25-39 Amending and Reconfirming Resolution - Real Property Tax Abatement for 505 South Michigan Street (Substitute)

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NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,Indiana, as follows: SECTION I. The Common Council hereby amends Resolution No.4972-22 to read in its entirety as follows: "WHEREAS,a petition for real property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana,requesting that the area located at 505 S. Michigan Street, South Bend, IN,which is more particularly described as: (1) 132 Ft E End Lot 19Martins Add (2)N 44'Lot 20 Martins Add (3) S 1-3 Lot 20 Martins Add (4)Lot 21 &N 1/2 Vac Alley S &Adj Martins Add and which has Key Numbers 71-08-12-306-010.000-026, 71-08-12-306-011.000-026, 71- 08-12-306-012.000-026, and 71-08-12-306-013.000-026 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq. and South Bend Municipal Code Sections 2-76 et seq.; and" "WHEREAS,the petitioner has agreed to and has accepted responsibility to report any changes in the Key Numbers and legal descriptions to the Department of Community Investment and to the Office of the City Clerk; and" "WHEREAS, the Department of Community Investment 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 et seq. and South Bend Municipal Code Sections 2-76 et seq., 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 Community Investment 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 Indiana Code 6-1.1-12.1 et seq. for tax abatement." "SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development;