12-13-93 Counicl Meeting Minutes

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Village 2nd Unit Addition to the City of South Bend, Indiana, more particularly described as follows: Commencing at a point on the North line of Western Avenue, 225 feet West of the West line of Village Way, said point being the Southwest corner of a tract of land conveyed to Chaster W. Wagoner by Colpaert Realty Corporation, by virtue of a warranty deed dated April 4, 1969 and recorded April 10, 1969 in Deed Record 712, page 428 in the Office of the Recorder of St. Joseph County, Indiana; thence North along the West line of said Wagoner tract, 143 feet to the point of beginning for the following described tract of land; thence continuing North along a line, said line being the West line of said Wagoner tract extended North 25 feet; thence East parallel with said North line of Western Avenue, 210.93 feet to the Westerly line of Village Way; thence Southeasterly along said Westerly line of Village Way 25.82 feet; are measurement to the Northeast corner of said Wagoner tract; thence West along the North line of said Wagoner tract, 217.25 feet to the place of beginning. PARCEL IV: A part of Block Lettered "E" as shown on the recorded Plat of Garden Village 2nd Unit Addition, in the City of South Bend, Indiana, more particularly described as follows: Beginning at a point on the North line of Western Avenue, 125 feet West of the West line of Village Way, said point being the Southwest corner of a tract of land conveyed to the Phillips Petroleum Company by Belleville Investment Company by virtue of a Warranty Deed dated September 27, 1960 and recorded October 5, 1960 in Deed Record 606, page 197 in the office of the Recorder of St. Joseph County, Indiana; thence continuing West 100 feet; thence North along the line parallel with the West line of said Phillips Petroleum Company tract 142 feet; thence East parallel with said North line of Western Avenue 217 feet, more or less to the Westerly line of Village Way; thence Southeasterly along said Westerly line of Village Way to the Northeast corner of said Phillips Petroleum Company; thence West along the North line of said Phillips Petroleum Company tract 120.62 feet; thence South 125 feet to the place of beginning. which has Key Number 18- 4124 -4818, 18- 4124- 481801, and 18- 4124 - 481802 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, Indian, 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. 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. 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