HomeMy WebLinkAboutDesignating Tax Abatement - Old Target - McKinley Ave and west of Hickory - McKinley Apartments Housing Partners, LPRESOLUTION
3834-08
Passed by the Common Council of the City of South Bend, Indiana
February 11, 20 08
Attest: ~ ~~ ~ (~.r~~~~ City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
February 12, 20 08
City Clerk
Approved and signed by me 20
~ ~ ~~~-
RESOLUTION NO. 3 ~'.~ ~' ~ ~
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
THE OLD TARGET STORE RETAIL COMPLEX LOCATED ON THE
NORTH SIDE OF MCKINLEY AVENUE JUST WEST OF HICKORY
ROAD
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN
(10) TEN-YEAR REAL PROPERTY
TAX ABATEMENT FOR
MCKINLEY APARTMENTS HOUSING PARTNERS, LP
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 known the old Target Store Retail Complex located on the north side
of McKinley Avenue and west of Hickory Road, South Bend, Indiana, and which is more
particularly described as follows:
ALL THAT TRACT OR PARCEL OF LAND lying and being in the southeast quarter of
Section 5, Township 37 North Range 3 East, in the City of South Bend, St. Joseph County, Indiana,
more particularly described as follows:
COMMENCING at the southeast corner of said southeast quarter of Section 5; thence North
00°02'06" East along the East line of said southeast quarter, a distance of 726.00 feet to a point;
thence run North 89°28'22" West a distance of 40.00 feet to a point; thence run North 89° 28' 22"
West, a distance of 648.65 feet to a point, the POINT OF BEGINNING; thence run South
00°O1' 12" West, a distance of 686.02 feet to a point; thence run North 89° 28' 28" West, a distance
of 525.01 feet to the east line of McKinley Terrace Addition; thence run North 00°00'00" East,
along said east line of said McKinley Terrace Addition a distance of 1411.91 feet to a point and
the south line of McKinley Terrace Addition, Section "A"; thence run South 89°31'54" East along
said south line of McKinley Terrace Addition, Section "A", a distance of 443.34 feet to a point;
thence run South 00°O1' 12" West, a distance of 404.56 feet to a point; thence run North 89° 28'
22" West a distance of 9.11 feet to a point; thence run South 00°24`33" West a distance of 261.23
feet to a point; thence run South 89°28' 12" East a distance of 10.89 feet to a point; thence run
South 00°O1' 12" West a distance of 60.53 feet to a point; thence run South 89° 28' 22" East a
distance of 82.17 feet to a point, the POINT OF BEGINNING. Said tract being 15.60 acres more
or less.
and which has Key Number 18-5201-7736 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 s,~., 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
2
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 (10) ten years.
SECTION VII. 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 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 of the mmon Council
"fi:E5EN7ED Z'~ t.~p
Filed nl G1erk's Office
FEB - 6 2008
JO!'N VOORDE
CITY CLEFT t, S0. BEND, IN.
~:'OT APPRO'/ED
At)OpTED 2-~ ~~dg
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
08-13 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 THE OLD
TARGET STORE RETAIL COMPLEX LOCATED ON THE NORTH SIDE
OF MCKINLEY AVENUE JUST WEST OF HICKORY ROAD AN
.ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (10)
TEN-YEAR REAL PROPERTY TAX ABATEMENT FOR MCKINLEY
APARTMENTS HOUSING PARTNERS, LP
Respectfully report that they have examined the matter and that in their opinion, this bill is
being recommended to the full Council with a favorite recommendation.
Derek D. Dieter
Chairperson. Committee of the Whole