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Home My WebLink About4711-18 Designating Intersection of Sample St. and Franklin St. an Economic Revitalization Area for 8 year Real Property Tax Abatement RESOLUTION No. 4711-18 Passed by the Common Council of the City of South Bend, Indiana April 23, 20-18— Attest: City Clerk Kareem owIer Attest President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana April 23, 20 18. City Clerk Kareemah N. Fowler Approved and signed by me 20-E . Mayor United States of America 113 " ED f ! JUN 0 8 2018 I�PHOG®u t,OUNTY J®S S� Certi* ficate STATE OF INDIANA, COUNTY OF ST. JOSEPH, ss: I, Kareemah Fowler, Clerk of the City of South Bend, County of St. Joseph, Indiana, hereby certify that the attached and foregoing is a full, true, and correct copy of RESOLUTION 4711-18 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND,INDIANA, COMMONLY KNOWN AS INTERSECTION OF SAMPLE ST. AND FRANKLIN ST., SOUTH BEND,IN 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN (8) EIGHT-YEAR REAL PROPERTY TAX ABATEMENT FOR FRANKLIN STREET TECHNOLOGY PARK, LLC ADOPTED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, APRIL 23, 2018. PRESENTED TO, APPROVED AND SIGNED BY MAYOR PETE BUTTIGIEG, APRIL 26, 2018. ATTEST: TIM SCOTT, PRESIDENT OF THE COMMON COUNCIL ATTEST: KAREEMAH N. FOWLER, CITY CLERK the original of which is now on file in the office of the Clerk of the City of South Bend, St. Joseph County, Indiana. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official Seal of the City of South Bend, St. Joseph County, Indiana, this 1� day of JW kl 20 _ Kareemah Fowler Clerk of the City of South Bend St. Joseph County, Indiana Xrj.' ��By Deputy BILL NO. 18-18 RESOLUTION NO. 4711-18 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS Intersection of Sample St. and Franklin St., South Bend, IN 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN (8) EIGHT-YEAR REAL PROPERTY TAX ABATEMENT FOR Franklin Street Technology Park, LLC WHEREAS, a petition for real property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that portions of the property located at the intersection of Sample Street and Franklin Street, South Bend, Indiana which is more particularly described as follows: Parcel I: Lot Numbered One (1) as shown on the recorded Plat of Studebaker Corridor Fourth Minor Subdivision, recorded May 7, 1993 as Document Number 9315731 in the Office of the Recorder of St. Joseph County, Indiana. Parcel II: Lots Numbered Fifty-three (53) and Fifty-four (54) as shown on the recorded Plat of South Bend City, as platted by Samuel Morrison, now a part of the City of South Bend, in St.Joseph County, Indiana. Parcel III: Lots Numbered Fifty-five (55) and Fifty-six (56) as shown on the recorded Plat of South Bend City, as platted by Samuel Morrison, now a part of the City of South Bend, in St. Joseph County, Indiana. Parcel IV: Lots Numbered Fifty-seven (57), Fifty-eight(58), Fifty-nine (59), Sixty (60), Seventy-one (71), Seventy-two (72), Seventy-three (73) and Seventy-four (74) all as shown on the recorded Plat of South Bend City, platted by Samuel Morrison, now within and a part of the City of South Bend,Indiana. and which have Key Numbers 018-8002-0061, 018-8002-0070, 018-8002-0071, 018-8002-0073, 018-8002-0074, 018-8002-0075, 018-8002-0076, 018-8002-0077, 018-8002-0078, 018-8002- 0079, 018-8002-0094, 018-8002-0096, 018-8002-0097, 018-8002-0098, 018-8002-0099, 018- 8002-0100,018-8002-0101,018-8002-0102,and 018-8002-0104,and be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et sec., and South Bend Municipal Code Sections 2-76 et SeMc., and; WHEREAS,the Department of Community Investment has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6-1.1-12.1, et SeMc., and South Bend Municipal Code Sections 2-76,et seg., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS,the Community Investment Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of Indiana Code § 6-1.1-12.1 et seq., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development; B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation; D. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement Consideration and the Memorandum of Agreement between the Petitioner and the City of South Bend, and that the Statement of Benefits form completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1-3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Community Investment Committee that the area herein described be designated as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to four (4) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of(8) eight years as shown by the schedule outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17. Year 1 - 100% Year 2 - 100% Year 3 - 95% Year 4 - 90% Year 5 - 85% Year 6 - 80% Year 7—75% Year 8 - 70% 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. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Tim Scott, ouncil resident South Bend Common Council -Ppac�:, r TH Filed in Clerk's Office PEACE aZ APR 18 `O I V x x 1865 iU FREEIVIAH fiOWLER CITY OF SOUTHBENI)CITYCLERK,SOUTH 6ENDJnl COMMUNITY INVESTMENT JAMES MUELLER, EXECUTIVE DIRECTOR April 18,2018 Council Member Gavin Ferlic, Chairperson Community Investment Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Real Property Tax Abatement Petition for: Franklin Street Technology Park, LLC Dear Council Member Ferlic: Please find attached the Department of Community Investment's report on a real property tax abatement petition for the above-referenced petitioner. Also attached is a copy of the petition, Statement of Benefits form, and supporting information. The project calls for the construction of three office buildings,located at the intersection of Sample Street and Franklin Street, South Bend. The report contains the Department's findings relative to the above petition. The total cost for the construction is estimated at $3,000,000 over a four year period. The project meets the qualifications for an eight-year real property tax abatement and a representative from Franklin Street Technology Park,LLC will be available to meet with the Committee on Monday,April 23, 2018. Should you or any of the other Council members have any questions concerning the report, or need additional information,please feel free to call me at 235-5823. Sincer y, t Daniel uckenmeyer Director of Business Development and Economic Resources D:1N'IELJ.BUCKENMEYER ALKEYNA ALDRIDGE P:LNIELA MEYER TIM CORGORAN BUSINESS DEVELOPMENT ENCAGFriFNT&ECONOMIC EMPOwFRMENT NEIGHBORHOOD DFVFI.OP\BENT PLANNING&.COMMUNITY RESOURCES EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 14005 County-City Building 227W.Jefferson Blvd. South Bend,Indiana 46601 p574.235.9371 www.southbendin.gov