02-22-10 Common Council Meeting Minutes

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REGULAR MEETINGFEBRUARY 22, 2010 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 real property tax abatement only and is now limited to three (3) 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 real property tax deduction for a period of three (3) years. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s/Derek D. Dieter Member of the Common Council Councilmember Timothy Rouse, Chairperson, Community and Economic Development, 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. Ms. Jamie Ruiz, Managing Director, Financial & Asset Services, CBRE/Bradley CB Richard Ellis, 202 S. Michigan Street, Suite 200, South Bend, Indiana, made the presentation for this bill. Ms. Ruiz advised that due to current economic conditions, the anticipated anchor tenants(s) for Gateway Plaza Phase IV have not been able to follow through on their intent. Subsequently, the project has been postponed with a projected Spring 2010 groundbreaking date. She stated that they have been actively approaching users since May 2009 and will continue with these efforts in attempt to expedite the project to the best of their ability. She stated that they appreciate the Council’s understanding of the owner’s inability to begin construction given all the factors. Councilmember Henry Davis asked how old the building was. Ms. Ruiz advised that this is vacant land next to 3305 Lathrop. Ms. Ruiz stated that this tax abatement was originally granted in December 2008 and being 2010 they don’t anticipate the building being finished and therefore request a one- year extension of the tax abatement. 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 Varner 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. 9