Laserfiche WebLink
REGULAR MEETING OCTOBER 8, 2012 <br /> <br /> <br /> <br />WHEREAS, the Community and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area <br />qualifies as an Economic Revitalization Area. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br /> <br /> <br />SECTION I. The Common Council hereby determines and finds that the Petition for Real <br />Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet <br />the requirements of Indiana Code § 6-1.1-12.1 et seq., for tax abatement. <br /> <br />SECTION II. The Common Council hereby determines and finds the following: <br /> <br />A. That the description of the proposed redevelopment or rehabilitation meets the <br />applicable standards for such development; <br /> <br />B. That the estimate of the value of the redevelopment or rehabilitation is reasonable <br />for projects of this nature; <br /> <br />C. That the estimate of the number of individuals who will be employed or whose <br />employment will be retained by the Petitioner can reasonably be expected to result from the <br />proposed described redevelopment or rehabilitation; <br /> <br />D. That the estimate of the annual salaries of those individuals who will be employed <br />or whose employment will be retained by the Petitioner can be reasonably expected to result <br />from the proposed redevelopment or rehabilitation; <br /> <br />E. That the other benefits about which information was requested are benefits that <br />can be reasonably expected to result from the proposed described redevelopment or <br />rehabilitation; and <br /> <br />F. That the totality of benefits is sufficient to justify the requested deduction, all of <br />which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. <br /> <br />SECTION III. The Common Council hereby determines and finds that the proposed described <br />redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the <br />Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement <br />Consideration and the Memorandum of Agreement between the Petitioner and the City of South <br />Bend, and that the Statement of Benefits form completed by the petitioner, said form being <br />prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under <br />Indiana Code § 6-1.1-12.1-3. <br /> <br />SECTION IV. The Common Council hereby accepts the report and recommendation of the <br />Community and Economic Development Committee that the area herein described be designated <br />as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an <br />Economic Revitalization Area for purposes of real property tax abatement. <br /> <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) <br />calendar years from the date of the adoption of this Resolution by the Common Council. <br /> <br />SECTION VI. The Common Council hereby determines that the property owner is qualified for <br />and is granted property tax deduction for a period of up to five (5) years. <br /> <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of <br />this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana <br />Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public <br />hearing before the Common Council on the proposed confirming of said declaration. <br /> <br />SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by <br />the Common Council and approval by the Mayor. <br />4 <br /> <br /> <br />