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08-08-11 Common Council Meeting Minutes
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08-08-11 Common Council Meeting Minutes
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REGULAR MEETING AUGUST 8, 2011 <br /> <br /> <br /> <br />designated an economic revitalization area in accordance with I.C § 6-1.1-12.1-1, <br />ND ODE <br />et seq.; and <br /> <br />WHEREAS, as part of the Building Project, Huron Partners described for the <br />Common Council that (a) the Building Project (also known as the Huron Building) would <br />be the first improvement scheduled for construction within the Portage Prairie project, (b) <br />the Huron Building would be a speculative building containing approximately 150,000 <br />square feet for single or multi-tenant use, (c) the construction of the Building Project <br />would commence in late 2006 and be completed at an estimated cost of approximately <br />$5,000,000, and (d) the success of the Building Project would be helpful to spur further <br />private investment in the Portage Prairie area; and <br /> <br />WHEREAS, as contemplated as part of the Building Project, Huron Partners (a) <br />successfully completed constructed of the Huron Building which consists of <br />approximately 150, 00 square feet, (b) met its proposed investment in construction and <br />tenanting costs for the Huron Building, and (c) has entered into agreements with separate <br />tenants to occupy 100% of the Huron Building (which tenants have reported their <br />headcounts to Huron Partners during 2009 and 2010 of more than 40 employees); and <br /> <br />WHEREAS, the (a) Building Project was first assessed for real property tax <br />purposes as 100% complete for the March 1, 2009 assessment date for taxes payable in <br />2010 (the “First Tax Year”), and (b) notice of such assessment was provided in the form <br />of a tax bill, as opposed to separate notice of assessment, received in 2010; and <br /> <br />WHEREAS, as a result of an employee’s departure from Holladay Properties, the <br />Taxpayer (through an inadvertent oversight) did not timely file a Form 322 ERA/RE <br />“Application for Deduction from Assessed Valuation of Structures in Economic <br />Revitalization Areas” (the “Application Form”) on the Huron Building which was to be <br />filed within thirty (30) days after receiving notice of an assessment for the First Tax Year <br />(as contemplated under I.C § 6-1.1-12.1-5); and <br />ND ODE <br /> <br />WHEREAS, this oversight was an unusual occurrence for Holladay Properties, <br />which pays significant annual real property taxes and has made diligent efforts in good <br />faith to make all required Indiana tax filings (including abatement filings) on a timely <br />basis; and <br /> <br />WHEREAS, the Taxpayer filed a belated Application Form to claim benefits of <br />the property tax abatement for the First Tax Year (together with its filing of an <br />Application Form to preserve the benefit of property tax abatement for subsequent years) <br />with the St. Joseph County Auditor, which Application Form was denied due to the <br />belated nature of the filing; <br /> <br />WHEREAS, the Common Council recognizes that (a) the Taxpayer fulfilled its <br />pledge to build a new light industrial facility in the City of South Bend and thereby to <br />enhance the tax base and support employment in the City; (b) the Taxpayer has requested <br />a waiver of its inadvertent oversight for late filing of the Application Form to claim <br />benefits of the tax abatement for the First Year, which the Common Council has the <br />power and authority to approve under Indiana law, and (c) the Taxpayer would have been <br />entitled to receive the tax abatement benefits for the First Year had no noncompliance <br />event occurred; and <br /> <br />WHEREAS, the Indiana General Assembly has expressed the policy of this State <br />by enacting laws that expressly permit tax abatement noncompliance events such as the <br />untimely filing of an Application Form to be waived; and <br /> <br />WHEREAS, the noncompliance event has been corrected, and a public hearing of <br />the Common Council has been held on the subject of this Resolution. <br /> <br />NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, AS FOLLOWS: <br /> <br /> 23 <br /> <br />
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