01-27-03 Council Meeting Minutes

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REGULAR MEETING JANUARY 27, 2003 RESOLUTION NO. 3158-03 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 525 ST. VINCENT STREET, 613 CORBY STREET, AND 905 AND 907 ST. LOUIS STREET AS A RESIDENTIALLY DISTRESSED AREA FOR PURPOSES OF A FIVE (5) YEAR RESIDENTIAL REAL PROPERTY TAX ABATEMENT FOR SOUTH BEND HERITAGE FOUNDATION WHEREAS, a Statement of Benefits and a petition for residential real property tax abatement has been submitted to and filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the areas commonly known as 525 St. Vincent Street, 613 Corby Street, and 905 and 907 St. Louis Street, South Bend, Indiana, and which are more particularly described as follows: Street Address: Legal Description: Key Number: 525 St. Vincent Street SE Cor E %2 Lot 144, Sorin's 2nd Add. 18-5110-3921 613 Corby Street W %2 Lot 12, Fogarty's Sub of Lot 149 18-5108-3846 905 St. Louis Street S %2 Lot 11, Fogarty's Sub of Lot 149 18-5108-3845 907 St. Louis Street N %2 Lot 11, Fogarty's Sub of Lot 149 18-5108-3844 be designated as a Residentially Distressed Area under the provisions of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et seci., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as a Residentially Distressed Area under Indiana Code 6-1.1-12.1, et seq., and South Bend Municipal Code Sections 2-76, et sea., 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 and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as a Residentially Distressed 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 meet the requirements of Indiana Code 6-1.1-12.1 et sea., for tax abatement. SECTION II. The Common Council hereby determines and finds that the area meets one of the following conditions as formally established in Ordinance no. 8845-97, which was passed on December 8, 1997: A. The area is comprised of parcels that are either unimproved or contain only one (1) or