08-14-89 Council Meeting Minutes

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—T ..aar- _rr aiavm -emu _ .. __.. _...- __. ___. __. ..._._ ATiC-:TiS'F- 1-$ - -1$R� A parcel of land being the East Half of the Southwest Quarter of Section 22, Township 38 North, Range 2 East, City of South Bend, German Township, St. Joseph County, Indiana and being more particularly described as follows: Commencing at the center of said Section 22; thence Southerly along the East line of the Southwest Quarter of said Section 22, a distance of 1140 feet; thence along a course having a deflection angle of 70 - 30' to the right from the preceding described course, a distance of 500 feet; thence along a course having a deflection angle of 45 - 00' to the left from the preceding described course,a distance of 38 feet; thence along a course having a deflection angle of 45 - 00' to the right from the preceding described course, a distance of 160 feet; thence along a course having deflection angle of 90 - 00' to the right from the preceding described course, a distance of 70 feet to the place of beginning for this description;; thence continuing along the Northwesterly projection of said last described course, a distance of 10 feet; thence along a course having a deflection angle of 90 - 00 from the preceding described course, 54.09 feet; thence Northerly along a course parallel with the East line of the Southwest Quarter of said Section 22,.a distance of 99.71 feet; thence Westerly along a course parallel with the North line of the Southwest Quarter of said Section 22, a distance of 260 feet; thence Northwesterly along a course parallel with the centerline of a public road now known as Portage Road, a distance of 458 feet; thence along a course having a deflection angle of 90 - 00' to the left from the preceding described course, a distance of 270 feet, more or less, to the centerline of said Portage Road a distance of 662 feet, more or less; thence along a course having deflection angle of 90 - 00' to the left from the preceding described course, a distance of 413 feet, more or less to the place of beginning containing 4.87 acres more or less. Subject to the legal rights of a public highway and any easements, covenants or restrictions of record. 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. 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 the 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 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/ Ann Puzzello Member of the Common Council