Designating Tax Abatement - Matthew R. Dee 840 Prairie Ave. (6 Year Real Property)

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RESOLUTION NO. 02 1,10 - p,�C A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF lUD1 ZI- AN OF A 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 840 Prairie Avenue, South Bend, Indiana, and which is more particularly described as follows: Parcel Number Three (3) in the Inner Belt Industrial Park, a Subdivision in the Southeast and Southwest Quarters of Section 11 and the Northeast Quarter of Section 14, all in Township 37 North, Range 2 East of the Second Principal Meridian, City of South Bend, Indiana, the plat of which is recorded in Plat Book 21, page I in the Office of the Recorder of St. Joseph County, Indiana, excepting therefrom the West 30 feet of the East 40 feet of vacated Prairie Avenue and which as Key Number 18- 3046 -1772, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et seq. and South Bend Municipal Code Sections 2 -76 et seq., 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 Are under Indiana Code 6 -1.1- 12.1 -1, 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 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 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 II. 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