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REGULAR MEETING FEBRUARY 09, 2015 <br />Dental equipment and supply manufacturing equipment and which has Key Numbers 71 -023- <br />22494-00 be designated as an Economic Revitalization Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing <br />before the Council has been published pursuant to Indiana Code 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 <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the <br />area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such <br />designation is for personal property tax abatement only and is limited to two (2) calendar years <br />from the date of adoption of the Declaratory Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner is qualified for <br />and is granted personal property tax deduction for a period of five (5) years as shown by the <br />attachment pursuant to Indiana Code 6 -1.1- 12.1 -17 and further determines that the petition, the <br />Memorandum of Agreement between the Petitioner and the City of South Bend, and the Statement <br />of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend <br />and Indiana Code 6- 1.1 -12 et sea. <br />SECTION III. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approved by the Mayor. <br />Member of the Common Council <br />Presenter Chris Fielding, Community Investment from the 14' floor County City Bldg. 227 W. <br />Jefferson South Bend IN confirming resolution for personal property tax abatement of Heraeus <br />Kulzer looking to spend $1.5 million on new equipment to support prosthetics and esthetics <br />dental industry globally. Total to be abated over a five (5) year period $53, 811, total taxes to be <br />paid on that equipment $54,514 and company has committed to creating to 10 new jobs at $22 an <br />hour. <br />Christopher Holden President of Heraeus Kulzer 4315 S. Lafayette Blvd. South Bend IN 46614 <br />gave a brief synopsis the investment of $1.5 million will be going towards research that will be <br />digitally manufactured along with the proprietary factory. <br />A Public Hearing was held on the Resolution at this time. <br />There being no one present wishing to speak to the Council either in favor or in opposition to this <br />Resolution, Councilmember Oliver Dieter made a motion to adopt this bill. Councilmember <br />Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call <br />vote of seven (7) ayes. <br />0 <br />