HomeMy WebLinkAboutConfirming the Adoption of a Declaratory Resolution - Catalyst LLC (7 Year Reeal Property)Attes
RESOLUTION
4378 -14
Passed by the Common Council of the City of South Bend, Indiana
July 28,
14
20_
Presented by me to the Mayor of the City of South Bend, Indiana
July 29, 20 14
City Clerk
dent of Common Council
Approved and signed by me �Wty 3,9 2011.
.
q
City Clerk
RESOLUTION NO. 14 3 �
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
Lot 7 Ignition Park Major Subdivision
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A SEVEN (7) YEAR REAL
PROPERTY TAX ABATEMENT FOR
CATALYST, LLC
WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a
Declaratory Resolution designating certain areas within the City as Economic Revitalization
Areas for the purpose of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area commonly known as Lot 7
Ignition Park Subdivision , South Bend, Indiana, and which is more particularly described as
follows:
A PART OF THE NORTHEAST QUARTER OF SECTION 14, TOWNSHIP 37 NORTH,
RANGE 2 EAST PORTAGE TOWNSHIP, CITY OF SOUTH BEND, ST. JOSEPH COUNTY,
INDIANA BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT
THE POINT OF THE INTERSECTION OF THE WEST LINE OF FRANKLIN STREET
WITH THE NORTH LINE OF STULL STREET; THENCE ALONG SAID NORTH LINE
FOR THE NEXT FIVE (5) COURSES, SOUTH 890- 21' -45" WEST A DISTANCE OF 448.14
FEET AND SOUTH 790- 04' -37" WEST A DISTANCE OF 143.69 FEET AND ALONG A
CURVE TO THE RIGHT HAVING A RADIUS OF 329.00 FEET AND HAVING AN ARC
DISTANCE OF 7.08 FEET, TO THE END OF A CHORD BEARING SOUTH 19 °- 31' -39"
EAST, AND HAVING A DISTANCE OF 7.08 FEET AND SOUTH 79 °- 04' -37" WEST A
DISTANCE OF 199.83 FEET AND ALONG A CURVE TO THE LEFT HAVING A RADIUS
OF 833.00 FEET AND HAVING AN ARC DISTANCE OF 56.34 FEET, TO THE END OF A
CHORD BEARING SOUTH 770- 08' -22" WEST, AND HAVING A DISTANCE OF 56.33 TO
A POINT OF INTERSECTION WITH THE EAST LINE OF IGNITION DRIVE SOUTH;
THENCE ALONG SAID EAST LINE FOR THE NEXT FOUR (4) COURSES, NORTH 63°-
37'-23" WEST A DISTANCE OF 59.76 FEET AND NORTH 190- 54' -55" WEST A DISTANCE
OF 129.95 FEET AND ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 167.00
FEET AND HAVING AN ARC DISTANCE OF 58.65 FEET, TO THE END OF A CHORD
BEARING NORTH 10 °- 03' -37" WEST, AND HAVING A DISTANCE OF 58.34 FEET AND
NORTH 000- 00' -00" EAST A DISTANCE OF 507.17 FEET; THENCE NORTH 890- 40' -25"
EAST A DISTANCE OF 935.86 FEET TO THE WEST LINE OF SAID FRANKLIN STREET;
THENCE SOUTH 000- 55' -14" EAST ALONG SAID WEST LINE A DISTANCE OF 629.46
FEET TO THE POINT OF BEGINNING.
CONTAINING 14.10 ACRES MORE OR LESS, AND ALSO TO BE LATER KNOWN AS
LOT # 7 OF THE PLAT OF "IGNITION PARK MAJOR SUBDIVISION, SECTION TWO"
AS RECORDED IN THE RECORDS OF THE ST. JOSEPH COUNTY, INDIANA
RECORDER'S OFFICE.
SUBJECT TO ALL LEGAL RIGHT -OF -WAYS, AND EASEMENTS OF RECORD.
and which has Key Numbers which are not yet platted be designated as an Economic
Revitalization Area; and
WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing
before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and
WHEREAS, the Council held a public hearing for the purposes of hearing all
remonstrances and objections from interested persons; and
WHEREAS, the Council has determined that the qualifications for an economic
revitalization area have been met.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the
area described herein as an Economic Revitalization Area for the purposes of tax abatement.
Such designation is for Real property tax abatement only and is limited to two (2) calendar years
from the date of adoption of the Declaratory Resolution by the Common Council.
