04-23-90 Council Meeting Minutes

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47 REGULAR MEETING APRIL 23, 1990 A public hearing was held on the Resolution at this time. John Phair, 100 E. Wayne St., made the presentation on the resolution. He indicated that the project shall consist of a three story commercial office building of approximately 36,000 square feet. He stated that the project will create 15 new jobs with an annual payroll of $622,125.00. He stated that the estimated value of the project is $3,000,000.00. Council Member Luecke made a motion to adopt this resolution, seconded by Council Member Duda. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1780 -90 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 431 E. COLFAX AVENUE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 10 YEAR REAL PROPERTY TAX ABATEMENT FOR NILES / COLFAX ASSOCIATES. WHEREAS, the Common Council of the City of South Bend, Indiana has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement and consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 431 E. Colfax Avenue and which is more particularly described as follows: A parcel of land being a part of the Lots 38 and 42 inclusive along with vacated alleys, or parts thereof in the Original Plat to the Town of Lowell, now City of South Bend, Portage Township, St. Joseph County, Indiana being more particularly described as follows: Beginning at the Southeast corner of said Lot 42, thence North 89- 54' -0" West along the South line of said Lot 42 also being the North right -of -way of Colfax Street, a distance of 139.77 feet: thence North 4- 51' -15 West, a distance of 70.11 feet: thence North 5- 27' -04" West, a distance of 66.59 feet, thence North 3- 49; -42" West, a distance of 66.69 feet: thence North 5- 10' -1 -" West, a distance of 14.89 feet: thence North 6- 33' -25" West, a distance of 68.34 feet to the North line of a 16 foot alley: thence North 89- 57' -07" East along the North line of said alley, a distance of 178.84 feet to the West right -of -way line of Niles Avenue: thence South 0- 12' -20" West along the West right -of -way line of said Niles Avenue, a distance of 347.40 feet to the place of beginning containing 1.245 acres more or less. Subject to any easements, covenants or restrictions of record. as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted real personal property tax deduction for a period of six (6) years. SECTION III. This resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s /Thomas Zakrzewski Member of the Common Council A public hearing was held on the resolution at this time. John Phair, 100 E. Wayne St., made the presentation on the bill. He stated that the project will consist of a two story commercial office building of approximately 26,000 square feet. He indicated that the project will create 10 new jobs with an annual payroll of' $260,000. He stated that the estimated value of the project is $2,000,000.00. Council Member Luecke made a motion to amend this bill, seconded by Council Member Duda. The motion carried. Council Member Coleman made a motion to adopt this resolution as amended, seconded by Council Member Slavinskas. The resolution was adopted by a roll call vote of nine ayes.