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REGULAR MEETING AUGUST 13, 2007 <br />E. That the other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed described <br />redevelopment or rehabilitation; and <br />F. That the totality of benefits is sufficient to justify the requested deduction, <br />all of which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. <br />SECTION III. The Common Council hereby determines and finds that the proposed <br />described redevelopment or rehabilitation can be reasonably expected to yield benefits <br />identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition <br />for Real Property Tax Abatement Consideration, the Memorandum of Agreement <br />between the Petitioner and the City of South Bend, and that the Statement of Benefits <br />form completed by the petitioner, said form being prescribed by the State Board of <br />Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1- <br />3. <br />SECTION IV. The Common Council hereby accepts the report and recommendation of <br />the Community and Economic Development Committee that the area herein described be <br />designated as an Economic Revitalization Area and hereby adopts a Resolution <br />designating this area as an Economic Revitalization Area for purposes of real property <br />tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period (6) six years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be published <br />pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication <br />providing notice of the public hearing before the Common Council on the proposed <br />confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />s/Timothy A. Rouse <br />Member of the Common Council <br />Councilmember Dieter, Chairperson, Community and Economic Development <br />Committee, reported that this committee held a Public Hearing on these bills this <br />afternoon and voted to send them to the full Council with a favorable recommendation. <br />Mr. Michael K. Conn, Authorized Representative for GWSB Properties, LLC, made the <br />presentation for these bills. <br />Mr. Conn advised that the petitioner's tenant, Corporate Services, Inc., in anticipation of <br />timely consideration of the tax abatement, committed to completion of a new heating and <br />air conditioning system (HVAC) completely installed on the Property and ready for <br />inspection by the client by a date specific time. Corporate Services, Inc, notified the <br />Council prior to commencing work on the HVAC system. The date specific time was <br />before the next scheduled Common Council meeting of August 13, 2007. Mr. Conn <br />further advised that Corporate Services, Inc., the lessee, performs marketing services <br />including printing, packaging, assembly, warehousing and distribution. The owners of <br />the project, GWSB Properties, LLC intend to add mechanical equipment to provide <br />temperature and humidity control to the entire operation. Due to the types of materials <br />which Corporate Services, Inc. stores and handles for their current and a prospective <br />15 <br />