08-25-08 Council Meeting Agenda & Packet

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thence South 53 °08'24" West, 188.28 feet along the northwesterly line of said parcel to the point of beginning, and containing 1.490 acres more or less, and which is contained in two original parcels with tax key numbers 18 -5102 -3579 and 17 -1017- 0406 (the "Property "), be designated as an Economic Revitalization Area under the provisions of Indiana Code sections 6- 1.1- 12.1 -1 et se ., and South Bend Municipal Code sections 2 -76 et M.; and WHEREAS, the proposed site, development and use of the Property as a Certified Technology Park is unique and is not specifically contemplated in South Bend Municipal Code sections 2 -76 et M. (the "Municipal Code ") as an area or use which is "pre- designated" for tax abatement consideration using the general standards for tax abatement consideration under the Municipal Code; and WHEREAS, the Common Council has authority under Municipal Code Section 2 -84 et se ., to declare any property within the City as an economic revitalization area, and WHEREAS, Petitioner has requested that the Common Council grant a special exception to consider designating the Property as an Economic Revitalization Area for purposes of real and personal property tax abatement related to the development of the Innovation Park. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Petitioner has presented testimonial and documentary evidence, including without limitation, the Petitions which detail the proposed investment in and development of the Innovation Park, together with estimates of benefits which are reasonably expected to result from the Innovation Park. SECTION II. Based on information presented, the Common Council hereby makes the following findings in support of this resolution: A. The Petitioner and the City of South Bend have cooperated to identify the Innovation Park as the site for a technology park; B. Applications have been filed by the City of South Bend for the Innovation Park, together with the Studebaker Industrial Park, to be designated as sites comprising a Certified Technology Park under Indiana law; C. The Petitioner intends that the Innovation Park will be the site of office and laboratory facilities which will be used to research, develop and commercialize products and solutions based on intellectual property and other research; D. The Studebaker Industrial Park is anticipated to serve as a satellite site for facilities to accommodate business activity emerging from the commercialization of research and innovations from the Innovation Park;