HomeMy WebLinkAboutDesignating Tax Abatement - South Bend Heritage Foundation (TCU) 735 Lincoln Way West (10 Year Real Property)Attest:
RESOLUTION
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Passed by the Common Council of the City of South Bend, Indiana
April 22, 20 02.
Presented by me to the Mayor of the City of South Bend, Indiana
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City Clerk
President of Common Council
April 23,
Approved and signed by me
20 02 .
City Clerk
RESOLUTION NO. 3pg`t -0�
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
735 LINCOLN WAY WEST
TO BE AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN (10) YEAR REAL
PROPERTY TAX ABATEMENT FOR
SOUTH BEND HERITAGE FOUNDATION (TEACHERS CREDIT UNION)
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
commonly known as 735 Lincoln Way West, South Bend, Indiana, and
which is more particularly described as follows:
Parcel #1 Lot Number One (1) as shown on the recorded Plat
of Kent and Garrison's Subdivision of Out Lot One (1) of
Hendrick's and Grant Addition to the town.
Parcel #2 Lots Numbered Eighteen (18) and Twenty -three (23)
as shown on the recorded Plat of James D. Kent's Subdivision of
Bank Out Lot Numbered One Hundred Fourteen (114), taken off of
and from the South Side of Bank Out Lot Numbered One Hundred
Thirteen (113), of the Third Plat of Out Lots of the town.
Parcel #3 The Section of the Old Kankakee Mill Race Bounded
on the South by Lots One (1) and Two (2) of Kent and Garrision's
Subdivision, on the East by the West edge of the North /South
alley between Cushing and Scott Street, on the North by Lot
Twenty -three (23) of Kent's Subdivision of Bank outlot One
Hundred Fourteen (114) and Part of Bank Outlot One Hundred
Thirteen (113) and on the West by the East edge of Cushing
Street.
Parcel # 4 Lot Numbered Two (2) in Kent and Garrison's
Subdivision of Out lot One (1) of Henrick's and Grant's Addition
to the Town and which has Key Numbers 18- 1055 -2345, 18- 1055 -2331,
and 18- 1055 -2346 be designated as an Economic Revitalization Area
under the provisions of Indiana Code 6 -1.1 -12.1 et sea., and
South Bend Municipal Code Sections 2 -76 et sea., 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 pursuant to Section 2 -84 of the
South Bend Municipal Code finds the ten (10) years is the
appropriate and rational time period for this tax abatement in
light of the following:
1) The building is being built in a location that has a
history of disinvestment, blighted structures and
debilitating social activity.
2) The building is within The City of South Bend and
SBHF's targeted area for development. SBHF's goal is to
clear substandard properties and undesirable
businesses between the Center City and the 900 block of
LWW.
3) This project will enhance the millions of dollars that
the City of South Bend has spent on infrastructure
improvements along LWW.
SECTION II. 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 Real property tax abatement only and is
limited to two (2) calendar years from the date of adoption of
the Declaratory Resolution by the Common Council.
SECTION III. The Common Council hereby determines that the
property owner is qualified for and is granted Real property tax
deduction for a period of ten (10) years, and further determines
that the petition complies with Chapter 2, Article 6, of the
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Municipal Code of the City of South Bend and Indiana Code 6 -1.1-
12 et sea.
SECTION IV. This Resolution shall be in full force and effect
from and after its adoption by the Common Council and approved by
the Mayor.
Member of the Common Council
PRESENTED
NOT APPROVED
ADOPTED 1.+.. iiL - O)-
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Roxi In Clerk's office
MAR 2 5 2002
LO VMA J. EtUDA
MY CLEM:, 8O. BEND. IN,