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HomeMy WebLinkAbout4693-17 Confirming Tax Abatement for River Park Leasing Company RESOLUTION No. 4693-17 Passed by the Common Council of the City of South Bend, Indiana December 11. 2p 17 Attest: City Clerk Attest President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana December 11, 20 17 Ad 0 City Clerk Approved and signed by me ��� '� Mwx BILL NO. 17-83 RESOLUTION NO. 4693-17 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS Intersection of Jefferson Blvd and Main St, South Bend, IN 46601 AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX (6) YEAR REAL PROPERTY TAX ABATEMENT FOR River Park Leasing Corporation 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 the intersection of Jefferson Boulevard and Main Street, South Bend, Indiana 46601 described as follows: Lot 260AA of the record plat of the Original Town of South Bend, Jefferson and Main, Second Replat recorded on March 25, 2013, as Document No. 1308726 in the Office of the Recorder of St. Joseph County and which has Key Number 018-3007-0231, and 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: �I SECTION 1. 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 two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION 11. The Common Council hereby determines that the property owner is qualified for and is granted real property tax deduction for a period of six (6) years as shown by the schedule outlined below as well as the attachment 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 sea. Year 1 - 100% Year 2 - 100% Year 3 - 100% Year 4 - 100% Year 5 - 100% Year 6 - 100% 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. Tim Scott, Counci ident Member of the Common Council PRESENTED 17-/ NOT APPROVE) �Daplrr"� t7/111 Z�I !