05-12-08 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING MAY 12, 2008 SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period five (5) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. The Common Council hereby determines that should the Company receive the Enterprise Zone Investment Deduction under I.C. 6-1.1-45 for the same property, this Tax Abatement designation shall become null and void. The Company may not receive an economic revitalization area deduction if it receives an enterprise zone investment deduction under I.C. 6-1.1-45 for the same property. SECTION IX. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s/Timothy A. Rouse Member of the Common Council Councilmember Varner made a motion to correct a scrivener’s error in the title of the Resolution, the correct address is 1401 South Main Street. Councilmember Oliver Davis seconded the motion which carried by a roll call vote of nine (9) ayes. Councilmember Dieter, Chairperson, Community and Economic Development committee, reported that this committee held a Public Hearing on this bill this afternoon and voted to send it to the full Council with a favorable recommendation. Mr. Robert Jagger, President, Old Fort Building Supply, 1401 S. Main Street, South Bend, Indiana, residing at 57800 Timothy Road, New Carlisle, Indiana, made the presentation for this bill. Mr. Jagger advised that Old Fort Building Supply is proposing to construct a 12,000 square foot storage warehouse with the addition of an outside storage area for products specific to Old Fort’s business. The additional capacity will enable the company to buy in larger volume and remain competitive in the current downturn of the construction industry. Mr. Jagger stated that Old Fort Building Supply is a major supplier of construction materials to the Michiana area. He noted that between 80%-90% of the company’s sales are to professional contractors and subcontractors. The main product lines are brick, architectural block, stone, landscaping pavers and wall, drywall, steel studs, insulation, acoustical ceilings and related products. Mr. Jagger advised that it is estimated that the total project will create two (2) new, permanent, full-time jobs representing a new annual payroll of $62,000. The project will also retain twenty (20) existing, permanent, full-time jobs and one (1) existing, permanent, part-time job representing an annual payroll of $950,000. Mr. Jagger stated that the project cost is estimated at $325,000. 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 Dieter made a motion to 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. 10