04-09-90 Council Meeting Minutes

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Fm USP REGULAR MEETING AYitlb 7, L7vv 198.04 feet to a point on the North line of Lot 43 in said Plat; thence South 890 54' 00" East, along said North line, 89.00 feet to the place of beginning. ALSO, A parcel of land being a part of Lots 43 through 48 and the adjacent vacated fourteen foot alley all in the Original Town of Lowell, now City of South Bend, Indiana, and being more particularly described as follows: Beginning at the Northeast Corner of said Lot 43; thence South Oo 06' 00" West (Bearing Assumed) along the West right -of -way line of Niles Avenue, a measured distance of 409.94 feet to the Southeast corner of said Lot 48; thence North 890 45' 24" West along the North right -of -way line of Washington Street, a measured distance of 11.00 feet; thence North 90 06' 00" East parallel with said West right -of -way line of Niles Avenue, a measured distance of 409.91 feet to the South right -of -way line of Colfax Avenue; thence South 890 54' 00" East along said South right -of -way line, a measured distance of 11.00 feet to the place of beginning containing 4,509 square feet, more or less. Subject to any easements, covenants, or restrictions of record. PARCEL E9 -11 A parcel of land being lots 95 and 96 and the East 65 feet of Lot 94 in the Original Plat to the Town of Lowell, now City of South Bend, Portage Township, St. Joseph County, Indiana and being more particularly described as follows: Beginning at the Southwest corner of said Lot 96; thence North Oo 00' 00" East (Bearing Assumed) along the East right -of -way line of Niles Avenue a distance of 131.72 feet to the Northwest corner of said Lot95; thence North 890 57' 00" East along the North line of said Lot 95 a distance of 100.95 feet; thence North Oo 04' 55" West a distance of 65.92 feet to the North line of said Lot 94; thence North 89 54' 56" East along said North line a distance of 65.00 feet to the Northeast corner of said lot; thence South Oo 04' 56" East along the East line of said lots a distance of 197.89 feet to the South line of said Lots 96; thence North 890 58' 41" West along said South line a distance of 166.14 feet to the place of beginning containing 26,175 square feet (0.601 acres) more or less. Subject to any easements, covenants or restrictions of record. 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 section 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 section 2 -76, et se g., 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 the following: A. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; B. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed described redevelopment or rehabilitation; C. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed redevelopment or rehabilitation; D. 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 E. That the totality of benefits is sufficient to justify the deduction, all of which satisfy the requirements of I.C. 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 the 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 Section 6- 1.1- 12.1 -3 of the Indiana Code.