Designating Tax Abatement - Macri's Italian Bakery Inc. 212, 214, 214 1/2 N. Ave. (6 Year Real Property)

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RESOLUTION NO. v22d SCSI 92 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 212, 214, 214 1/2 N. NILES AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX (6) YEAR REAL PROPERTY TAX ABATEMENT FOR MACRI'S ITALIAN BAKERY, INC. 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 212, 214, 214 1/2 N. Niles Ave., South Bend, Indiana, and which is more particularly described as follows: (212 N. Niles) 14 Ft. S SIDE 93 FT W END LOT 82 AND 20 FT N SIDE 93 FT W END LOT 83 O P LOWELL. Key No. 18 5005 0115 (214 N. Niles) 52x93 FT NW COR LOT 82 0 P LOWELL. Key No. 18 5005 0113 (214 1/2 N. Niles) Key No. 18 5005 0114 72 FT E END LOT 82 & 20X72 FT NE COR LOT 83 O P LOWELL and which has Key Number (see above), 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 Area 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 I.C. 6 -1.1- 12.1 -1 et sec., and qualifies under the provisions of South Bend Municipal Code Section 2 -76 et sec., 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 by the Petitioner can reasonably be expected to result from the proposed described redevelopment of rehabilitation: D. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and