Loading...
HomeMy WebLinkAboutReconfirming Tax Abatement - South Bend Redevelopment Commission Benefit of Midwest Land Co. 5021 F.J. Nimtz Pkwy. (10 Year Real Property)Attest RESOLUTION NO. 2488 -97 Passed by the Common Council of the City of South Bend, Indiana, July 28, 1997 Attest Presented by me to the Mayor of the City of South Bend, Indiana July 29, 19 97 Clerk of Common Council. City Clerk Approved and signed by me Mayor RESOLUTION NO.' 97 A RESOLUTION RECONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 5021 F. J. Nimtz Parkway South Bend, Indiana TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR SOUTH BEND REDEVELOPMENT COMMISSION FOR THE BENEFIT OF MIDWEST LAND COMPANY WHEREAS, the Common Council of the City of South Bend, Indiana has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 5021 F. J. Nimtz Parkway, South Bend, Indiana, and which is more particularly described as follows: Part of the Southeast Quarter (SEI /a) of Section 20, Township 38 North, Range 2 East, situate in German Township, St. Joseph County, State of Indiana, and being more particularly described as follows: Commencing at a one inch iron pipe with a cap stamped "M &B 13" marking the Northwest corner of the Southeast Quarter (SE 1/4) of said Section 20; thence South 00 degrees 19 minutes 53 seconds East along the West line of the Southeast Quarter (SEI /4) of said Section 20 a distance of 427.00 feet to a drill hole set in concrete, said point being the Southwest corner of land conveyed to the State of Indiana in Deed Record 538, Page 72; thence continuing South 00 degrees 19 minutes 53 seconds East along the West line of the Southeast Quarter (SEI /4) of said Section 20 a distance of 44.25 feet to a drill hole set in concrete on the North right -of -way line of the F. Jay Nimtz Parkway; thence North 89 degrees 40 minutes 07 seconds East along the North right -of -way line of said F. Jay Nimtz Parkway (80 foot right -of -way) a distance of 786.63 feet to the place of beginning of this description; thence continuing North 89 degrees 40 minutes 07 seconds East along the North right -of -way line of said F. Jay Nimtz Parkway (80 foot right -of -way) a distance of 477.78 feet to a one inch pipe with a cap stamped "M &B 13" marking the point of curvature of a tangent curve to the right having a radius of 1640.00 feet and a central angle of 21 degrees 47 minutes 52 seconds; thence Eastwardly and Southeastwardly along the North right -of -way line of said F. Jay Nimtz Parkway and along said curve a distance of 623.93 feet; thence North 00 Degrees 19 minutes 53 seconds West parallel with the East line of land conveyed to the Board of Aviation Commissioners of St. Joseph County, Indiana in Deed Record 246, Page 274 a distance of 540.72 feet; thence North 89 degrees 47 minutes 15 seconds West parallel with the North line of the Southeast Quarter (SEI /4) of said Section 20 and the North line of said Commissioners Land a distance of 1082.81 feet; thence South 00 degrees 11 minutes 51 seconds West parallel with the East line of land conveyed to the State of Indiana in Deed Record 538, Page 72 a distance of 433.76 feet to the place of beginning of this description. Containing 11.212 acres of land. and said real estate having the following Key Number 25- 1018 -0679, as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code § 6- 1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an Economic Revitalization Area have been met; and WHEREAS, the Council has received a completed Form SB -1 Statement of Benefits from Midwest Land Company (the "Petitioner ") proposing redevelopment and rehabilitation of real estate; and WHEREAS, the Council has determined that the redevelopment and rehabilitation of real estate proposed by the Petitioner is located within an area that has already been designated an Economic Revitalization Area by the Council; and WHEREAS, upon review of the Petitioner's Form SB -1 Statement of Benefits, the Council finds that (i) the estimate of the value of the redevelopment and rehabilitation is reasonable for projects of the nature described in the Statement of Benefits; (ii) the estimate of the number of individuals whose employment will be retained can reasonably be expected to result from the redevelopment and rehabilitation of real estate described in the Statement of Benefits; (iii) the estimate of annual salaries of those individuals whose employment will be retained can reasonably be expected to result from the proposed redevelopment; (iv) other benefits about which information was requested are benefits which can reasonably be expected to result from the proposed redevelopment and rehabilitation of real estate; and (v) the totality of benefits to be derived from the proposed redevelopment and rehabilitation of real estate is sufficient to justify the deduction sought by the applicant; and WHEREAS, Indiana Code § 6 -1.1- 12.1 -11.3 authorizes the Common Council to grant the tax abatement requested by Petitioner. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION i. The Common Council hereby reconfirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to four (4) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION u. The Common Council hereby waives compliance with the requirements of Indiana Code § 6 -1.1- 12.1 -1 et seal., as permitted by Indiana Code § 6 -1.1 -12.1 -11.3, to the extent necessary to give effect to this Resolution. Without limiting the general scope of this waiver, the Common Council specifically waives the Petitioner's failure to submit its Statement of Benefits to the Common Council before the hearing regarding the designation of the Economic Revitalization Area, in accordance with Indiana Code § 6 -1.1- 12.1- 11.3(a)(1). SECTION in. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of TEN 10) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code § 6 -1.1 -12.1 et seq. —2— SEC UON TV. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. SBDS02 PXP 119920 —3— PRESENTED 1-2K-97 NOT APPROVER ADOPTED 7-c)- g --97 Member of the Co n Council Filed in Clerk's Office EJU 4 1997 LOBETTA J. DUDA CRY CLERK, SO. BEND, IN.