Designating Tax Abatement - Bee & Deb, LLC. 4246 Meghan Beeler Ct. (3 Year Real Property)

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RESOLUTION NO. 2, M 5 -0� A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 4246 MEGHAN BEELER COURT AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR BEE & DEB, LLC WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area commonly known as 4246 MEGHAN BEELER COURT, South Bend, Indiana, and which is more particularly described as follows: THAT PART OF THE NORTHWEST QUARTER OF SECTION 21, TOWNSHIP 38 NORTH, RANGE 2 EAST, GERMAN TOWNSHIP, CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA WHICH IS DESCRIBED AS: LOT 7A OF THE PLAT OF "WEST CLEVELAND ROAD INDUSTRIAL PARK, SECTION TWO" AS RECORDED BY DOCUMENT NO. 9818753 IN THE RECORDS OF THE ST. JOSEPH COUNTY, INDIANA RECORDER'S OFFICE. CONTAINING 5.30 ACRES MORE OR LESS. SUBJECT TO ALL LEGAL HIGHWAYS, EASEMENTS AND RESTRICTIONS OF RECORD. and which has Key Number 25- 1013 - 020710, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et se ., and South Bend Municipal Code Sections 2 -76 et se q., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepared areport with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1 -12.1, et sM., and South Bend Municipal Code Sections 2 -76, et se q., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Community and Economic Development Committee ofthe Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of Indiana Code 6 -1.1 -12.1 et se ., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development; B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature;