02-09-15 Common Council Meeting Minutes

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REGULAR MEETING FEBRUARY 09, 2015 SECTION VI. 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 pursuant to Indiana Code 5 -3 -1, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Member of the Common Council Presenter Mr. Fielding the building is the former building that sat empty for approximately 3 years. The Foster Group is purchasing the building and spending approximately $3.7 million on the entire project to become a natural wholesale distribution center operated and owned by MGE, creating 40 new jobs during the 3 years. Total tax abated under the 100% first year and 150% second year, the maximum amount abated $180,000 over the next 2 years. $2,000 to be spent on new equipment. Total taxes to be abated on personal property $8,220 with $10,800 to be paid. Brad Foster, President of looking to improve the building. We have customers all over the U.S. and ship to eight different countries. It is just an expansion of the business and looking to create 40 new jobs over three years. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor or in opposition to this Resolution, Councilmember Dieter made a motion to adopt bill 15 -08. Councilmember Varner seconded the motion which carried and the Resolution was adopted by a roll call vote of seven (7) ayes. Councilmember Dieter made a motion to adopt bill 15 -09. Councilmember Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call vote of seven (7) ayes. Mr. Fielding I just want to point out that, tonight you adopted tax abatements with companies that are nationally and global shippers in the area, which is something that we need to do attract more of in South Bend. 15 -10 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, APPROVING A PROPOSED LEASE FOR CERTAIN LOCAL PUBLIC IMPROVEMENTS BETWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY, AS LESSOR, AND THE SOUTH BEND REDEVELOPMENT COMMISSION, AS LESSEEE, THE ISSUANCE OF LEASE RENTAL REVENUE BONDS BY THE SOUTH BEND REDEVELOPMENT AUTHORITY AND OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Commission (the "Commission "), governing body of the South Bend Department of Redevelopment and the South Bend Redevelopment District (the "Redevelopment District "), exists and operates under the provisions of Indiana Code 36 -7 -14, as amended from time to time (the "Act "); and WHEREAS, the Commission has previously designated and declared an area in the City of South Bend, Indiana (the "City "), known as the River West Development Area to be a an economic development area and an allocation area (the "Area ") for the purpose of collecting tax increment finance revenues, adopted an Economic Development Plan for the Area, and established an allocation fund for said Area; and IN