Designating Tax Abatement - James A. & Judith Watts d/b/a Sm. Or. Cases Inc. 4622 Burnett Dr. South (3 Year Real Property)

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C. That the estimate of the number of individuals be retained by the Petitioner can reasonably be redevelopment or rehabilitation; who will be employed or whose employment will expected to result from the proposed described 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 of 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 F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6- 1.1- 12.1 -3. SECTION M. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits set forth as Sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6- 1.1- 12.1 -3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the are herein described be designated an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. Pursuant to Section 2 -84 of the South Bend Municipal Code entitled "Council's Authority to Enlarge Real Property Tax Abatement General Standards ", the Council declares an exemption to its local guidelines in compliance that 1) the petitioner meets 86% of his square footage requirements for a three (3) year real property tax abatement and 2) that without tax abatement it would cause a financial difficulty with regard to financing whereby the business could not go forward. SECTION VII. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of three (3) years. SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION IX. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. PRESENTED 6 -)y�G� NOT APPROVED ADOPTED 6- -96 A3 nlwCMLt Cb Member of the Common Council 2