SECTION II. The Common Council hereby determines that the property owner is qualified for
and is granted Real property tax deduction for up to a period of seven (7) years as shown by the
attachment pursuant to Indiana Code 6 -1.1- 12.1 -17 and further determines that the petition, the
Memorandum of Agreement between the Petitioner and the City of South Bend, and the
Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of
South Bend and Indiana Code 6- 1.1 -12 et sect.
SECTION III. This Resolution shall be in full force and
Common Council and approved by the Mayor.
of
PRESENT V � _r 1 I
]ot "ate (!
adoption by the
Filed in Office
JUL 22 ZU14
JOtIk `d�Ei��`JE
CITY CLERK, SOUTH SEND, IN
227 W. JEFFERSON BOULEVARD
SUITE 1400 S.
SOUTH BEND, IN 46601 -1830
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR
COMMUNITY INVESTMENT
June 3, 2014 SCOTT FORD, EXECUTIVE DIRECTOR
Council Member Gavin Ferlic, Chairperson
Community Investment Committee
South Bend Common Council
4th Floor, County City Building
South Bend, IN 46601
RE: Real Property Tax Abatement Petition for:
CATALYST, LLC
Dear Council Member Ferlic:
PHONE: 574 /235 -9371
FAX: 574/235 -9021
Please find attached the Department of Community Investment's report on a real property
tax abatement petition for the above - referenced petitioner. Also attached is a copy of the
petition, Statement of Benefits form, and supporting information. The project calls for the
construction of two multi - tenant facilities in Ignition Park.
The report contains the Department's findings relative to the above petition. The total
cost for the construction is estimated at $12,000,000 over a two year period. The project
meets the qualifications for a seven -year real property tax abatement and a representative
from Catalyst, LLC will be available to meet with the Committee on Monday, July 14,
2014.
Should you or any of the other Council members have any questions concerning the
report, or need additional information, please feel free to call me at 235 -9339.
Sincerel y,
/
1l
Brock Zeeb
Director Economic Resources
Attachments
cc: South Bend Common Council Members
Scott Ford
Chris Fielding
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
JITIN KAIN PAMELA C. MEYER CHRIS FIELDING DONALD E. INKS
227 W. JEFFERSON BOULEVARD
SUITE 1400 S.
SOUTH BEND, IN 46601 -1830
PHONE: 574/235 -9371
FAX: 574/235 -9021
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR
COMMUNITY INVESTMENT
SCOTT FORD, EXECUTIVE DIRECTOR
TAX ABATEMENT REPORT I FIsed
TO: SOUTH BEND COMMON COUNCIL ,,• 2074
FROM: KATHY HAHN s 0Vpr' CIr4Cti 0^
IN
SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR:
CATALYST, LLC
DATE: June 3, 2014
On June 2, 2014 , a petition for real property tax abatement consideration for property located in
Ignition Park was filed with the City Clerk by Catalyst, LLC. Pursuant to Chapter 2, Article 6,
Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition was referred to the
Department of Community Investment for purposes of investigation and preparation of a report
determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1 -12.1
and whether all zoning requirements have been met.
The Department of Community Investment has reviewed the petition, investigated the area, and
makes the following report.
PROJECT SUMMARY
The project involves the development of two multi- tenant facilities in Ignition Park in coordination
with the South Bend Redevelopment Commission. The project cost is $12,000,000 over a two year
period.
Only multi - family, hotel /motel, industrial, and warehousing are targeted industries in the Tax
Abatement Ordinance for development in the Airport Economic Development Area; therefore, this
abatement will need to be approved by the Common Council as an exception to the Code.
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
JITIN KAIN PAMELA C. MEYER CHRIS FIELDING DONALD E. INKS
South Bend Common Council
RE: Tax Abatement for Catalyst, LLC
June 3, 2014
Page 2
EMPLOYMENT IMPACT
Taxes abated for the seven year abatement are $1,099,338. Taxes paid for the seven year term are
$1,491,684.
Per the petition, it is estimated that the project will create thirty -two (32) new, permanent full -time
positions and zero (0) part-time positions with an annual payroll of $960,000 by the end of 2018.
The project will not maintain any jobs.
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted finds that the Petitioner, Catalyst, LLC has
not been granted any previous abatements.
2. The Building Commissioner has reviewed the petition and finds the property to be properly
zoned for the proposed project.
3. The property is located in the Airport Economic Development area.
4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets the
qualifications for a (7) seven -year real property tax abatement under section 2 -84 Council's
Authority to Enlarge Real Property Tax Abatement General Standards.
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