12-12-88 Council Meeting Minutes

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SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for purposes of tax abatement. Such designation is for personal property tax abatement only and is limited to two (2) calendar years from the date of the 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 property deduction for a period of three (3) 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/ John Voorde Member of the Common Council A public hearing was held on the resolution at this time. Ernest Szarwark, attorney, made the presentation for the resolution. He indicated office space is inadequate for existing operations, much less for planned expansion to begin as early as next year. He indicated this expansion is necessary in order to keep up with competition. Council Member Zakrzewski made a motion to adopt this resolution, seconded by Council Member Duda. The resolution was adopted by a roll call vote of eight ayes. RESOLUTION NO. 1681 -88 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 113 EAST WAYNE STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT FOR 113 EAST WAYNE. WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 113 E. Wayne Street, South Bend, Indiana, and which is more particularly described as follows: 113 East Wayne Street in City of South Bend, in St. Joseph County, Indiana, comprising the east 75 feet of Lot 53 and the east 75 feet of Lot 53 and the east 75 feet of the south one -half of lot 54, all as shown on the Original Plat of the Town, now City, of South Bend. 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; and WHEREAS, the Department of Economic Development has concluded an investigation and prepared a report with 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, et seq., 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 rehabilitation7 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.