HomeMy WebLinkAboutDesignating Tax Abatement - Rescue, Inc. & Hope Housing LP 432 S. Lafayette St. (10 Year real Property)Attest:
RESOLUTION
3165 -03
Passed by the Common Council of the City of South Bend, Indiana
February 24,
2003 .
Presented by me to the Mayor of the City of South Bend, Indiana
February 25, 20 03 .
City Clerk
President of Common Council
Approved and signed by me February 25, 20 03 .
City Clerk
LM
RESOLUTION NO.
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
432 S. LAFAYETTE STREET
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN (10) YEAR REAL PROPERTY
TAX ABATEMENT FOR
RESCUE, INC. AND HOPE HOUSING 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 432 S. Lafayette Street, South Bend, Indiana, and which is more
particularly described as follows:
A Part of the Southwest Quarter of Section 12, Township 37 North, Range 2
East, Portage Township, City of South Bend, St. Joseph County, Indiana, and
more particularly described as; Lots 52, 53 and 54 of Samuel Martin's
Addition
and which has Key Number 18- 3015 -0556, be designated as an Economic Revitalization Area
under the provisions of Indiana Code 6 -1.1- 12.1 -1 et sse., and South Bend Municipal Code
Sections 2 -76 et seq.; and
WHEREAS, the Department of 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 -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 Human Resources 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 -1 et sec.., and qualified under the relevant provisions of
South Bend Municipal Code Sections 2 -76 et seg., 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 the benefits identified in the
Statement of Benefits as set forth in Section I through II of the Petition for Real Property Tax
Abatement Consideration and that the Statement of Benefits Form 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
Human Resources and Economic Development Committee that the area herein described be
designated 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 ten (10) 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.
PRESENTED 2--2-`h03
NOT APPROVED
ADOPTED ''2--vi -Q3
filed in Cler s Office
-2-
FEB 18 2003
LOWETTA J. O110A
CITYCLEWK.30.BEND.K
COMMITTEE REPORT
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
03 -22 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 432 S.
LAFAYETTE STREET AN ECONOMIC REVITALIZATION AREA
FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX
ABATEMENT FOR RESCUE. INC. AND HOPE HOUSING L.P.
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.
Karl King
Chairman