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RESOLUTION NO. ` (. �; k - g' �- <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 113 EAST WAYNE STREET AN ECONOMIC REVITALIZATION <br />AREA FOR PURPOSES OF REAL PROPERTY <br />TAX ABATEMENT FOR 113 EAST WAYNE. <br />WHEREAS, a petition for real property tax abatement has <br />been filed with the City Clerk for consideration by the <br />Common Council of the City of South Bend, Indiana <br />requesting that the area commonly known as 113 East Wayne <br />Street, South Bend, Indiana, and which is more particularly <br />described as follows: <br />113 East Wayne Street in the City of South Bend, in St. <br />Joseph County, Indiana, comprising the east 75 feet of Lot 53 <br />and the east 75 feet of the south one -half of Lot 54, all as <br />shown on the Original Plat of the Town, new City, of South <br />Bend. <br />WHEREAS,the Department of Economic Development has <br />concluded an investigation and prepared a report with <br />information sufficient for the Common Council to determine <br />that the area qualifies as an Economic Revitalization Area <br />under Indiana Code 6 -1.1- 12.1 -1, et seq. and South Bend <br />Municipal Code section 2 -76, et seq., and has further <br />prepared maps and plats showing the boundaries and such <br />other information regarding the area in question as <br />required by law; and <br />WHEREAS, the Human Resources and Economic Development <br />Committee of the Common Council has reviewed said report and <br />recommended to the Common Council that the area qualifies as <br />an Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of <br />the City of South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and <br />finds that the Petition for Real Property Tax Abatement and <br />the Statement of Benefits form completed by the Petitioner <br />meet the requirements of I.C. 6 -1.1- 12.1 -1 et se q., and <br />qualifies under the provisions of South Bend Municipal Code <br />Section 2 -76 et seq., for tax abatement. <br />SECTION II. The Common Council hereby determines and <br />finds the following: <br />A. That the estimate of the value of the redevelopment <br />or rehabilitation is reasonable for projects of this nature; <br />B. That the estimate of the number of individuals who <br />will be empolyed or whose employment will be retained can <br />resonably be expected to result from the proposed described <br />redevelopment or rehabilitation; <br />C. That the estimate of the annual salaries of those <br />