HomeMy WebLinkAboutDesignating Tax Abatement - Hoffman Hotel Apartments Housing Partners LP 120 W. LaSalle St (10 Yr. Real Property)Attest:
RESOLUTION
4279 -13
Passed by the Common Council of the City of South Bend, Indiana
September 9,
13
20
Presented by me to the Mayor of the City of South Bend, Indiana
September 10,
20 13
City Clerk
President of Common Council
Approved and signed by me S CPT t' l 6 £ie 11 20 13
WA040
City Clerk
=00
RESOLUTION NO. �(2 1 `� - 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
120 W. LASALLE STREET
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN
(10) TEN -YEAR REAL PROPERTY
TAX ABATEMENT FOR
HOFFMAN HOTEL APARTMENTS HOUSING PARTNERS, L.P.
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 120 W. LaSalle Street, South Bend, Indiana, and which is more particularly
described as follows:
East 87.7 feet Lot 12 Original Plat South Bend
and which has Key Number 71 -08 -12 -107- 002.000 -026 at this point and time, 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, the Department of Community Investment 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 seq., 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 Investment 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 5N., 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 Investment 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 of (10) ten years as shown by the attachment pursuant
2
to Indiana Code 6 -1.1- 12.1 -17.
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.
RESENTED
NO-T, A 1 R® „RID
Fiiecl in tle k's Office
JCMN VOORDE
CITY CLERK, SOUTH SEND, IN
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
13 -59 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 120 W. LASALLE STREET AN
ECONOMIC REVITALIZATION AREA FOR PURPOSES OF
A (10) TEN -YEAR REAL PROPERTY TAX ABATEMENT
FOR HOFFMAN HOTEL APARTMENTS HOUSING
PARTNERS, L.P.
This bill was heard by the Community Investment Committee.
Karen L. White
Chairperson, Committee of the Whole