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HomeMy WebLinkAboutDesignating Tax Abatement - 128 South Michigan St. - The South Bend Chocolate CompanyRESOLUTION 3624-06 Passed by the Common Council of the City of South Bend, Indiana August 14, Attest: City Clerk President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana August 15, 06 Zo Approved and signed by me August 16 , 2p,.115_. 06 20 City Clerk RESOLUTION NO. 3 ~02~ ~ ~ A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 128 SOUTH MICHIGAN STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN (5) FIVE-YEAR REAL PROPERTY TAX ABATEMENT FOR THE SOUTH BEND CHOCOLATE COMPANY WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area commonly known 128 South Michigan Street, South Bend, Indiana, and which is more particularly described as follows: Parcel 1: The North Half of Lot Numbered Forty-two (42) and a strip of land in width, North and South, taken off of and from the entire length of the South side of a Lot Numbered Forty-three (43) in the Town of South Bend, being a part of the Northwest Fractional Quarter of Section 12, and the Southwest Fractional Quarter of Section 1 all in Township 37 North, Range 2 East of the Second Principal Meridian according to the plat thereof recorded March 28, 1831, in Deed Record A, page 13, in St. Joseph County, Indiana. Parcel II: Apart of Lot Numbered Forty-three (43) as shown on the Original Plat of the Town, now City of South Bend, which part is bounded by a line running as follows: Beginning on the East line of the South Michigan Street in said City, at a point 3 feet North of the Southwest corner of said Lot Numbered 43; thence running North on said East line of South Michigan Street, a distance of 18 feet; thence East 165 feet to the East line of said lot; thence South on said East line 18 feet; thence West 165 feet to the place of beginning. Parcel III: Beginning 21 feet North of the Southwest corner of Lot Numbered Forty-three (43) in the Original Plat of the Town now City of South Bend; thence North 18 %z feet; thence East to the East line of said Lot Numbered Forty-three (43); thence South 18 %2 feet; thence West to the place of beginning. and which has Key Numbers 18-3001-0014; 18-3001-0015; and 18-3001-0016 at this point and time, be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6-1.1-12.1 et sec ., and South Bend Municipal Code Sections 2-76 et sec ., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code § 6-1.1-12.1, et sec ., and South Bend Municipal Code Sections 2-76, et sec ., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Community and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of Indiana Code § 6-1.1-12.1 et sec ., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development; B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation; D. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition for Real Property Tax Abatement Consideration, the Memorandum of Agreement between the Petitioner and the City of South Bend, and that the Statement of Benefits form completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1- 3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Community and Economic Development Committee that the area herein described be designated as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period (5) five years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Properly Tax Abatement to be published pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Member oft ommon Council PRESENTED ~- ~ l~-0~ NOT APPROVED i4C)OPTED ~-`~ ~~O FI~Ci~ ~~1 e~;~~'k'S ~~il~~ BUG - 7 20~J6 JO'r1Pi VOOS`~E CITY Cl.bciC, ~0. FEt~[l, IV. TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 06-79 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 128 SOUTH~VIICHIGAN STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (5) FIVE YEAR REAL PROPERTY TAX ABATEMENT FOR THE SOUTH BEND CHOCOLATE COMPANY 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. Karen L. White Chairperson