Designating Tax Abatement - Sidney Moore, Jr. & Dorothy D. Moore 645 Wilber St. (10 Year Real Property)

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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; D. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed redevelopment or rehabilitation; E. That the other benefits requested are benefits that to result from the proposed rehabilitation; and about which information was can be reasonably expected described redevelopment or F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits set forth as Sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The petitioner qualifies for three (3) years of real property tax abatement under Section 2 -82 (Industrial Development City wide) of the Tax Abatement Ordinance (No. 8065 -90). However, the petitioner is requesting a 10 year abatement. The petitioner feels that a special exception should be considered because the property lies immediately adjacent to the Tax Abatement Impact Area and adjacent to the Redevelopment Blighted Area, and is within the Neighborhood Revitalization Area. When the boundaries were drawn many years ago, they were general boundaries. Because of the passage of time and the condition and use of property near the designated areas, it would be logical to include those areas when considering this petition. Additionally, the purpose in creating the tax abatement program by the City of South Bend was to encourage such people as Astar, Inc., and Sidney Moore, Jr., to build and expand their business in areas of the City which were in need of improvement. Several other benefits would also be realized by granting the petition herein. First, the actual construction of the proposed building and the remodeling of the existing building would provide a contract job for a local contractor and provide jobs for those employees who work for that local contractor. Another benefit would be to improve an area of the City which rightfully belongs in one of the target areas even though the boundaries do not presently include it. This would be a significant improvement on what is presently a vacant lot and would tie together a manufacturing facility providing a sizeable