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Home My WebLink About4756-18 Nilkanth, LLC Designating Tax Abatement RESOLUTION No. 4756-18 Passed by the Common Council of the City of South Bend, Indiana October 22 20 18 Attest: L lr City Clerk Attest' President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana October 22, 20 gAl-e?vd - If.: City Clerk Ka eemah N. Fowl r tr Approved and signed by me V"'" ° 20 IMayor . �� U United States of America h;lv 21 201$ • ,., otTOR Certificate STATE OF INDIANA, COUNTY OF ST. JOSEPH, ss: I, Kareemah N. Fowler, Clerk of the City of South Bend, County of St. Joseph, Indiana, hereby certify that the attached and foregoing is a full, true, and correct copy of RESOLUTION 4756-18 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 4836 WESTERN AVE, SOUTH BEND,IN 46619 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (7) SEVEN-YEAR REAL PROPERTY TAX ABATEMENT FOR NILKANTH, LLC ADOPTED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, OCTOBER 22, 2018. PRESENTED TO, APPROVED AND SIGNED BY MAYOR PETE BUTTIGIEG, OCTOBER 26, 2018. ATTEST: TIM SCOTT, PRESIDENT OF THE COMMON COUNCIL ATTEST: KAREEMAH N. FOWLER, CITY CLERK -.'ED. I NUV 12018 ,UN7Y the original of which is now on file in the office of the Clerk of the City of South Bend, St. Joseph County, Indiana. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official Seal of the City of South Bend, St. Joseph County, Indiana, this 8,60'1 day of 1\10/eAtylAger 20 ig Kareemah N. Fowler Clerk of the City of South Bend St. Joseph County, Indiana By: . . Kareemah N. owler BILL NO. 18-64 RESOLUTION NO. 4756-18 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 4836 Western Ave, South Bend, IN 46619 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (7) SEVEN-YEAR REAL PROPERTY TAX ABATEMENT FOR Nilkanth, LLC WHEREAS, a petition for real property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that portions of the property located at 4836 Western Ave, South Bend, Indiana which is more particularly described as follows: Lot 2 Western & Summit Drive Minor Subdivision: THAT PART OF THE SOUTHEAST QUARTER OF SECTION 8, TOWNSHIP 37 NORTH, RANGE 2 EAST,PORTAGE TOWNSHIP, CITY OF SOUTH BEND, ST.JOSEPH COUNTY, INDIANA WHICH IS DESCRIBED AS: BEING A PORTION OF LOT # 1 IN THE PLAT OF "WESTERN B.K. MINOR SUBDIVISION" AS RECORDED BY DOCUMENT NO. 1512416 IN THE RECORDS OF THE ST. JOSEPH COUNTY, INDIANA RECORDER'S OFFICE AND MORE PARTICULARLY DESCRIBED AS: BEGINNING AT A POINT ON THE SOUTH RIGHT-OF-WAY LINE OF WESTERN AVENUE WHICH POINT IS SOUTH 89°56'49"WEST,A DISTANCE OF 60.00 FEET FROM THE NORTHWEST CORNER OF LOT # 2 IN SAID PLAT; THENCE SOUTH 00°37'39" EAST, A DISTANCE OF 25.00 FEET;THENCE NORTH 89°56'49"EAST,A DISTANCE OF 20.00 FEET;THENCE SOUTH 00°37'39" EAST, A DISTANCE OF 150.00 FEET; THENCE SOUTH 89°56'49" WEST,A DISTANCE OF 245.07 FEET; THENCE NORTH 00°38'45" WEST,A DISTANCE OF 175.00 FEET TO THE SOUTH RIGHT- OF-WAY LINE OF WESTERN AVENUE; THENCE NORTH 89°56'49" EAST ALONG SAID SOUTH LINE,A DISTANCE OF 225.14 FEET TO THE POINT OF BEGINNING. CONTAINING 0.97 ACRES MORE OR LESS. SUBJECT TO ALL LEGAL HIGHWAYS, EASEMENTS AND RESTRICTIONS OF RECORD and which has Key Number 018-4129-504422, and be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et seq., and; WHEREAS,the Department of Community Investment 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 seq., and South Bend Municipal Code Sections 2-76, et seq., 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 Investment 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 I. 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 seq., for tax abatement. SECTION II. The Common Council hereby determines and finds 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 reasonably expected to result from the proposed redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement Consideration and the Memorandum of Agreement between the Petitioner and the City of South Bend, and that the Statement of Benefits form completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1-3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Community Investment Committee that the area herein described be designated as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to three (3) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of(7) seven years as shown by the schedule outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17. o II Year 1 - 100% Year2 - 95% Year 3 - 90% Year 4 - 80% Years - 70% Year 6-60% Year?-50% SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Tim Scott, Council President South Bend Common Council PRFSENTED1 D122/ 1410