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WHEREAS, the Department of Community and Economic Development <br />has concluded an investigation and prepared a report with <br />information sufficient for the Common Council to determine that the <br />area qualifies as an Economic Revitalization Area under Indiana <br />Code 6 -1.1 -12.1, et sue., and South Bend Municipal Code Sections 2- <br />76, et sea., and has further prepared maps and plats showing the <br />boundaries and such other information regarding the area in <br />question as required by law; and <br />WHEREAS, the Community and Economic Development Committee of <br />the Common Council has reviewed said report and recommended to the <br />Common Council that the area qualifies as an Economic <br />Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the <br />City of South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the <br />Petition for Real Property Tax Abatement and the Statement of <br />Benefits form completed by the Petitioner meet the requirements of <br />Indiana Code 6 -1.1 -12.1 et sea., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds the <br />following: <br />A. That the description of the proposed redevelopment or <br />rehabilitation meets the applicable standards for such development. <br />B. That the estimate of the value of the redevelopment or <br />rehabilitation is reasonable for projects of this nature; <br />C. That the estimate of the number of individuals who will <br />be employed or whose employment will be retained by the Petitioner <br />can reasonably be expected to result from the proposed described <br />redevelopment or rehabilitation; <br />D. That the estimate of the annual salaries of those <br />individuals who will be employed or whose employment will be <br />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 information was <br />requested are benefits that can be reasonably expected to result <br />from the proposed described redevelopment or rehabilitation; and <br />F. That the totality of benefits is sufficient to justify <br />the requested deduction, all of which satisfy the requirements of <br />Indiana Code 6 -1.1- 12.1 -3. <br />2 <br />