HomeMy WebLinkAboutDesignating Tax Abatement - Lock Joint Tube, LLC 1217 S. Walnut St. (5 Yr. Real property)Attest
RESOLUTION
4169 -12
Passed by the Common Council of the City of South Bend, Indiana
April 23, 12
20
Presented by me to the Mayor of the City of South Bend, Indiana
April 24, 20 12
City Clerk
dent of Common Council
Approved and signed by me Ljly-'A Ls— 2011n
City Clerk
RESOLUTION NO.
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
1217 S. WALNUT STREET
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF UP TO
A (5) YEAR REAL PROPERTY TAX ABATEMENT FOR
LOCK JOINT TUBE, LLC and /or ITS AFFILIATES
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 as 1217 S. Walnut Street, South Bend, Indiana,
and which is more particularly described as follows:
A tract of land in the City of South Bend, County of St. Joseph, and State
of Indiana, situated in the Northwest Quarter of Section 14, and the
Northeast Quarter of Section 15, Township 37 North, Range Two (2)
East, bounded by the following described line:
Beginning at a point in the West line of Walnut Street, 1239.70 feet South
of the South line of Sample Street, which point is 587.95 feet South of the
South line of the Sanders and Egbert Tract, as conveyed by deeds
recorded in Deed Record 118, page 428, and Deed Record 121, page 320;
thence on an assumed bearing of South 00 °00'49" East along said West
line of Walnut Street 479.91 feet; thence South 89 °54'12" West, 725.03
feet; thence South 61 °54'12" West, 42.91 feet; thence South 89 °23'32"
West, 437.13 feet; thence North 00 °00'49" West parallel with said West
line of Walnut Street, 504.26 feet; thence North 89 °55'05" East, 1200 feet
to the place of beginning.
and which has Key Number 018- 8021 - 084503 a/k/a 71- 08 -15- 276 - 003.000 -026, be
designated as an Economic Revitalization Area under the provisions of Indiana Code §
6 -1.1 -12.1 et se ., 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 seq., and South Bend Municipal Code Sections 2 -76,
et SeMc ., 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 seg., 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, Sections 1 through 3 of the Petition for Real
Property Tax Abatement Consideration and 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 directs the City Clerk to cause notice of the
adoption of this Declaratory Resolution for Real Property 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 VII. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approval by the Mayor.
PRESENTED —L3 I L
NOT APPROVE6
ADOPTEE �—k_ L3�12.
Member of the Common Council
s
AM 118 2012
n
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
12 -31 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 1217 S WALNUT STREET AN
ECONOMIC REVITALIZATION AREA FOR PURPOSES OF
UP TO A (5) FIVE YEAR REAL PROPERTY TAX
ABATEMENT FOR LOCK JOINT TUBE, LLC AND /OR ITS
AFFILIATES
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.
This bill was heard by the Community and Economic Development Committee.
Karen L. White
Chairperson, Committee of the Whole