HomeMy WebLinkAbout4613-17 Confirming Area Designation 401 E. Colfax Ave as Economic Revitalization Area for Commerce Center Development LLCAttest:
RESOLUTION
No. 4613 -17
Passed by the Common Council of the City of South Bend, Indiana
January 23, 20---j —7 .
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
January 24, 20 17
Approved and signed by me 20 (1 .
City Clerk
RESOLUTION NO. J+Lr 13- I-1
A RESOLUTION CONFIRMING THE ADOPTION OF A
DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY
KNOWN AS
401 E. Colfax Ave., South Bend, IN 46617
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A (10) TEN YEAR REAL
PROPERTY TAX ABATEMENT FOR
Commerce Center Development, LLC
WHEREAS, the Common Council of the City of South Bend, Indiana, has
adopted a Declaratory Resolution designating certain areas within the City as Economic
Revitalization Areas for the purpose of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area commonly known as
401 E. Colfax Ave., South Bend, IN 46617 and which is more particularly described as
follows:
LOTS 19 THRU 24 & EAST 22' VAC BRIDGE ST & WEST 1/2 EAST MILL RACE &
VAC ALLEY BET LOTS 21 & 22 OP LOWELL
and which has Key Number 018 -5003 -0066 be designated as an Economic Revitalization
Area; and
WHEREAS, notice of the adoption of a Declaratory Resolution and the public
hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5;
and
WHEREAS, the Council held a public hearing for the purposes of hearing all
remonstrances and objections from interested persons; and
WHEREAS, the Council has determined that the qualifications for an economic
revitalization area have been met.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
South Bend, Indiana, as follows:
SECTION I. The Common Council hereby confirms its Declaratory Resolution
designating the area described herein as an Economic Revitalization Area for the
purposes of tax abatement. Such designation is for Real Property tax abatement only and.
is limited to (4) four calendar years from the date of adoption of the Declaratory
Resolution by the Common Council rather than the (2) two calendar year designation due
to the size, scope, and complexity of this project
SECTION II. The Common Council hereby determines that the property owner is
qualified for and is granted real property tax deduction for up to a period of ten (10) years
as provided in the alternate abatement schedule below pursuant to Indiana Code 6 -1.1-
12.1-17 and further determines that the petition, the Memorandum of Agreement between
the Petitioner and the City of South Bend, and the Statement of Benefits comply with
Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code
6- 1.1 -12 et seq.
Real Property
Year Abatement
1
100%
2
100%
3
100%
4
100%
5
100%
6
95%
7
95%
8
95%
9
95%
10
95%
SECTION III. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approved by the Mayor.
PRESENTED - 23 -1-1
NO? APPROVED
,2DOPTFO 1 - 23 - 1'1
Member of the Common Council
Filed in Clerk's Office
IKAREEI,AAH FOWL ER
CITY CLERK, SOUTH BEND, IN