Designating Tax Abatement - Beeler & Brown Properties LLC & Davey LLC Lot 3 West Cleveland Road Industrial Park (6 Year Real Property)

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RESOLUTION NO. 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 LOT #3 WEST CLEVELAND ROAD INDUSTRIAL PARK (4167 MEGHAN BEELER COURT) AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX (6) YEAR REAL PROPERTY TAX ABATEMENT FOR BEELER & BROWN PROPERTIES, L.L.C. AND DAVEY, L.L.C. 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 Northeast Corner of Chapin Street and Western Avenue, South Bend, Indiana, and which is more particularly described as follows: Lot Numbered Three (3) as shown on the recorded Plat of West Cleveland Road Industrial Park, Section One, recorded November 6, 1997 as Document Number 9746182 in the Office of the Recorder of St. Joseph County, Indiana and which has Key Number 25- 1013- 020702, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et se q., and South Bend Municipal Code Sections 2 -76 et seq., and; WHEREAS, the Department of Economic Development has concluded an investigation and prepared a report 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 SeMc ., and South Bend Municipal Code Sections 2 -76, et sea., 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 of the 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 sea., and qualifies under the relevant provisions of South Bend Municipal Code-Sections 2 -76 et sea., 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; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation; D. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and