HomeMy WebLinkAbout5064-24 Confirming Resolution- Mixed-Use Development Real Property Tax Abatement Petition for the Nexus Center, LLC RESOLUTION
No. 5064-24
Passed by the Common Council of the City of South Bend, Indiana
January 08, 20 24 .
Attest: City Clerk
Attest 47President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
January 08, 20 24
City Clerk
1.
Approved and signed by me 101%47 117
20
Mayor
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United States of America
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ST.JOSEPH COUNTY
ASSESSOR .!� rt,
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ertificate 't
STATE OF INDIANA, COUNTY OF ST. JOSEPH, ss:
I, Bianca L. Tirado, Clerk of the City of South Bend, County of St. Joseph, Indiana, hereby
certify that the attached and foregoing is a full, true, and correct copy of
RESOLUTION NO. 5064-24
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF
SOUTH BEND, INDIANA, CONFIRMING THE ADOPTION OF A
DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN
AS 3607 SOUTH MAIN STREET, SOUTH BEND, INDIANA 46614 AN
ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A NINE —
YEAR (9) REAL PROPERTY TAX ABATEMENT FOR THE NEXUS
CENTER, LLC
ADOPTED BY THE COMMON COUNCIL OF THE CITY OF SOUTH
BEND, INDIANA, JANUARY, 8, 2024
PRESENTED TO, APPROVED AND SIGNED BY MAYOR JAMES
MUELLER, JANUARY, 12, 2024
ATTEST: SHARON L. MCBRIDE, PRESIDENT OF THE COMMON
COUNCIL
ATTEST: BIANCA L. TIRADO, CITY CLERK
the original of which is now on file in the office of the Clerk of the City of South Bend, St. Joseph
County, Indiana.
IN WITNESS WHEREOF, I have hereunto $et my hand and affixed the official Seal of the City
of South Bend, St. Joseph County, Indiana, this Igiv day of Acvn 1 20 z9
Bianca L. Tirado
Clerk of the City of South Bend
St. Joseph County, Indiana
By: CZC 02).MA/1/07(, Deputy
BILL NO. 24-02
RESOLUTION NO. 5064-24
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY
OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
3607 South Main Street, South Bend, Indiana 46614
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A NINE-
YEAR (9) REAL PROPERTY TAX ABATEMENT FOR
The Nexus Center, 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 described as:
Key Number: 71-08-24-353-001.000-026
Commonly Known As: 3607 South Main Street, South Bend, Indiana 46614
Legal Description: Lots 1 Thru 5 Ida M. Walz Sub & Lots D & E. J E
Walz Revised& Vac St. & Vac Alley
be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-
12.1 et seq., and South Bend Municipal Code Sections 2-76 et seq.; 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 mixed-use development real property tax abatement only and shall expire on
December 31, 2026.
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 nine (9) years as shown by the
schedule outlined below 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 - 100%
Year 3 - 95%
Year 4 - 95%
Year 5 - 90%
Year 6 - 90%
Year? - 85%
Year 8 - 85%
Year 9 - 80%
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 nil President
South Bend Common Council
5�4';4/l;,e�-y i4k,,'
Attest:
B nca Tirado, i erk
Office of the City lerk
Presented by me, the undersignk! Jerk of the Cit of South Bend, to the Mayor of the
City of South Bend, Indiana, on the L day of GA , 2024, at
o'clock .m.
Bia a Tirado, ' C rk
Office of the Ci C k
Approved and signed by me on the 12 1.6 day of e 117 ,2024,at 3 o'clock
f.m.
J es Mueller, Mayor
City of South Bend