HomeMy WebLinkAboutDesignating Tax Abatement - No Trump, Inc. & Foxtrot Realty Corp. (3 Year Real Property)Attest:
RESOLUTION
2996 -01
Passed by the Common Council of the City of South Bend, Indiana
April 23,
20T L
Presented by me to the Mayor of the City of South Bend, Indiana
April 24, 2001
City Clerk
President of Common Council
Approved and signed by me APRIL 24, 2001
City Clerk
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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
4201 LINDEN AVENUE
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
TEN (10) YEAR REAL PROPERTY
TAX ABATEMENT FOR
NO TRUMP, INC. & FOXTROT REALTY CORP.
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 4201 Linden Avenue, South Bend, Indiana, and which is
more particularly described as follows:
A PART OF THE EAST HALF OF THE SOUTHWEST QUARTER OF SECTION 4,
TOWNSHIP 37 NORTH, RANGE 2 EAST, SOUTH BEND, INDIANA.
and which has Key Number 18- 21937257, 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, 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 sue., and South Bend Municipal Code Sections 2 -76, et sea., 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 sea., 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 set forth as Sections 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
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 ten (10) years.
2
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 '-\-L3-ok
NOT APPROVED
ADOPTED
Member of the Commo Council
Flied in Clerk's Office
APR 9 � X009
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LowffA J. DWA j
WYCU K,SC.SEND,K f
COMMITTEE REPORT
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
01 -35 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 4201 LINDEN AVENUE AN
ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10)
YEAR REAL PROPERTY TAX ABATEMENT FOR NO TRUMP, INC. &
FOXTROT REALTY CORP.
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.
Andrew Udjak
Chairman