HomeMy WebLinkAboutNo. 1153 approving an application for real property tax deduction (Macri's Italian Bakery, Inc., 212, 214, 214 1/2 Niles Ave.)RESOLUTION NO. 1153
A RESOLUTION APPROVING AN APPLICATION FOR
REAL PROPERTY TAX DEDUCTION
WHEREAS, I.C. 6 -1.1- 12.1 -2(j) provides that an application
for property tax deduction may not be approved when the property is
located in an allocation area as defined in I.C. 36- 7- 14 -39, unless
the Redevelopment Commission which designated that allocation area
adopts a resolution approving that application; and
WHEREAS, the South Bend Common Council has received a
petition for six (6) years of real property tax abatement
consideration from Macri's Italian Bakery, Inc. for real property
located at 212, 214, 214% Niles Avenue in the South Bend Central
Development Area, the legal description of which is attached
hereto, marked Exhibit "A" and incorporated herein; and
WHEREAS, this Commission declared the South Bend Central
Development Area by Resolution No. 737, adopted May 10, 1985, and
in the same resolution declared the South Bend Central Development
Area, Allocation Area No. lA; and
WHEREAS, the property located at 212 -214, 214M Niles Avenue
is located within the South Bend Central Development Area,
Allocation Area No. IA;
NOW, THEREFORE, BE IT RESOLVED by the South Bend
Redevelopment Commission as follows:
1) The Commission finds that the application from Macri's
Italian Bakery, Inc. for six (6) years of real property tax
abatement consideration for property located at 212, 214, 214%
Niles Avenue in the South Bend Central Development Area, Allocation
Area No. 1A, is hereby approved.
2) That a copy of this resolution be forwarded to the South
Bend Common Council to indicate the Commission's approval of the
petition for real property tax abatement for Macri's Italian
Bakery, Inc.
Approved this 7th day of May, 1993, at the regularly
scheduled meeting of the South Bend Redevelopment Commission.
ATTEST:
C
Theo F. Sharp, ecretary
Res1153
LM
0
SOUTH BEND REDEVELOPMENT COMMISSION
Paula N. Auburn, President
EXHIBIT A
( 212 N. Niles Ave.)
Key No. 18 5005 0115
Legal Description;
14 FT S SIDE 93 FT W END
LOT 82 AND 20 FT N SIDE 93 FT
W END LOT 83 0 P LOWELL
( 214 N. Niles Ave.)
Key No. 18 5005 0113
Legal Description;
52x93 FT NW COR LOT 82 O.P
LOWELL
(214 1/2 N. Niles Ave.)
Key No. 18 5005 0114
Legal Description
72 FT E END LOT 82.& 20x72
FT HE COR LOT 83 0 P
LOWELL.
City of South Bend
Joseph E. Kernan. Mayor
Department of Economic Development
Jon R. Hunt
Executive Director
Ann E. Kolata
Deputy Executive Director
MEMORANDUM
TO: HUMAN RESOURCES COMMITTEE OF THE SOUTH BEND COMMON COUNCIL
FROM: DEPARTMENT OF ECONOMIC DEVELOPMENT - MICHAEL BEITZINGER
SUBJECT: TAX ABATEMENT PETITION
MACRI'S ITALIAN BAKERY, INC.
212, 214 & 214 1/2 N. NILES AVENUE
DATE: MAY 3, 1993
On April 30, 1993, a petition for tax abatement consideration for real property
located at 212, 214 & 214 1/2 N. Niles Avenue was filed with the City Clerk by Macri's
Italian Bakery, Inc. Pursuant to Chapter 2, Article 6, Section 2 -77 of the Municipal
Code of the City of South Bend, this petition was referred to the Department of Economic
Development for purposes of investigation and preparation of a report determining whether
the area qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1- 12.1 -1 and
whether all zoning requirements have been met.
The Department of Economic Development has reviewed the petition (a copy of which is
attached), investigated the area and makes the following report.
PROJECT DESCRIPTION
The proposed project is a much needed expansion of Macri's Bakery. The project
calls for moving the business from 520 E. LaSalle Avenue around the corner to 214 Niles
Avenue. An existing 6500 square foot building will be renovated and a 4500 square foot
addition will be built. The building will then house a bakery, a gourmet food section, a
deli and an Italian restaurant. The total projected cost of the project is $550,000.
The project will create twenty five (25) new permanent jobs in the first year,
representing an annual payroll of $85,000 and will maintain twenty three (23) existing
permanent full -time jobs and seventeen (17) part time positions with an annual payroll of
$ 210,000.
1200 County -City Building • South Bend, Indiana 46601 • 219/235 -9371 Fax 219/235 -9021
Redevelopment Business Assistance Housing Rehabilitation
Ann Kolata & Development Kathryn Baumgartner
235 -9371 Donald Inks 521 Eclipse Place
235 -9335 235 -9475
CDBG Program &
Financial Management
Elizabeth Leonard
235 -9335
Planning &
Neighborhood Development
Pamela Meyer
235 -9449
REPORT SUMMARY
1. The petitioner has not applied for any previous tax abatement consideration.
2. The property is properly zoned for the proposed use. A copy of the report from the
Building Commissioner is attached.
3. The property is located in an area presently designated as a Tax Abatement Impact
Area by the South Bend Common Council.
4. The property is located in a Tax Incremental Financing Allocation Area. The
Redevelopment Commission considered this abatement petition at its regularly
scheduled meeting on Friday, May 5, 1993. A copy of their resolution is attached.
5. The petitioner qualifies for 6 years of real property tax abatement under Section
2 -79 (Retail Developments in the East Bank Development Area) of the Tax Abatement
Ordinance (No. 8065 -90).
6 YEAR
MACRI'S ITALIAN BAKERY, INC.
05- May -93
Real Property Abatement
--------------------------------
Schedule
Total estimated Project Cost:
$550,000
Base Assessed Value:
$183,333
(Approx.
1/3 Project Cost)
Assume constant tax rate of:
14.3955
Assessed
Tax
Tax
Year
Abated Value
Abated
Paid
1
100 $0
$26,392
$0
2
85 27,500
22,433
3,959
3
66 62,333
17,419
8,973
4
50 91,667
13,196
13,196
5
34 121,000
8,973
17,419
3 6
17 152,167
4,487
21,905
-- - -
- - -- --
$92,899
- - - - -- -
$65,452
Without Abatement:
$158,351
With Abatement:
65,452
Amount Abated:
92,899
In