Designating Tax Abatement - G & M Properties Various Addresses in South Bend (5 Year Real Property)

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RESOLUTION NO. cW5 " /S 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 1702 &1706 NORTH KALEY STREET 1902 & 1933 NORTH MEADE STREET 19349 19409 & 2004 NORTH FREMONT STREET 2021 NORTH OLIVE STREET A RESIDENTIALLY DISTRESSED AREA FOR PURPOSES OF A FIVE (5) YEAR REAL PROPERTY RESIDENTIAL TAX ABATEMENT FOR G & M PROPERTIES 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 areas commonly known as 1702 and 1706 N. Kaley Street; 1902 and 1933 N. Meade Street; 1934, 1940, and 2004 N. Fremont Street; and 2021 N. Olive Street, South Bend, Indiana, and which are more particularly described as follows: Street Address Legal Description Key Number 1702 N. Kaley Street Lot 420 Vernon Heights Addition 18- 2102 -3856 1706 N. Kaley Street Lot 419 Vernon Heights Addition 18- 2102 -3854 1902 N. Meade Street Lot 538 Vernon Heights Addition 18- 2096 -3650 1933 N. Meade Street Lot 527 Vernon Heights Addition 18- 2095 -3587 1934 N. Fremont Street Lot 574 Vernon Heights Addition 18- 2096 -3632 1940 N. Fremont Street Lot 575 Vernon Heights Addition 18- 2096 -3628 2004 N. Fremont Street Lot 576 Vernon Heights Addition 18- 2096 -3623 2021 N. Olive Street Lot 585 Vernon Heights Addition 18- 2096 -3616 be designated as Residentially Distressed Areas under the provisions of Indiana Code 6- 1.1 -12.1- 1 et sea., and South Bend Municipal Code Sections 2 -76 et sea., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the areas qualify as Residentially Distressed Areas under Indiana Code 6 -1.1- 12.1-1, et s—lec ., and South Bend Municipal Code Sections 2 -76, et seo., and has further prepared maps and plats showing the boundaries and such other information regarding the areas 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 areas qualify as Residentially Distressed Areas. 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 sea., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment meets the applicable standards for such development.