Designating Tax Abatement - G & M Properties 2517 & 2525 W. Ewing Ave and 2502, 2510, 2602 & 2612 W. Calvert St. (5 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 2517 AND 2525 WEST EWING AVENUE 2502, 25109 2602 AND 2612 WEST CALVERT STREET RESIDENTIALLY DISTRESSED AREAS 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 2517 and 2525 West Ewing Avenue and 2502, 2510, 2602 and 2612 West Calvert Street, South Bend, Indiana, and which are more particularly described as follows: Street Address Legal Description Key Number 2517 West Ewing Avenue Lot 253A Homeland 2nd Addition 18- 8105 -3988 2525 West Ewing Avenue Lot 255A Homeland 2nd Addition 18- 8105 -3986 2502 West Calvert Street Lot 224A Homeland 2nd Addition 18- 8103 -3890 2510 West Calvert Street Lot 226A Homeland 2nd Addition 18- 8103 -3888 2602 West Calvert Street Lot 282A Homeland 3rd Addition 18- 8106 -4030 2612 West Calvert Street Lot 284A Homeland 3rd Addition 18- 8106 -4028 be designated as Residentially Distressed Areas under the provisions of Indiana Code 6- 1.1 -12.1- 1 et seq., and South Bend Municipal Code Sections 2 -76 et sep., 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 g�q., and South Bend Municipal Code Sections 2 -76, et se ., 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 H. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment meets the applicable standards for such development. B. That the estimate of the value of the redevelopment is reasonable for projects of this nature; C. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment; and