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10-12-15 Agenda, Packet & Committee Meeting Notice
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10-12-15 Agenda, Packet & Committee Meeting Notice
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
10/12/2015
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s -o 6Co-j_< <br /> BILL NO. <br /> ORDINANCE NO. <br /> AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH <br /> BEND, INDIANA,APPROVING A RESOLUTION OF THE SOUTH BEND <br /> ECONOMIC DEVELOPMENT COMMISSION AND ESTABLISHING AN <br /> ECONOMIC DEVELOPMENT TARGET AREA <br /> (Former Chase Tower and Adjacent Parking Lot) <br /> STATEMENT OF PURPOSE AND INTENT <br /> Pursuant to its authority granted by Indiana Code Section 36-7-12 et seq., the <br /> South Bend Economic Development Commission (the "Commission"), in furtherance of <br /> economic development within the City of South Bend, Indiana (the "City"), has <br /> investigated, studied and surveyed the need for additional job opportunities within the <br /> City and has made recommendations concerning economic development possibilities <br /> within the City. Based on its investigatory action, studies and surveys, the Commission <br /> has determined that it is necessary to designate a specific geographic area within the City <br /> as an Economic Development Target Area ("EDTA") because such area has become <br /> undesirable or impossible for normal development and occupancy due to lack of <br /> development, cessation of growth, deterioration of improvements or character of <br /> occupancy, age, obsolescence, substandard buildings or other factors that have impaired <br /> values or prevented a normal development of property or use of property. <br /> The property known as the former Chase Tower and adjacent parking lot, located <br /> generally at 211 Washington Street, South Bend, Indiana (the "Property") has become <br /> undesirable or impossible for normal development and occupancy because of a lack of <br /> development, cessation of growth, deterioration of improvements or character of <br /> occupancy, age, obsolescence, substandard buildings, or other factors that have impaired <br /> values or prevented a normal development or use of property. More specifically, the <br /> Property, including its facade, plumbing, HVAC system, parking structure concrete, and <br /> elevators, has deteriorated and become obsolete to an extent that it cannot support normal <br /> development and occupancy. Further, the Property is vacant, and its assessed value <br /> reflects that it is obsolete. <br /> Based upon all of the above facts, the Commission at a regular meeting held on <br /> October 5, 2015, approved Resolution No. 2015-03, a true copy of which is attached <br /> hereto and incorporated herein as Exhibit A. The Resolution designates the Property and <br /> its adjacent parking lot, collectively comprised of current parcel numbers 018-1008-0321 <br /> and 018-1012-047701 (which parcel numbers are subject to change as a result of an <br /> anticipated subdivision of the Property), as an Economic Development Target Area, <br /> 1 <br />
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