HomeMy WebLinkAboutDesignating Tax Abatement - Lock Joint Tube Inc. 515 W. Ireland Rd. (10 Year Real Property)Attest
RESOLUTION
NO. 2527 -97
Passed by the Common Council of the City of South Bend, Indiana
November 24, 97
19
Clerk
A4}rsi:_ :2
.t C/' President of Common Council.
Presented by me to the Mayor of the City of South Bend. Indiana
November 25, ,,, 97
Approved and signed by me
November 26,
19 97
City Clerk
Mayor
RESOLUTION NO. 5�,T / 7
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
515 West Ireland Road
South Bend, IN 46614
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
TEN (10) YEAR REAL PROPERTY
TAX ABATEMENT FOR
Lock Joint Tube 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 515 West Ireland Road, South Bend, Indiana, and which is more
particularly described as follows:
A parcel of land located in the Southeast Quarter of the Northeast Quarter of
Section 26, Township 37 North, Range 2 East, more particularly described as
follows: Beginning at a point on the East -West centerline of said Section 26, a
distance of 400.00 feet South 90 °00'00" West (bearing assumed for this survey)
of the Southeast corner of said Northeast Quarter of Section 26; thence South
90 °00'00" West along the East -West centerline a distance of 891.04 feet; thence
North 0 °58'07" East, along the West line of said Southeast Quarter of the
Northeast Quarter, a distance of 996.17 feet to an iron found this survey 314.00
feet South 0 °58'07" West of a stone found this survey which marks the Northwest
corner of said Quarter, Quarter Section; thence North 89 °44'16" East, a distance
of 1300.60 feet to a point to the East line of said Northeast Quarter 314.00 feet
South 1 °30'29" West of a stone found this survey which marks the Northeast
corner of said Quarter, Quarter Section; thence South 1 °30'29" West along the
East line of said Northeast Quarter, a distance of 602.31 feet; thence South
90 °00'00" West parallel with said East -West centerline, a distance of 400.00 feet
to an iron found this survey; thence South 1 °30'29" West, parallel with said East
line of the Northeast Quarter, a distance of 400.00 feet to the place of beginning.
and which has Key Number 23- 1013 -0758, be designated as an Economic Revitalization Area
under the provisions of Indiana Code 6 -1.1 -12.1 gt sea., and South Bend Municipal Code
Sections 2 -76 et sea., and;
WHEREAS, the Department of 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 questions as required by
law; and
WHEREAS, the Human Resources 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
Human Resources 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 Indian a
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.
PRESENTED /I 2y, a 7.
NOT APPROVED
ADOPTED 1/ -�,q -%7
Filed In Clerk's Office
NOV1$1997
LORETTAJ. DUDA
CITY CLERK, SO. BEND, Ri.
I Member of the Common Council