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04/23/07 Council Meeting Minutes
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04/23/07 Council Meeting Minutes
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12/6/2007 3:52:49 PM
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12/6/2007 2:29:23 PM
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04/23/07 Common Council Agenda
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REGULAR MEETING <br />APRIL 23, 2007 <br />expected to result from the proposed described redevelopment or <br />rehabilitation; <br />D. That the estimate of the annual salaries of those individuals who will be <br />employed or whose employment will be retained by the Petitioner can be <br />reasonably expected to result from the proposed redevelopment or <br />rehabilitation; <br />E. That the other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed described <br />redevelopment or rehabilitation; and <br />E That the totality of benefits is sufficient to justify the requested deduction, <br />all of which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. <br />SECTION III. The Common Council hereby determines and finds that the proposed <br />described redevelopment or rehabilitation can be reasonably expected to yield benefits <br />identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition <br />for Real Property Tax Abatement Consideration, the Memorandum of Agreement <br />between the Petitioner and the City of South Bend, and that the Statement of Benefits <br />form completed by the petitioner, said form being prescribed by the State Board of <br />Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1- <br />3. <br />SECTION IV. The Common Council hereby accepts the report and recommendation of <br />the Community and Economic Development Committee that the area herein described be <br />designated as an Economic Revitalization Area and hereby adopts a Resolution <br />designating this area as an Economic Revitalization Area for purposes of real property <br />tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VL The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period (7) seven years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be published <br />pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication <br />providing notice of the public hearing before the Common Council on the proposed <br />confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />s/Timothy A. Rouse <br />Member of the Common Council <br />Councilmember Varner made a motion to hear the substitute version of this bill. <br />Councilmember Dieter seconded the motion which carried by a voice vote of eight (8) <br />ayes. <br />Councilmember Dieter, Chairperson, Community & Economic Development Committee, <br />reported that this committee held a meeting this afternoon to hear the pros and cons and it <br />was the consensus of the committee to send this substitute bill to the full Council with a <br />favorable recommendation. <br />23 <br />
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