05-08-95 Council Meeting Minutes

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REGULAR MEETING MAY 8, 1995 RESOLUTION NO. 2237 -95 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 THE SOUTHEAST CORNER OF LAFAYETTE BLVD. AND BRONSON STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN YEAR REAL PROPERTY TAX ABATEMENT FOR DESIGN PACKAGING, INC. WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area commonly known as the Southeast corner of Lafayette and Bronson, and which is more particularly described as follows: That part of the Southwest Quarter of Section 12, Township 37 North, Range 2 East, Portage Township, City of South Bend, St. Joseph County, Indiana which is described as: Tract 2 of the Plat of "Studebaker corporation Replat" as Recorded in Plat Book 11, page 184 the records of the St. Joseph County, Indiana Recorder's Office; thence South 89 48' 29" West along the south line of said Tract and the north right -of -way line of Tutt Street, 172.63 feet (Record S. 89 50122" West, 172.44 feet) to the West line of said Tract and the east right -of- way line of Lafayette Blvd.; thence North 00 10' 41" West along said right -of- way line 765.22 feet (Record, North 00 12' 10" West, 764.97 feet) to the North line of said Trace and the south right -of -way line of Bronson Street; thence S. 89 10' 55" East along said right -of -way line, 172.26 feet (Record, South 00 12' 29" East, 172.38 feet) to the northeast corner of said Tract; thence South 00 12' 28" East, 764.35 feet) to the Point of Beginning. Containing 3.0231 acres or 131,687 square feet. and which has Key Number 18 3041 1558 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 F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits set forth as Sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement.