5008-23 Designating 8-Year Tax Abatament Tower at Washington Square Property Located at 213 West Washington St.

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BILL NO. 23-11 RESOLUTION NO. 5008-23 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 213 West Washington Street, South Bend, IN 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN EIGHT- YEAR (8) REAL PROPERTY TAX ABATEMENT FOR Apartments and Commercial Space at Tower at Washington Square LLC WHEREAS, a petition for real property tax abatement have been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the areas described as: Key Number: 71-08-12-110-024.000-026 Commonly Known As: 213 West Washington Street, South Bend, IN 46601 Legal Description: R-1 Apartments Lots 239 & 240 & Vac Alley W& Adj OP w 32.3%int in common areas 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,petitioner has agreed to and has accepted responsibility to report any changes in the Key Number and legal description to the Department of Community Investment and to the Office of the City Clerk; 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 each 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;