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Addition; thence West 149 '/4 feet to the East line of said Stover - Longley Addition; <br />thence North 107 feet to the place of beginning. <br />and which has Key Number 71- 08 -24- 101 - 003.000 -026, be designated as an Economic <br />Revitalization Area under the provisions of Indiana Code § 6 -1.1 -12.1 et seg., and South Bend <br />Municipal Code Sections 2 -76 et seg., and; <br />WHEREAS, the Department of Community Investment has concluded an investigation <br />and prepared a report with information sufficient for the Common Council to determine that the <br />area qualifies as an Economic Revitalization Area under Indiana Code § 6 -1.1 -12.1, et seq., and <br />South Bend Municipal Code Sections 2 -76, et semc ., and has further prepared maps and plats <br />showing the boundaries and such other information regarding the area in question as required by <br />law; and <br />WHEREAS, the Community Investment Committee of the Common Council has <br />reviewed said report and recommended to the Common Council that the area qualifies as an <br />Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the Petition for Real <br />Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet <br />the requirements of Indiana Code § 6 -1.1 -12.1 et se_{c ., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds the following: <br />A. That the description of the proposed redevelopment or rehabilitation meets the <br />applicable standards for such development; <br />B. That the estimate of the value of the redevelopment or rehabilitation is reasonable <br />for projects of this nature; <br />C. That the estimate of the number of individuals who will be employed or whose <br />employment will be retained by the Petitioner can reasonably be expected to result from the <br />proposed described redevelopment or rehabilitation; <br />D. That the estimate of the annual salaries of those individuals who will be employed <br />or whose employment will be retained by the Petitioner can be reasonably expected to result <br />from the proposed redevelopment or rehabilitation; <br />E. That the other benefits about which info_mation was requested are benefits that <br />can be reasonably expected to result from the proposed described redevelopment or <br />rehabilitation; and <br />