06-12-00 Council Meeting Minutes

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REGULAR MEETING JUNE 12, 2000 Hundred Ninety -three and four hundredths (493.04) feet to the Southerly line of said parcel deeded by said Grantors to the New York central Railway Company; thence North Easterly along the Southerly line of said last named parcel to a point on the South line or the right of way of the Indiana Northern Railroad Company due West of the place of beginning; thence East ten hundred Fifty -seven and Thirteen hundredths (1057.13) feet, more or less, to the place of beginning, and containing Seventeen and seven hundred Sixty -one thousandths (17.761) acres, exclusive of Olive Street. All that part of the East Half of the North West Quarter of the North West Quarter of Section No. 15, Township No. 37 North, Range No. 2 East, that lies South of the right -of -way of the Indiana, Illinois, and Iowa Railroad Company (now New York Central Railroad), now within and a part of the City of South Bend; excepting therefrom a lot or parcel of land bounded as follows: Beginning at the intersection of the South Easterly line of said right -of -way and the East line of the East Half of the Northwest Quarter of the North West Quarter of said Section No. 15, thence running South Westerly along the South Easterly line of said right -of -way to the West line of the East Half of the North West Quarter of the North West Quarter of said Section; thence running South 219 feet, more or less, to a point; thence North Easterly parallel with and 219 feet South of the Southerly line of said right -of -way to the East line of the East Half of the North West Quarter of the North West Quarter of said Section No. 15; thence North 219 feet, more or less, to the place of beginning. and which have Key Numbers 18- 8075 -2838, 18- 8075 -2839, 18- 8075- 284406, 18- 8075 -2843, 18- 8075- 284403, 18- 8075- 284404, 18- 8075- 284502, 18- 8075- 284501, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et sea., and South Bend Municipal Code Sections 2 -76 et. sea-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 an Economic Revitalization Area under Indiana Code 6 -1.1 -12.1, et. sea., 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 ofthe 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. sea., 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; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation; G 1