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Addition; thence West 149 3/! 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 seq., and South Bend <br /> Municipal Code Sections 2-76 et sec., 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 sue., and <br /> South Bend Municipal Code Sections 2-76, et sue., 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 sue., 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 Petititner 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 inft..ination was requested are benefits that <br /> can be reasonably expected to result from the proposed described redevelopment or <br /> rehabilitation; and <br />