Designating Tax Abatement - Center Management corporation 716 N. Niles Ave. (6 Year Real Property)

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RESOLUTION NO. %5'3 a- R / A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 716 North Niles Avenue AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. 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 area commonly known as 716 North Niles Avenue, South Bend, Indiana, and which is more particularly described as .follows: A parcel of land being a part of the North Half of the South Half of Section One, Township 37 North, Range 2 East, South Bend, St. Joseph County, Indiana and being more particularly described as follows, viz: Beginning at a point on the South line of Corby Street, South 89° 48' 40" West 120.00 feet from the West line of a fourteen (14) foot alley on the West side of Cedar Heights Addition to the City of South Bend, Indiana, thence continuing along said South line of Corby Street, South 89° 48' 40" West, 258.66 feet; thence South 16° 17' 47" West 141.77 feet; thence South 64° 53' 57" West, 200.00 feet to the Easterly line of Niles Avenue; thence South 25° 06 ' 03" East along said Easterly line of Niles Avenue 312.26 feet; thence North 64° 53' 57" East, 255.00 feet thence south 25° 06' 03" East, parallel with said Easterly line of Niles Avenue 20.00 feet; thence North 71° 52' 29" East 250.00 feet thence North 0° 31' 18" West 170.00 feet, thence South 89° 48' 40" West parallel with the Southerly line of Corby Street, 120 feet thence North 0° 31' 18" West parallel with said West line of fourteen (14) foot alley 150.00 feet to the point of beginning. Subject to legal Highways. 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; 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 Section 2-76, 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. That the Common Council hereby determines and finds that the estimate of the number of individuals that will be employed or whose employment will be retained and the estimate of the annual salaries of those individuals and the estimate of the value of the redevelopment or rehabilitation and any other benefits about which the body designating the economic revitalization area requires information are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation. SECTION II. That the Common Council hereby determines and finds the following: (A) If the proposed redevelopment or rehabilitation does not occur, the approximate current year tax rate for the City would remain at 15.0781; (B) If the proposed redevelopment or rehabilitation does occur and no deduction is granted, the approximate current year tax rate for the City would be 15.0542;