4744-18 Modifying and reconfirming resolution for Tower at Washington (Retail)

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BILL NO. 18-51 RESOLUTION NO. 4744-18 A RESOLUTION MODIFYING AND RECONFIRMING THE ADOPTION OF DECLARATORY RESOLUTION NO. 4502-15 DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 211 West Washington Street AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (10) TEN YEAR REAL PROPERTY TAX ABATEMENT FOR RETAIL PROPERTY LOCATED AT THE TOWER AT WASHINGTON SQUARE 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. 4502-15 designated the area located at 211 West Washington Street, South Bend, IN 46601 and which is more particularly described as follows: LOTS 239 &240 & VAC ALLEY W &ADJ OP 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. 4537-16, confirming the adoption of Declaratory Resolution No. 4502-15 on March 15,2016; and WHEREAS, the Petitioner was granted a three-year designation period in Confirming Resolution No. 4537-16,which expired on September 29, 2018; however,the project has not been completed yet; 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 1. 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. 4502-15 and Confirming Resolution No. 4537-16 designating the area described herein as an Economic Revitalization Area for the purpose of a real property tax abatement. Such designation is limited to five (5) calendar years from the date of adoption of Declaratory Resolution No. 4502-15 by the Common Council. SECTION III. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of ten (10) years as shown below and further determines that the petition, the Statement of Benefits and the Memorandum of Agreement between the Petitioner and the City of South Bend 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.