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Home My WebLink AboutDesignating Tax Abatement - River Race Townhomes LLC 140 Niles Ave. (9 Year Real Property)Atte: RESOLUTION 4374 -14 Passed by the Common Council of the City of South Bend, Indiana July 14, 14 2Q_ Presented by me to the Mayor of the City of South Bend, Indiana July 15, 20 14 City Clerk dent of Common Council Approved and signed by me J VL Is- 20A. 01 City Clerk 227 W. JEFFERSON BOULEVARD SUITE 1400 S. SOUTH BEND, IN 46601 -1830 CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR COMMUNITY INVESTMENT SCOTT FORD, EXECUTIVE DIRECTOR July 17, 2014 Council Member Gavin Ferlic, Chairperson Community Investment Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Real Property Tax Abatement Petition for: River Race Townhomes, LLC Dear Council Member Ferlic: PHONE: 574/235 -9371 FAX: 574/235 -9021 Please remove from consideration the tax abatement for the above - referenced petitioner. The project called for the construction of a mixed -use development at 122 South Niles Avenue. There are numerous agreements pertinent to the sale of the site. There is some ambiguity in the documents. The Department of Community Investment has asked for further legal review to determine if tax abatement is allowable. Should you or any of the other Council members have any questions concerning the report, or need additional information, please feel free to call me at 235 -9339. Sincerely, Brock Zeeb Director Economic Resources Attachments cc: South Bend Common Council Members Chris Fielding Scott Ford PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES 11TIN KAIN PAMELA C. MEYER CHRIS FIELDING DONALD E. INKS RESOLUTION NO. 3T l 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 140 Niles Avenue AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A NINE (9) YEAR REAL PROPERTY TAX ABATEMENT FOR RIVER RACE TOWNHOMES, LLC 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 located at 122 South Niles Avenue which is more particularly described as: N' /2 Lot 159 Cottrells 151 Lot 161 Cottrells I" Lot 163 Cottrells 151 Lot 162 Cottrells 1St 45 Ft E End Lot 158 Cottrells I" 45 Ft W End 90 Ft E End Lot 158 Cottrells 151 and which has Key Numbers 018 -5010 -0286, 018 -5010 -0287, 018 -5010 -0292, 018 -5010 -0293, 018 -5010 -0291, and 018 -5010 -0288 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, petitioner has agreed to and has accepted responsibility to report any changes in the final legal description and to report the final, appropriate Key Number to the Department of Community Investment and to the Office of the City Clerk; 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 seq., 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 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 nine (9) years as shown by the attachment pursuant 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. PRESENTED Xpmow Piled ir If#ice 1 014 CITY CLERK, SOUYtI ®END, IN TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 14 -66 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 140 NILES AVENUE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR REAL PROPERTY TAX ABATEMENT FOR RIVER RACE TOWNHOMES, LLC 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 Investment Committee. Valerie Schey Chairperson, Committee of the Whole