06-13-94 Council Meeting Minutes

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�EGULAR MEETING JUNE 13, 1991 lution was adopted by a roll call vote of nine ayes. 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 LOT 4, TOLL ROAD INDUSTRIAL PARK, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR RICK E. AND VICKIE D. NEWMAN (DBA: CRYSTAL MOUNTAIN, INC.) WHEREAS, a petition for real property tax abatement has been filed with the City lerk for consideration by the Common Council of the City of South Bend, Indiana equesting that the area commonly known as Lot 4, Toll Road Industrial Park, South Bend, ndian, and which is more particularly described as follows: That part of the northeast Quarter of Section 21, T. 38 N., R. 2 E., German Township, City of South Bend, St. Joseph County, Indiana which is described as: beginning at a point on the East line of said nd which has Key Number 25 1013 0216 be designated as an Economic Revitalization Area nder the provisions of Indiana Code 6 -1.1- 12.1 -1 et. seq. and South Bend Municipal Code ections 2 -76 Et Seq. Whereas, the Department of Economic Development has concluded an investigation and )repared a report with information sufficient for the Common Council to determine that -he area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1, at seq., and South Bend Municipal Code Sections 2 -76, et seq., and has further prepared naps and plats showing the boundaries and such other information regarding the area in ;uestion as required by law; and Whereas, the Human Resources and Economic Development Committee of the Common :ouncil has reviewed said report and recommended to the Common Council that the area ;ualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, .ndiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for teal Property Tax Abatement and the Statement of Benefits form completed by the 'etitioner meet the requirements of Indiana Code 6 -1.1- 12.1 -1 et seq., and qualifies ender the relevant provisions of South Bend Municipal Code Sections 2 -76 et seq., for :ax abatement. 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. G. That the area is located in an Economic Development Target Area designated as such under Indiana Code 6 -1.1- 12.1 -7. ;ECTION III. The Common Council hereby determines and finds that the proposed described 7edevelopment or rehabilitation can be reasonably expected to yield benefits identified .n the Statement of Benefits set forth as Sections I through II of the Petition for Real Iroperty Tax Abatement Consideration and that the Statement of Benefits form prescribed iy the State Board of Accounts are sufficient to justify the deduction granted under ndiana Code 6 -1.1- 12.1 -3. ECTION IV. The Common Council hereby accepts the report and recommendation of the uman Resources and Economic Development Committee that the area herein described be esignated an Economic Revitalization Area and hereby adopts a Resolution designating his area as an Economic Revitalization Area for purposes of real property tax batement. ECTION V. The designation as an Economic Revitalization Area shall be limited to two 2 ) calendar years from the date of the adoption of this Resolution by the Common ouncil. The Common Council hereby determines that the property owner is qualified