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REGULAR MEETING <br />MAY 14, 2007 <br />RESOLUTION NO. 3749-07 A RESOLUTION WAIVING CONDITIONS <br />PRECEDENT TO THE ADOPTION OF A <br />DECLARATORY RESOLUTION DESIGNATING <br />CERTAIN AREAS WITHIN THE CITY OF <br />SOUTH BEND, INDIANA, COMMONLY <br />KNOWN AS 202 S. MICHIGAN, SOUTH BEND, <br />INDIANA, FLOORS 2, 4, AND 5 TO BE AN <br />ECONOMIC REVITALIZATION AREA FOR <br />PURPOSES OF A TEN (10) YEAR REAL <br />PROPERTY TAX ABATEMENT FOR KEY SB, <br />LLC, THE HINMAN COMPANY <br />WHEREAS, Key SB, LLC (The Hinman Company), an Indiana limited liability <br />company (the "Petitioner") filed a petition for real property tax abatement (the "Petition") <br />and a Form SB-1 statement of benefits with the South Bend City Clerk on February 16, <br />2007 for consideration by the Common Council of the City of South Bend, Indiana (the <br />"Common Council"), requesting that the area commonly known as 202 S. Michigan <br />Street, South Bend, Indiana, Floors 1 ,2 ,4, 5, 9, and 11 to 14, and which has the parcel <br />key numbers 18-3003-0054, 18-3003-0056 and 18-3003-0044 (the "Property"), be <br />designated as an economic revitalization area under the provisions of Indiana Code <br />sections 6-1.1-12.1-1 et seq., and South Bend Municipal Code sections 2-76 et seq.; and <br />WHEREAS, the rehabilitation of Floors 2, 4 and 5 form one part of and are a <br />precedent stage to performing additional rehabilitation work in the other Floors of the <br />Property listed above; and <br />WHEREAS, the Petitioner was faced with very short deadlines to meet a new <br />tenant's move in requirements; and <br />WHEREAS, in order to accommodate the new tenant, other tenants in the <br />building had to be moved to make room for the new tenant; and <br />WHEREAS, major renovations to the Floors 11 to 14 of the Property were <br />required to meet the new tenant's needs; and <br />WHEREAS, the Petitioner's contractor in an effort to meet the short deadlines <br />obtained building Permit Nos. 105995 and 106222 on March 13, 2007 and March 26, <br />2007 respectively and began rehabilitation (as defined by Indiana Code section 6-1.1- <br />12.1-1(6) of the Property on the 2nd Hoar (Permit No. 105995) and the 4d` and 5~` floors <br />(Permit No. 106222); and <br />WHEREAS, the Common Council has adopted a policy requiring that petitioners <br />for tax abatement wait until after the Common Council has adopted declaratory and <br />confirming resolutions in accordance with Indiana Code section 6-1.1-12.1-2.5 (b) and <br />(c), before obtaining a building permit and before initiating redevelopment or <br />rehabilitation of real property, absent circumstances that compel a petitioner to initiate <br />such activities before such resolutions have been adopted; and <br />WHEREAS, the Petitioner has presented substantial evidence to the Common <br />Council that urgent circumstances existed requiring the Petitioner to obtain the above <br />described building permits and to initiate rehabilitation of the Property before the <br />Common Council had adopted declaratory and confirming resolutions, and the Common <br />Council has concluded that such circumstances present a compelling reason to waive the <br />Common Council's policy: <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />21 <br />