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SUBSTITUTE BILL NO. 92 -93
<br />RESOLUTION NO. /99,?-903
<br />A RESOLUTION OF THE COMMON COUNCIL OF THE
<br />CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS
<br />WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN
<br />AS 502 SOUTH FELLOWS AND 423 EAST SOUTH STREETS
<br />AN ECONOMIC REVITALIZATION AREA FOR PURPOSES
<br />OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR
<br />MONROE PARK APARTMENTS, L.P.
<br />WHEREAS, a petition for real property tax abatement has been filed with the City of South
<br />Clerk for consideration by the Common Council of the City of South Bend, Indiana
<br />requesting that the area commonly known as 502 South Fellows and 423 East South
<br />Streets, South Bend, Indiana, which is more particularly described as follows:
<br />A PARCEL OF LAND IN THE EAST HALF OF THE SOUTHWEST QUARTER
<br />OF SECTION 12, TOWNSHIP 37 NORTH, RANGE 2 EAST, PORTAGE
<br />TOWNSHIP, IN THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY,
<br />INDIANA, BEING LOTS 2,3 AND 4 OF JODON'S SUBDIVISION AS
<br />RECORDED IN BOOK 3, PAGE 12 AT THE ST. JOSEPH COUNTY
<br />RECORDER'S OFFICE IN SOUTH BEND, INDIANA.
<br />PARCEL OF LAND IN THE WEST HALF OF THE SOUTHWEST QUARTER
<br />OF SECTION 12, TOWNSHIP 37 NORTH, RANGE 2 EAST, PORTAGE
<br />TOWNSHIP, IN THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY,
<br />INDIANA, BEING LOTS 2, 3, 4, 5, 6, 7, 8, 15, 16 AND 17, OF JOHN
<br />RUSH'S 1ST ADDITION AS RECORDED IN BOOK 2, PAGE 53 AT THE ST.
<br />JOSEPH COUNTY RECORDER'S OFFICE IN SOUTH BEND, INDIANA
<br />and which has Key Numbers 18 -3030 and 18 -3027, be designated as an Economic
<br />Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et .req. and South
<br />Bend Municipal Code Section 2 -76 et seq., and;
<br />'DDl7fj0Z0Z*, the Department of Economic Development has concluded an investigation
<br />and prepared a report with information sufficient for the Common Council to determine that
<br />the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1, et
<br />seq., and South Bend Municipal Code Sections 2 -76, et .req., and has further prepared
<br />maps and plats showing the boundaries and such other information regarding the area in
<br />question as required by law; and
<br />V 3r)CV -0Z i, the Human Resources and Economic Development Committee of the
<br />Common Council has reviewed said report and recommended to the Common Council that
<br />the area qualifies as an Economic Revitalization Area.
<br />1ROM, VC TC 1&.0b(076VC,0 by the Common Council of the
<br />City of South Bend, Indiana, as follows:
<br />SECTION I. The Common Council hereby determines and finds that the Petition for Real
<br />Property Tax Abatement and the Statement of Benefits form completed by the Petitioner
<br />meet the requirements of Indiana Code 6 -1.1- 12.1 -1 et seq., and qualifies under the
<br />relevant provisions of South Bend Municipal Code Sections 2 -76 et seq., for tax
<br />abatement.
<br />SECTION II. The Common Council hereby determines and finds the following:
<br />A. That the description of the proposed redevelopment or rehabilitation meets the
<br />applicable standards for such development.
<br />B. That the estimate of the value of the redevelopment of rehabilitation is reasonable
<br />for projects of this nature;
<br />C. That the estimate of the number of individuals who will be employed or whose
<br />employment will be retained by the Petitioner can reasonable be expected to result from the
<br />proposed described redevelopment or rehabilitation;
<br />D. That the estimate of the annual salaries of those individuals who will be
<br />employed or whose employment will be retained by the Petitioner can be reasonably
<br />expected to result from the proposed redevelopment of rehabilitation;
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