Loading...
HomeMy WebLinkAboutDesignating Tax Abatement - Steel Warehouse Co. Inc. c/o Lock Joint Tube Inc. 1215 S. Walnut Rd. (10 Year Real Property)Attest RESOLUTION NO. 2792 -99 Passed by the Common Council of the City of South Bend, Indiana, September 27, 19 99 Attest: Presented by me to the Mayor of the City of South Bend, Indiana September 27, 19 99 Clerk of Common Council. Approved and signed by me September 29, 1999 City Clerk Mayor RESOLUTION NO. - `- ` ?- A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1215 South Walnut Road South Bend, Indiana AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR STEEL WAREHOUSE CO. INC. C/O LOCK JOINT TUBE, INC. WHEREAS, a petition for real property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 1215 South Walnut Street, South Bend, Indiana, and which is more particularly described as follows: A tract of land in the City of South Bend, County of St. Joseph, and State of Indiana, situated in the Northwest 1/4 of Section 14, and the Northeast 1/4 of Section 15, Township 37 North, Range 2 East, bounded by the following described line: Beginning at a point in the West line of Walnut Street, 682.75 feet south of the South line of Sample Street, which point is 31 feet South of the South line of the Sanders and Egbert Tract, as conveyed by deeds recorded in Deed Record 118, Page 428 and Deed record 121, Page 320; thence on an assumed bearing of South 0 °00'49" East along said West line of Walnut Street, 556.95 feet; thence South 89 °55'05 "' West, 1200 feet; thence North 0 °00'49" West parallel with said West line of Walnut Street, 589.19 feet to a point 651.75 feet south of the south line of Sample Street or the produced South line of the tract conveyed to F. C. Raff, recorded in Deed Record 172 Page 641; thence South 89 °57'10" East along the South line above described tract produced East, 295 feet; thence South 0 °00'49" East parallel with the West line of Walnut Street, 31 feet; thence North 89 °57'16" East, 905 feet to the place of beginning. and this property having Key Number 18- 8021 - 084504, be designated as an Economic Revitalization Area under the provisions of Indiana Code Section 6- 1.1- 12.1 -1 et seq., and South Bend Municipal Code Section 2 -76 et seq.; and WHEREAS, the Department ofEconomic 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 Section 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Section 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 ofthe 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 Section 6- 1.1- 12.1 -1 et sea., and qualify under the relevant provisions of South Bend Municipal Code Section 2 -76 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 of 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 Section 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 in Sections 1 and 2 of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Tax Commissioners are sufficient to justify the deduction granted under Indiana Code Section 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 Section 5 -3 -1 and Indiana Code Section 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. SBDS02 PXF 185771 PRESENTED- -Li-`l9 NOT APPROVED ADOPTED q —ZZ —A� SLOO�� Member of the Common Council Filed in Clerk's Office E0 SEEP 1999 J. MWA umffA CITY CLV^ 80. BBNM Rd.