09-25-06 Council Meeting Minutes

Home Browse Search

REGULAR MEETING SEPTEMBER 25, 2006 RESOLUTION NO. 3642-06 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1401 SOUTH MAIN STREET AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (3) THREE YEAR REAL PROPERTY TAX ABATEMENT FOR BLK, LLC D/B/A OLD FORT BUILDING SUPPLY WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as a vacant lot adjacent to 1401 South Main Street, South Bend, Indiana, and which is more particularly described as follows: Lots Numbered Twelve (12), Thirteen (13), Fourteen (14), and Fifteen (15) as shown on the recorded plat of Samuel C. Stull’s First Addition to the City of South Bend, excepting there from Fifty (50) feet taken off of and from the entire east side of said lots and which has Key Number 18-8004-0166, as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrance’s and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. 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 limited to two (2) 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 (3) three years, and further determines that the petition, the Memorandum of Agreement between the Petitioner and the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. SECTION III. The Common Council hereby determines that should the Company receive the Enterprise Zone Investment Deduction under I.C. 6-1.1-45 for the same property, this Tax Abatement designation shall become null and void. The Company may not receive an economic revitalization area deduction if it receives an enterprise zone investment deduction under I.C. 6-1.1-45 for the same property. 15