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Home My WebLink AboutSupporting Financial Incentives 211-213 West Washington (Chase Tower) RESC,LUTION 4127-11 Passed by the Common Councii of the City of South Bend, Indiana November 14, 11 � Zo Attest: City Clerk � ; � u ; Attest� "� President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana November 15, 20 11 City Clerk Approved and signed by me Novembe r 16, 20 11 . .- i� "_._ / ' � ' ._... +Li/j/L+�,�S�� 'f�!`�c:•`��_ .: � ^�� r�ay�n RESOLUTION � � �� `� Substitute Bill No. 11-57 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA,SUPPORTING FINANCIAL INCENTIVES CONSISTENT WITH CITYPLAN WHICH WILL ATTRACT AND LEVERAGE PRIVATE INVESTORS TO PROVIDE EQUITY INVESTMENT FOR THE`ECONOMIC REAABILITATION OF'THE TALLEST BUILDING TN DOWNTOWN SOUTH BEND LOCATED AT 211-213'-WEST WASHINGTON AND WHICH REFLECT SUSTAINABLE'RENOVATIONS WHICH INCORPORATE COMPREHENSIVE LEED-CERTIFED TECFINOLGIES ��ex� the Common Council of the City of South Bend, Indiana; notes that the building located at 211-213 West Washington was constructed in 1971, consists of 25-stories and is located in the heart of downtown South Bend; and G�exe�ec the Council further notes that the property is currently subject to an"Agreed Order for Immediate Appointment of Receiver" in the St. Joseph Circuit Court; and ��erer� the South Bend Common Council believes that this structure is vital to the overall viability as an integral part of the economic engine because of its key location in the county seat of St. Joseph County, Indiana; and ��J�e�,� City Plan was adopted by the South Bend Common Council with the adoption of Resolution No. 3657-06 in 2006 which specifically stressed within its "Implementation Action Plan",the need to: Expand Economic Opportunities Ensure Quality Design and Physical Development Conduct Planning and Analysis ��ere�, the Common Council further believes that time is of the essence, and that the City Administration and the Redevelopment Commission should develop with the Council an incentive package which will attract private investors to provide equity investment :for the economic rehabilitation of the building located at 211-213 West Washington, which is consistent with the goals and objectives set forth in this Resolution. CJ�o..i, C-�iEe�g�axe, 6e iC��i�e�d, 6� tEe �o�x�xasc �ou,�eal g�t�(e � o�C-�°� �snd, �nda�ea, as follows: Section I. The South Bend Common Council believes that the City Administration and the Redevelopment Commission should immediately begin to collaborate with the Common Council in developing an incentive package which will attract private investors to provide equity investment for the economic rehabilitation of the building commonly known as the Chase Tower located at 211-213 West Washington in downtown South Bend. Section IL The South Bend Common Council further believes that such an incentive package should not provide any funding or other incentives which would provide for an unfair market advantage which would be inconsistent with any current legal and binding agreements which provide incentives to maintain their presence in downtown South Bend. Substitute Bill No. 11-57 Incentive Resolution for 211-213 West Washington Page 2 Section,IV. The Common Council calls upon representatives of the current City Administration,representative(s) of the Mayor-elect, the Redevelopment Commission and the 2"d District Council Member and the Chairperson of the CounciL's Community and Economic Development Committee to collaborate together, so that the redevelopment of the Chase Tower is successfully concluded with all due speed. Updates shall be made on a timely basis to the Council's Community and Economic Development Committee. Section V. The Common Council supports the use of the appropriate revenue stream(s) for the repair, acquisition,alteration and/or renovation of the Chase Tower. Section VL Upon the adoption of this Resolution and approval by the Mayor, the Office of the City Clerk is authorized to send a copy to the members of the Redevelopment Commission post haste, so that they may begin their deliberations with the Council and City Administration's representatives. Section VII. This Resolution shall be in force effect from and after its adoption by the Council and approval by the Mayor. �` Derel . i , 1 t District Oliver vis, 6t District �, �, � " o Henry Davis,Jr., 2n District A1 "Buddy"Kirsits, t arge , � ,�' � , T s LaFou in, 3` District Timothy A. R e,At Large Ann Puzzello,4 D' ct Karen L. White,At L e �.� - • . avid Varner, 5`'District � Kathy Cekanski-Farrand, Council Att' ��t.• c��ed �. %� ',� d� 9� . c�suem6ex, ,�0�� ,�i�'�'-�� John oorde, City Clerk Stephen J. L cke, Mayor of South Bend TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 11-57 A RESOLUTION SUPPORTING THE INVESTMENT OF CAGIT, TIF, UDAG AND CEDIT MONIES IN THE CHASE TOWER IN DOWNTOWN SOUTH BEND Respectfully report that they have examined the matter and that in their opinion, this bill is being recommended to the full Council with a favorable recommendation as substituted by a new resolution and a new title as follows: A resolution of the Common Council of the City of South Bend, Indiana, supporting financial incentives consistent with city plan which will attract and leverage private investors to provide equity investment for the economic rehabilitation of the tallest building in Downtown South Bend located at 211-213 west Washington and which reflect sustainable renovations which incorporate comprehensive LEED-certified technologies This bill was heard by the Community and Economic D�velopment Committee. � s •` � ��,� Timothy Roy�s� Chairperso , Committee of the Whole