05-23-88 Council Meeting Minutes

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��3 REGULAR MEETING MAY 23, 1988 ORDINANCE NO. 7876 -88 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, ESTABLISHING A CUMULATIVE CAPITAL DEVELOPMENT FUND. This bill had third reading. Council Member Puzzello made a motion to amend this bill, as amended in the Committee of the Whole, seconded by Council Member Coleman. The motion carried. Council Member Puzzello made a motion to pass this bill, seconded by Council Member Coleman. The bill passed by a roll call vote of nine ayes. RESOLUTIONS 88 -24 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 614 N. MICHIGAN ST., SOUTH BEND, INDIANA, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. Council Member Luecke made a motion to continue this resolution to the June 27, 1988 meeting, at the request of the petitioner, seconded by Council Member Niezgodski. The motion carried. RESOLUTION NO. 1608 -88 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 105 EAST JEFFERSON BLVD., SOUTH BEND, INDIANA AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. (SOUTH BEND ASSOCIATES LIMITED PARTNERSHIP) WHEREAS, a petition for real property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly know as 105 E. Jefferson Blvd., South Bend, Indiana, and which is more particularly described as follows: Lot 41 and S 1/2 lot 42 O. P. South Bend, in the Township of South Bend Portage and the County of_St. Joseph, in the State of Indiana. 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; and 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, 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 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 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 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 education, 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 III of the Petition for real property tax abatement consideration and that the completed Statement of Benefits From 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 desianatina this area as an Rnnnnmin Revitalizatinn Area frn nnrnnsas of