5087-24 Declaratory Resolution - Real Property Tax Abatement 711-713 Leland Avenue

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BILL NO. 24-24 RESOLUTION NO. 5087-24 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 711-713 Leland Avenue, South Bend, Indiana 46616 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX -YEAR (6) REAL PROPERTY TAX ABATEMENT FOR Caspers-Shutts Family Trust WHEREAS, a petition for real property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area described as: Key Number: 71-08-02-430-019.000-026 Local Parcel Number: 018-1057-2416 Commonly Known As: 711 Leland Avenue Legal Description: Lot 6 Agricultural Society Add 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, the property being considered for designation as an Economic Revitalization Area and described above is owned by a trust whose grantors are the owners and officers of Style Inc., a domestic for -profit corporation registered in the State of Indiana; and WHEREAS, Style Inc. owns and operates a restaurant named immediately east of the property being considered for designation as an Economic Revitalization Area; and WHEREAS, the petitioner desires to convert an existing building and develop new improvements on the property under consideration for designation as an Economic Revitalization Area with the intent of transforming the parcel into a mixed -use property that will include a new restaurant and residential units; and WHEREAS, petitioner has agreed to and has accepted responsibility to report any changes in the Key Numbers and legal descriptions 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 the 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: