED AT 4324 SOUTH MICHIGAN STREET, IN THE CITY OF SOUTH BEND, INDIANA. This bill had first reading. Council Member Serge made a motion to refer this bill to Area Plan, seconded by Council Member Taylor. The motion carried. ORDINANCE NO. 7581 -85 AN ORDINANCE AUTHORIZING THE ISSUANCE OF $2,500,000.00 ECONOMIC DEVELOPMENT REVENUE BONDS (EAST RACE COMMERCIAL PROJECT) OF THE CITY OF SOUTH BEND, INDIANA, FOR THE PURPOSE OF FUNDING A LOAN TO T. BROOKS BRADEMAS OR HIS ASSIGNS ( "BRADEMAS'), IN ORDER TO FINANCE THE ACQUISITION AND CONSTRUCTION OF CERTAIN REAL ESTATE AND ECONOMIC DEVELOPMENT FACILITIES LOCATED WITHIN ST. JOSEPH COUNTY, INDIANA, FOR USE BY BRADEMAS: AUTHORIZING EXECUTION OF THE LOAN AGREEMENT, AN INDENTURE OF TRUST APPROPRIATE FOR THE PROTECTION AND DISPOSITION OF THE REVENUES FROM THE FINANCING AGREEMENT: AND AUTHORIZING THE TERMS AND SALE OF SAID BONDS. This bill had first reading. Council Member Serge made a motion to suspend the rules and have public hearing and second reading on this bill, seconded by Puzzello. The motion carried on a roll call vote of nine ayes. This being the time heretofore set for public hearing on the above bill, proponents and opponents were given an opportunity to be heard. Kenneth Fedder, attorney for the Economic Development Commission, made the presentation for the bill. He indicated this