10-08-90 Council Meeting Minutes

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0-4 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 I.C. 6 -1.1- 12.1 -1 et seq., and qualifies under the provisions of South Bend Municipal Code Section 2 -76, et se g., for tax abatement. SECTION II. 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 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 in 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. 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. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of three (3) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. 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 CouncilRESOLUTION NO. 1815 -90 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 2424 NORTH FOUNDATION DRIVE, SOUTH BEND, INDIANA, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR NIMET INDUSTRIES, INC. WHEREAS, a petition for personal property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, requesting that the area commonly known as 2424 North Foundation Drive, South Bend, Indiana, and which is more particularly described as follows: A parcel of land in part of the South Half of Section 28, Township 38 North, Range 2 East, German Township, St. Joseph County, Indiana, described as follows: Commencing at the southeast corner of said Section ; thence North 90 degrees 00 minutes 00 seconds West 2642.71 feet to the southeast corner of the Southwest Quarter of said Section; thence South 89 degrees 57 minutes 33 seconds West 171.27 feet; thence North 0 degrees 00 minutes 47 seconds East 528.56 feet; thence South 89 degrees 59 minutes 13 seconds East 40 feet to the point of beginning of this description; thence North 0 degrees 00 minutes 47 seconds East 375.00 feet; thence South 89 degrees 59 minutes 13 seconds East 450.00 feet; thence South 0 degrees 00 minutes 47 seconds West 375.00 feet; thence North 89 degrees 59 minutes 13 seconds West 450.00 feet to the point of beginning and containing 3.874 acres, more or less. The bearing of the South line of the Southeast Quarter of Section 28 is assumed North 90 degrees 00 minutes 00 seconds West. be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et se g., and South Bend Municipal section 2 -76 et seq., and;