HomeMy WebLinkAboutDesignating Tax Abatement - Gibbs Wire & Steel Co. Inc. 3751 Olive Rd. (10 Year Real Property)Attest:
RESOLUTION
2943 -00
Passed by the Common Council of the City of South Bend, Indiana
October 23,
00
20_.
Presented by me to the Mayor of the City of South Bend, Indiana
October 24, 00
20
City Clerk
President of Common Council
Approved and signed by me October 25. 20 DO .
City Clerk
RESOLUTION NO. �' I -1 3-00
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
3751 OLIVE ROAD
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
TEN (10) YEAR REAL PROPERTY
TAX ABATEMENT FOR
GIBBS WIRE & STEEL CO., 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 3751 Olive Road, South Bend, Indiana, and which
is more particularly described as follows:
LOT NUMBERED ONE (1) AS SHOWN ON THE RECORDED PLAT OF GIBBS' OLIVE
ROAD MINOR SUBDIVISION RECORDED JUNE 2, 2000 AS DOCUMENT NUMBER
0026450 IN THE OFFICE OF THE RECORDER OF ST. JOSEPH COUNTY, INDIANA.
and which has Key Number, 25- 1011 - 018602, 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
sec., 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 sea., 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.
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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.
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.
\� ate`
Member of the Commonk.Council
Filed In Clerk's Officof
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PRESENTED ®�� s 2000 pp
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NOT APPROVED L ®aEiTaa. �Dz --
CITY CLERK, SO. 500, M"
ADOPTED