4735-18 Modifying and reconfirming resolution for Historic JMS Building

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BILL NO. 18-42 RESOLUTION NO. 4735-18 A RESOLUTION MODIFYING AND RECONFIRMING THE ADOPTION OF DECLARATORY RESOLUTION NO. 4461-15 DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 106-110 North Main St., South Bend, IN 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (10) TEN YEAR REAL PROPERTY TAX ABATEMENT FOR Historic JMS Building, LLC WHEREAS, the Common Council of the City of South Bend has adopted declaratory resolutions designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, Declaratory Resolution No. 4449-15 designated the area located at 106-110 North Main Street, South Bend, IN 46601 and which is more particularly described as follows: Key Number 018-1008-0330—Lot 21 Ex 5' N End &Ex 26' E Side Original Plat 99-010 Split to 033003 Trans 9773 10-7-98 Key Number 018-1008-033003 —20.33' X 70' Nw Cor Lot 20 Original Plat 99-00 Split Fr 0330 Per 9773 10-7-8 Key Number 018-1008-0331 - LOT 20 8X40 FT S SIDE OF 40 FT X 18 FT NE COR& MID PT N END LOTS 19&20 62 1/2 FT ON WASH ST X 1112-3 FT DEEP O P SO BEND and which currently designated as an Economic Revitalization Area; and WHEREAS, upon proper notice, a public hearing was held, after which the Common Council issued Confirming Resolution No. 4461-15, confirming the adoption of Declaratory Resolution No. 4449-15 on June 25, 2015; and WHEREAS, the Petitioner was granted a two-year designation period in Confirming Resolution No. 4461-15, which expired on June 25, 2017; however, the project has not been assessed until July 2018; and WHEREAS, the Petitioner has requested additional two years to extend the designation period. 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 extension of the designation is appropriate and meets the requirements of Indiana Code § 6-1.1-12.1 et seq. SECTION II. The Common Council hereby reconfirms Declaratory Resolution No. 4449-15 and Confirming Resolution No. 4461-15 designating the area described herein as an Economic Revitalization Area for the purpose of a real property tax abatement. Such designation is limited to four(4) calendar years from the date of adoption of Declaratory Resolution No. 4449-15 by the Common Council. SECTION III. The Common Council hereby determines that the property owner is qualified for