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Designating Tax Abatement - 1801 Commerce Drive - Michael J. Morris (8 Year Real Property)
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Designating Tax Abatement - 1801 Commerce Drive - Michael J. Morris (8 Year Real Property)
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Last modified
11/5/2014 11:31:20 AM
Creation date
10/22/2014 3:37:09 PM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
1/9/2006
Ord-Res Number
3552-06
Bill Number
06-05
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NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the Petition for <br />Real Property Tax Abatement and the Statement of Benefits form completed by the <br />Petitioner meet 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 <br />the applicable standards for such development; <br />B. That the estimate of the value of the redevelopment or rehabilitation is <br />reasonable for projects of this nature; <br />C. That the estimate of the number of individuals who will be employed or <br />whose employment will be retained by the Petitioner can reasonably be expected to result <br />from the proposed described redevelopment or rehabilitation; <br />D. That the estimate of the annual salaries of those individuals who will be <br />employed or whose employment will be retained by the Petitioner can be reasonably <br />expected to result from the proposed redevelopment or rehabilitation; <br />E. That the other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed described redevelopment or <br />rehabilitation; and <br />F. That the totality of benefits is sufficient to justify the requested deduction, <br />all of which satisfy the requirements of Indiana Code § 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and finds that the proposed <br />described redevelopment or rehabilitation can be reasonably expected to yield benefits <br />identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition <br />for Real Property Tax Abatement Consideration, the Memorandum of Agreement <br />between the Petitioner and the City of South Bend, and that the Statement of Benefits <br />form completed by the petitioner, said form being prescribed by the State Board of <br />Accounts, are sufficient to justify the deduction granted under Indiana Code § 6- 1.1 -12.1- <br />3. <br />SECTION IV. The Common Council hereby accepts the report and recommendation of <br />the Community and Economic Development Committee that the area herein described be <br />designated as an Economic Revitalization Area and hereby adopts a Resolution <br />designating this area as an Economic Revitalization Area for purposes of real property <br />tax abatement. <br />
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