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REGULAR MEETING MAY 12, 2003 <br />RESOLUTIONS <br />RESOLUTION NO. 3185 -03 A RESOLUTION OF THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND DESIGNATING CERTAIN <br />AREAS WITHIN THE CITY OF SOUTH BEND, <br />INDIANA, COMMONLY KNOWN AS 121 WEST <br />LASALLE STREET AN ECONOMIC REVITALIZATION <br />AREA FOR PURPOSES OF A THREE (3) YEAR REAL <br />PROPERTY TAX ABATEMENT FOR BRAY OKILO, INC. <br />WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for <br />consideration by the Common Council of the City of South Bend, Indiana requesting that the area <br />commonly known as 121 West LaSalle Street, South Bend, Indiana, and which is more particularly <br />described as follows: <br />Lots numbered 74 and 75 and 173, as shown on the recorded Original <br />Plat of the town, now City of South Bend, St. Joseph County, Indiana <br />and which has Key Number 18 -1003 -0120, be designated as an Economic Revitalization Area under <br />the provisions of Indiana Code 6- 1.1- 12.1 -1 et sec ., and South Bend Municipal Code Sections 2 -76 <br />et SeMc .; and <br />WHEREAS, the Department of Economic Development has concluded an investigation and prepared <br />a report with information sufficient for the Common Council to determine that the area qualifies as <br />an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1, et sec ., and South Bend <br />Municipal Code Sections 2 -76 et sue., and has further prepared maps and plats showing the <br />boundaries and such other information regarding the area in question as required by law; and <br />WHEREAS, the Human Resources and Economic Development Committee of the Common Council <br />has reviewed said report and recommended to the Common Council that the area qualifies as an <br />Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, <br />Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the Petition for Real Property <br />Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the <br />requirements of Indiana Code 6 -1.1- 12.1 -1 et se_ _ c�., and qualified under the relevant provisions of <br />South Bend Municipal Code Sections 2 -76 et seq., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds the following: <br />A. That the description of the proposed redevelopment or rehabilitation meets <br />the applicable standards for such development; <br />B. That the estimate of the value of the redevelopment or rehabilitation is ■ <br />