Designating Tax Abatement - APS, Inc. dba Sergio's Pools & Spas 1919 S. Michigan St. (3 Year Real Property)

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RESOLUTION NO. A446 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 1919 South Michigan Street AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR APS. Inc- dba Sergio's Pools and Spas 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 1919 South Michigan Street, South Bend, Indiana, and which is more particularly described as follows: Ke�No• Leaal Description 18-8010-045501 S 1/2 LOT 3 & N 1/2 VAC ALLEY STOVER & WITWER ADD 18-8010-0456 1/2 VAC ALLEY BET LOTS 3 +4 & ALL LOT 4 STOVER & WITWER ADD 18-8010-0461 30 FT N SIDE LOT 5 STOVER & WITWER ADD 18-8010-0462 30 FT S SIDE LOT 5 10 FT N SIDE LOT 6 STOVER & WITWER ADD 18-8010-0463 LOT 6 EX 10 FT N SIDE STOVER & WITWER ADD and which Key No. (SEE ABOVE). be designated as an Economonic Revitalization Area under the provisions of Indiana Code 6 -1 .1 - 12.1 -1 et sea. and South Bend Municipal Code Sections 2 -76 et seq., and; WHEREAS, the Deparment of Economic Development has concluded an investigation and prepared a report with infomation sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code et seq., and South Bend Municipal Code Sections 2 -76, et seq., 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 Human Resources and Economic Develpment 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 -1 et seq., and qualifies under the relevant provisions of South Bend Municipal Code Sections 2 -76 et seq., for tax abatement. SECTION 11. 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;