HomeMy WebLinkAboutDesignating Tax Abatement - Abcatrice, LLC (Omicron Biochemicals, Inc.) 115 S. Hill St. (7 Year Real Property)Attest:
RESOLUTION
K11�mly,
Passed by the Common Council of the City of South Bend, Indiana
July 25, 05
20_.
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
July 26, 20 05
City Clerk
Approved and signed by me July 26 20 05
RESOLUTION NO. 3y1%-6r
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
115 SOUTH HILL STREET
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
SEVEN (7) YEAR REAL PROPERTY
TAX ABATEMENT FOR
ANCATRICE, LLC (OMICRON BIOCHEMICALS, INC.)
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 115 South Hill Street, South Bend, Indiana, and which
is more particularly described as follows:
Lot Numbered One Hundred Sixty -six (166) as shown on the recorded Plat of Samuel L.
Cottrell's First Addition to the Town of Lowell, now part of the City of South Bend,
recorded April 28, 1854 in Plat Book "T ", page 236 in the Office of the Recorder of St.
Joseph County, Indiana.
and which has Key Number 18 -5010 -0300, 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 seq., 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 SeMc 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 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 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 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 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 of seven (7) 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.
r�
Member of the Common Council
PRESENTED � - 2-S�-Or
NOT APPROVED
AaQFTED -1 -2-S Or
Filed In Clerk's Office
JUL 19 0
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
05 -92 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 115 SOUTH HILL STREET AN ECONOMIC REVITALIZATION
AREA FOR PURPOSES OF A SEVEN (7) YEAR REAL PROPERTY
TAX ABATEMENT FOR ANCATRICE, LLC, OMICRON BIOCHEMICALS,
INC.
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.
Roland Kelly
Chairman