Designating Tax Abatement - Mary Crest Amoco 2302, 2304, 2306 Western Ave. (6 Years Real Property)

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SUBSTITUTE RESOLUTION NO. 88 -23 Resolution No. 1605 -88 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN aEAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 2302, 2304, 2306 WESTERN AVENUE SOUTH BEND, INDIANA 46619 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT (MARY CREST AMOCO) WHEREAS, a petition for real property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the are commonly known as 2302 Western Avenue, 2304 Western Avenue, and 2306 Western Avenue, South Bend, IN 46619, and which is more particularly described as follows: Lots Numbered Three Hundred Sixty -five (365), Three Hundred Sixty -six (366) and Three Hundred Sixty -seven (367) in Summit Place Second Addition to the City of South Bend, in St. Joseph County, Indiana. 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 Section 2 -76: WHEREAS, The Department of Economic Development has concluded as investigation 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 sea., and South Bend Municipal Code Section 2 -76. SECTION II. The Common Council hereby determines and finds the following: A. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; B. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably by expected to result from the proposed described redevelopment of rehabilitation; C. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably