Designating Tax Abatement - Relaxation, Inc. d/b/a La-Z-Boy Furniture Galleries 211 W. LaSalle (10 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 301 NORTH MAIN STREET 211 WEST LASALLE, SOUTH BEND, INDIANA 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR RELAXATION, INC. D /B /A LA -Z -BOY FURNITURE GALLERIES 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 301 North Main Street, 211 West LaSalle, South Bend, Indiana, and which is more particularly described as follows: LOTS 214, 215 & 216 IN THE "ORIGINAL TOWN (NOW CITY) OF SOUTH BEND ", AS RECORDED IN THE RECORDS OF ST. JOSEPH COUNTY, INDIANA EXCEPTING: BEGINNING AT A POINT 83.60 FT. WEST OF THE N.E. CORNER OF SAID LOT #214; THENCE, EAST ALONG THE NORTH LINE OF SAID LOT, 83.60 FT.; THENCE, SOUTH ALONG THE EAS'P LINE OF SAID LOT, 33.00 FT.; THENCE, WEST, 83.60 FT. TO A POINT WHICH IS 32.85 FT. SOUTH OF THE POINT OF BEGINNING; THENCE, NORTH, 32.85 FT. TO THE POINT OF BEGINNING, and which has Key Numbers 18 -1008- 028902 and 18 -1008 -0290 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6- 1.1- 12.1 -1 et sec., and South Bend Municipal Code Sections 2 -76 et sec., 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, et sea., and South Bend Municipal Code Sections 2 -76, et sec., 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 sea., 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 redeveloped 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 by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation;