04-13-09 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING APRIL 13, 2009 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 remonstrance’s 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. 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 two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Personal Property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. s/Derek D. Dieter Member of the Common Council Mr. Kenn Andrews, owner, Treadstone, 445 N. Sheridan, South Bend, Indiana, made the presentation for this bill. Mr. Andrews advised that Treadstone, LLC recycles solid rubber tires into rubber mulch of various sizes and weights depending on use. Ninety percent of their production is a large premium size that is used primarily for children’s playground and for landscaping. The equipment to be purchased is a tire shredding machine. The new machine will double the company’s production capacity to recycle solid rubber tires into mulch. The company is relatively new. For the past two years it has been using three prototype machines to manufacture its product. These machines are not built to withstand the rigors of the company’s current production schedule. The new machine is stronger and will ease the burden on the three prototypes. In fact, the new machine is being built following a design that Treadstone developed and provided to the machine manufacturer. The design is based on Treadstone’s experience with their prototypes. The estimated cost of the new machine is $200,000. Total taxes to be abated during the five (5) year abatement period are estimated at $7815. total additional taxes to be paid as a result of the project during the five-year abatement period are estimated at $6,311. Per the petition, it is estimated that the project will create three (3) new, permanent full-time positions with an annual payroll of $60,000. The project will also maintain four (4) existing permanent full-time positions and one (1) existing part-time position with a total annual payroll of $160,000. 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 of or in opposition to this Resolution, Councilmember Kirsits made a motion tot adopt this Resolution. Councilmember Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. 14