Designating Tax Abatement - The Priemer/McCallum Project 421 S. Main & 201 W. Monroe (3 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 421 S. MAIN AND 201 W. MONROE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE YEAR REAL PROPERTY TAX ABATEMENT FOR THE PRIEMER /McCALLUM PROJECT 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 421 S. Main and 201 W. Monroe, South Bend, Indiana, and which is more particularly described as follows: 52 1/2 feet by 110 feet, southeast part of lot 42, Martin's addition and which has Key Number 1830150574, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 a sea.. and South Bend Municipal Code Section 2 -76 g�t_ sea.. 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 -1, and South Bend Municipal Code Section 2 -76 It 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 Human Resources 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 L. 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, and qualifies under the relevant provisions of South Bend Municipal Code Sections 2 -76 et sec., for tax abatement.