HomeMy WebLinkAboutConfirming Tax Abatement - South Bend Redevelopment Commission benefit of : AJW South Bend Realty Corp. 1902 W. Sample St. (10 Year Real Property)Attest:
RESOLUTION
3094 -02
Passed by the Common Council of the City of South Bend, Indiana
May 13,
20 02
Presented by me to the Mayor of the City of South Bend, Indiana
May 14,
20 02
City Clerk
President of Common Council
Approved and signed by me May 14, 20 02
City Clerk
LM
RESOLUTIONNO. -30c1-32-
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
1902 W. SAMPLE ST.
TO BE AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN (10) YEAR REAL
PROPERTY TAX ABATEMENT FOR
SOUTH BEND REDEVELOPMENT COMMISSION for the benefit of:
AJW SOUTH BEND REALTY CORP.
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 1902 W.
Sample Street, South Bend, Indiana, and which is more particularly described as follows:
That Part of the Northeast Quarter of Section 15, Township 37 North, Range 2 East, Portage
Township, City of South Bend, St. Joseph County, Indiana which is described as: Beginning at a
Point which is S. 00 °- 05' -51" E. (All Bearings Assumed), 50.00 ft. more or less and S. 89 ° -52'-
12" E., 1,076.95 ft. more or less from the North Quarter Post of Said Section 15; thence
continuing S. 00° - 05' -51" E., 395.00 ft. more or less; thence S. 89 °- 56' -51" W., 492.00 ft. more
or less; thence N. 51 °- 31' -38" W., 141.28 ft. more or less to the Proposed Southerly Line of
Sample Street; thence along said Proposed Line, S. 37 °45140" W., 697.66 ft. more or less to the
Proposed Easterly Line of Olive Street; thence along said East Line, S. 00 °- 08' -02" W., 1106.17
ft. more or Less; thence N. 89 °- 54' -19" E., 557.45 ft. more or less; thence N. 790- 32' -32" E.,
592.72 ft. more or less; thence N. 00 °- 07' -40" W., 370.29 ft. more or less; thence N. 89 °- 54' -19"
E., 922.75 ft. more or less; thence N. 00 °- 01' -16" W., 1482.61 ft. more or less to the Proposed
South Line of Sample Street; thence N. 89 °- 52' -12" W. along said Proposed South Line, 1029.96
ft. to the Point of Beginning.
Containing 70.95 acres more or less.
and which has Key Number 18- 8075 -2841, as an Economic Revitalization Area; 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 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 five (5) calendar years
from the date of adoption of the Declaratory Resolution by the Common Council. The Common
Council pursuant to section 2 -84 of the South Bend Municipal Code finds the five (5) year
designation is appropriate and rational period for this abatement in light of the following:
A. The project far exceeds the minimum requirement of 100,000 sft. for tax
abatement eligibility.
B. The project has an enormous cost associated with it of over $46 million,
including land, building and equipment.
C. The project site is located in an area which otherwise would not see normal
growth or development, and the project is expected to be a catalyst for future development in
the area.
D. The project will result in a significant number of new jobs, the total number of
which is projected to reach 874 by the time the project is completed.
E. The project is supported by and is receiving financial assistance from the
Indiana Department of Commerce, the City of South Bend, and the Urban Enterprise
Association.
F. The project site falls within all of the designated areas including, the Tax
Abatement Impact Area, the Economic Development Target Area, the Sample -Ewing
Development Area and the Urban Enterprise Zone.
SECTION II. 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 Municipal Code of the City of South
Bend and Indiana Code 6- 1.1 -12 et sea.
SECTION III. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approved by the Mayor.
U/
Member of the Comm am m7g�
-02
PRESENTED
5=�3
NOT APPROVED v-iW' R 16 200'
ADOPTED 3