HomeMy WebLinkAbout4992-22 Resolution Confirming the Declaratory Resolution Designating: 511 N. ND Ave. 8 Yr Tax Abatement RESOLUTION
No. 4992-22
Passed by the Common Council of the City of South Bend, Indiana
November 28, 20 22
Attest: a4()w 931W—) City Clerk
Dawn M. Jones
Attest: E4 cthrx Y '1 C� '� President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
November 29, 20 22
City Clerk
Dawn M. Jones
Approved and signed byme v ���'��tr 20 ZZ
PP 9 /
Mayor
BILL NO. 22-58
RESOLUTION NO. 4992-22
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
511 North Notre Dame Avenue, South Bend IN 46617
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN
EIGHT (8) YEAR REAL PROPERTY TAX ABATEMENT FOR
ND QOZB LLC
WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a
Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas
for the purpose of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area commonly known as 511 North
Notre Dame Avenue, South Bend, Indiana 46617, and which is more particularly described as:
Parcel ID: 018-5024-086001
Parcel Number: 71-08-01-476-033.000-026
Legal Description: Lot 2 St Joseph Regional Medical Center Cedar St Minor
Sub NP#5012 7-13-10
and which has Key Number 71-08-01-476-033.000-026 be designated as an Economic
Revitalization Area; and
WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing
before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and
WHEREAS, the Council held a public hearing for the purposes of hearing all
remonstrances and objections from interested persons; and
WHEREAS, the Council has determined that the qualifications for an economic
revitalization area have been met.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the
area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such
designation is for multi-family real property tax abatement only and is limited to three(3) calendar
years from the date of adoption of the Declaratory Resolution by the Common Council.
SECTION II. The Common Council hereby determines that the property owner is qualified for
and is granted real property tax deduction for up to a period of eight (8) years as shown by the
schedule outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17 and
further determines that the petition, the Memorandum of Agreement between the Petitioner and
the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the
Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq.
Year 1 - 100%
Year 2 - 95%
Year 3 - 90%
Year 4 - 85%
Year 5 - 80%
Year 6- 75%
Year 7- 70%
Year 8 - 65%
SECTION III. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approved by the Mayor.
c
Sharo 11111/ :ri l e, ouncil ident
South Bend Common Council
Attes :
/H (etOZ ` `V i
Dawn M. Jones, City Clerk
Office of the City Clerk
Presented by me, the undersigned Clerk of the City of South Bend, to the Mayor of the
City of South Bend, Indiana on the a91" day of /llgu/.41 , 2022, at 1/
o'clock 4 . m.
ell)6"j
awn M. Jones, City Cle
Office of the City Clerk
Approved and signed by me on the day of YUo.Av' , 2022, at II o'clock A m
47J &
mes Mueller, Mayor
City of South Bend, Indiana