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HomeMy WebLinkAboutDesignating Tax Abatement - JTG Development Inc. 2442 Jaclyn Ct. (3 Year Real Property)RESOLUTION NO. 2763 -99 Passed by the Common Council of the City of South Bend, Indiana July 12, •• Attest: Presented by me to the Mayor of the City of South Bend, Indiana July, 13 •• Clerk of Common Council. Approved and signed by me July 14, „ City Clerk Mayor RESOLUTION NO. 21 �3 . q 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 2442 JACLYN COURT AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR JTG DEVELOPMENT 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 2442 Jaclyn Court, South Bend, Indiana, and which is more particularly described as follows: A PARCEL OF LAND LOCATED IN THE WEST '/2 OF THE NORTHWEST 1/4 OF SECTION 22, TOWNSHIP 37 NORTH, RANGE 2 EAST, CITY OF SOUTH BEND, PORTAGE TOWNSHIP, ST. JOSEPH COUNTY, INDIANA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT A PK NAIL MARKING THE NORTHWEST CORNER OF SAID SECTION 22; THENCE NORTH 89 027'04" EAST, ALONG THE NORTH LINE OF SECTION 22, A DISTANCE OF 60.00 FEET; THENCE SOUTH 00 °22'57" EAST, A DISTANCE OF 40.00 FEET TO A CAPPED 5/8" IRON REBAR ON THE EAST LINE OF NEW ENERGY DRIVE (FORMERLY KNOWN AS MAPLE ROAD); THENCE NORTH 89 °27'04" EAST, ALONG A LINE 40.00 FEET SOUTH OF AND PARALLEL TO THE NORTH LINE OF SAID SECTION 22, A DISTANCE OF 1247.65 FEET; THENCE SOUTH 00 °11'31" EAST, A DISTANCE OF 366.27 FEET TO THE "POINT OF BEGINNING" OF SAID PARCEL OF LAND HEREIN DESCRIBED; THENCE SOUTH 00 °11'31" EAST, A DISTANCE OF 278.88 FEET; THENCE SOUTH 89 027'02" WEST, A DISTANCE OF 337.65 FEET; THENCE ALONG A CURVE, CONCAVE WESTERLY, WHOSE ELEMENTS ARE: CENTRAL ANGLE OF 34 022'37 ", RADIUS OF 330.00 FEET, ARC LENGTH OF 198.00 FEET AND A CHORD THAT BEARS NORTH 16 °59'47" EAST, 195.04 FEET; THENCE NORTH 00 °11'31" WEST, A DISTANCE OF 92.91 FEET; THENCE NORTH 89 °27'02" EAST, A DISTANCE OF 280.01 FEET TO THE "POINT OF BEGINNING ". CONTAINING 1.871 ACRES, MORE OR LESS. and which has Key Number 18 -1013- 0325.13, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et se ., 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 seq., 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 pursuant to Section 2 -84 of the South Bend Municipal Code finds that three (3) years is a proper designation in light of the following: 1. Initial project going into Premier Industrial Park a incentive for others 2. Established business in same quadrant of city, the company doesn't want to leave the quadrant or city but will if it makes more sense economically. 3. Return on dollars to city will spur further development in area and add more dollars to tax base. 4. Land currently idle providing low to no income to area. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of three (3) 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. Member of the Common Council PRESENTED NOT APPROVED ADOPTED 1 -11 -(�J Filed in Clerk's Office JUN 3 d 1999 LORETTAJ. DUDA CITY CLERK, SO. BERG, W.