HomeMy WebLinkAboutDesignating Tax Abatement - Olive South Bend L.L.C. NW corner of Olive Road & Old Clevlenad Rd (Real Property)RESOLUTION
NO. 2701 -99
Passed by the Common Council of the City of South Bend, Indiana
January 11, Iq 99 .
Attest: cxt-"!~i0'�'�— Pres
Presented by me to the Mayor of the City of South Bend,
January 12, 19 -0—.
Clerk
of Common Council.
Approved and signed by me January 15, lq 99
Clark
Mayor
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
NW CORNER OF OLIVE ROAD AND OLD CLEVELAND ROAD
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
REAL PROPERTY
TAX ABATEMENT FOR
OLIVE SOUTH BEND, L.L.C.
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 NW comer Olive Road and Old Cleveland
Road, South Bend, Indiana, and which is more particularly described as follows:
Lot 1 and Lot 2 as said Lots are known and designated in the recorded plat of
Kidder's Olive Road Minor Subdivision (Office of the Recorder of St. Joseph County,
Indiana Document number 9818752), containing 19.24 Acres, subject to public
highways and any easements of record, if any.
and which has Key Number 25- 1011 -0186 , 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 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. In light of the risks to be taken by the Petitioner without guaranties for this
nine million dollar project, the Common Council hereby determines that the project meets the
standards for a special exception tax abatement consideration under Section 2 -84 of the South
Bend Municipal Code. The petitioner accordingly must identify the end use(s) prior to final
action on the Confirmatory Resolution which shall specify the duration of the tax abatement.
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 I -11 -99
NOT APPROVED
ADOPTED /- J/.9 9 A5 Arne