Designating Tax Abatement - Cooreman Real Estate Group Inc (5 Yr. Residential Property)

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6530 Lake Crest Circle 4821 Starboard Drive '',2;`- 4010-017711 025- 1010 - 017717 4829 Starboard Drive _ 025- 1010- 017730 _ _ 6530 Leeway Drive _ _ 025-1010-017719 6634 Leeway Drive 025- 1010 - 017724 _ 6735 Blackthorn Harbor Drive 025 -1010- 017403 _ 6747 Blackthorn Harbor Drive 025- 1010- 017428 4736 Blackthorn Harbor Drive 025- 1010- 017429 'I 4739 Blackthorn Harbor Drive 025 - 1010 - 017725 at this point and time, be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6 -1.1 -12.1 et M., and South Bend Municipal Code Sections 2 -76 et seq., 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 seg., and South Bend Municipal Code Sections 2 -k, et seg., 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; B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation. D. That the estimate of the annual salaries of those individuals who will be employed or whose employment wall be retained by the Petitioner can be reasonably expected to result from the proposed redevelopment or rehabilitation;