Amending Chapter 2 Indiana Entitled Tax Abatement Procedures

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ORDINANCE NO.� AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AMENDING CHAPTER 2, ARTICLE 6 OF THE MUNICIPAL CODE OF THE CITY OF SOUTH BEND, INDIANA ENTITLED TAX ABATEMENT PROCEDURES. STATEMENT OF PURPOSE AND INTENT On March 22, 1983, the Indiana State Legislature passed House Enrolled Act No. 1899. This law makes significant changes related to local economic development and the local tax abatement procedures. The following Bill amends the City's local ordinance concerning tax abatement procedures. It establishes procedures which are consistent with the new State law. It further establishes a workable system to enable the City to utilize possible property tax deductions as an incentive to encourage economic revitalization by private developers. The Common Council believes that the Bill is in the best interest of the City. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. Chapter 2, Article 6, of the Municipal Code of the City of South Bend, Indiana, is hereby amended in its entirety to read as follows: SECTION 2 -76. PERSONAL AND REAL PROPERTY TAX ABATEMENT PROCEDURES (a) The owner or owners of property which is located within the City may petition the Common Council for tax abatement consideration. Petition forms shall be provided by the City Clerk's office. Tax abatement requests shall only be considered for businesZ uses, which would operate within Major Groups 15 through 39, -and 42 . of the Standard Industrial Classification Manual published by the Executive Office of the Office of Management and Budget which are hereby incorporated by reference, and two (2) copies shall be maintained in the Office of the City Clerk for public inspection. Tax abatement petitions for business uses which do not meet the S.I.0 major groups, shall only be considered if significant permanent employment results from the project, "significant employment" shall be defined as creating at least one hundred (100 ) new permanent jobs, or if the project is within any designated redevelopment area of the City. (b) The petition shall be completed and shall be filed with the City Clerk together with the filing fee of One Hundred Dollars ($100.00) to cover reasonable administrative costs. The form shall include the following information for properties located within economic revitalization areas as defined by I.C. 6-1.1-12.1-1- (formerly known as tax abatement impact areas) : 1. The name or names and addresses of the propery owners and any other persons(s) leasing, intending to lease, or having an option to buy such property. 2. If the business organization is publicly held, the name of the corporate parent and the name under which the corporation has filed with the Securities and Exchange Commission. 3. The legal description and commonly known address of the real property for which real property tax abatement is being petitioned, and /or legal description and commonly known address of the facility in which the tangible personal property for which tangible personal property tax abatement is being petitioned.