08/27/07 Council Meeting Minutes

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REGULAR MEETING AUGUST 27, 2007 WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known 2500 Green Tech Drive, South Bend, Indiana, and which is more particularly described as follows: That part of the Northeast Quarter of Section 23, Township 37 North, Range 2 East, Portage Township, City of South Bend, St Joseph County, Indiana, which is described as Beginning at a point on the East line of said quarter section which is N. 00 degrees-32"-42"E., 633.94 feet from the Southeast corner of said Northeast Quarter, thence North 89 degrees-32'- 08"W. adistance of 513.91 feet; thence N. 00 degrees-37'-40" E. a distance of 92.64 feet; thence N. 89 degrees-32'-08 W. a distance of 280.00 feet; thence N. 00 degrees- 37'-40" E. a distance of 467.98 feet; thence S. 89 degrees-26'-14" E. a distance of 197.94 feet, thence N. O1 degrees-49'-53" E. a distance of 32.63 feet; thence S. 89 degrees-15'-43" E. a distance of 46.11 feet; thence S. 89 degrees- 26'-14" E. a distance of 548.32 feet to the East line of said Northeast Quarter, thence S. 00 degrees-32'-42" W. along said East line a distance of 591.88 feet to the point of beginning containing 10.05 acres. and which has no Key Number presently at this point and time, 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 sec ., and; WHEREAS, the Department of Community and Economic Development 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 sec ., and South Bend Municipal Code Sections 2-76, et sec ., 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 and Economic Development 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 L 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 sec ., for tax abatement. SECTION IL The Common Council hereby determines and fmds 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 19