04-15-96 Council Meeting Minutes

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REGULAR MEETING APRIL 15, 1996 and which is more particularly described as follows: That part of the Northeast quarter of Section 18, Township 37 North, Range 2 East, City of South Bend, St. Joseph County which is described as: From the Northwest corner of East half of the Northeast quarter of said section measure South 90099'00" West along the North line of said section, 630.00 feet and South 000 02' 31" East 40.00 feet and North 900 00100" East 300.02 feet (300.00 feet record) and South 000 04'00" West 578.33 feet (South 000 04'00" West 578.33 feet South 000 04'00" West 578.33 feet (South 000 01'52" West, 579.125 feet record) and North 89024113 east, 13.64 feet (North 890 59'13" East 13.745 feet record) and South 00000138" East 250.27 feet to the point of beginning of this description; thence South 89055149" West along the North line of Industrial Avenue (now vacated), 159.99 feet; thence South 00003124" West 400.60 feet; thence South 89055'41" East along the Northerly line of the New Jersey, Indiana and Illinois Railroad, 289.00 feet; thence North 00056'24" West 128.96 feet; thence North 00000'38" West 38.00 feet to the point of beginning. and which has Key Number 18 8112 421509 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et. seq. and South Bend Municipal Code Sections 2 -76 Et Seq. Whereas, the Department of 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 -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 Human Resources and Economic Development 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 -1 et seq., and qualifies under the relevant provisions of South Bend Municipal Code Sections 2 -76 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; 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; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and