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HomeMy WebLinkAboutDesignating Tax Abatement - Kerasotes Theatres Complex 200 Block Chippewa Ave. (10 Year Real Property)Attest RESOLUTION NO. 2419 -96 Passed by the Common Council of the City of South Bend. Indiana October 28, Iv 96 Clerk jl Attest: 'if, President of Common Council. Presented by me to the Mayor of the City of South Bend, October 29, 19 96 City Clerk Approved and signed by me lAlo '87 19—'91.0_. Mayor RESOLUTION NO. CS1 — /lU 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 THE 200 BLOCK CHIPPEWA AVENUE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR KERASOTES THEATRES COMPLEX 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 the 200 block of Chippewa Avenue, South Bend, Indiana, and which is more particularly described as follows: A parcel of land being a part of the Northeast Quarter of the Northeast Quarter of Section 26, Township 37 North, Range 2 East, Centre Township, St. Joseph County, Indiana, and being more particularly described as follows: Beginning at a point on the East line of said Northeast Quarter of Said Section 26, that is 40.00 feet South 01057'08" West of the Northeast Comer of said Quarter Section; thence South 01057'08" West, along said East line, a distance of 1273.37 feet to the Southeast corner of the Northeast Quarter of said Northeast Quarter; thence North 89 °59'38" West, along the South line of said Quarter Quarter Section, a distance of 889.51 feet; thence North 02 °23'27' East, a distance of 898.06 feet; thence North 01'04'58" East, a distance of 375.32 feet to a point on the South right -of -way line of Chippewa Avenue; thence South 90 °00'00" East, parallel with the North line of said Northeast Quarter and along said South right -of -way line, a distance of 888.34 feet to the place of beginning containing 25.88 acres more or less. and which has Key Number 23 -1013 -0753 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et seq. and South Bend Municipal Code Sections 2 -76 et seq.; 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 -1, et seq., and South Bend Municipal Code Sections 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 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 -1 et seq. and qualify under the relevant provisions of the South Bend Municipal Code 2 -76 et seq. 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 Section 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 an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. The Council further finds that the proposed project on the subject real estate meets the special exception provisions set forth in Section 2 -84 of the South Bend Municipal Code. Said real estate has been vacant for a considerable period of time, is undeveloped, underutilized, and meets the obsolescence criteria of state law. SECTION V. The designation of 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 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. z, Member of the Common Cou cil PRESENTED NOT APPROVED ADOPTED ` r1, ) /, /b� � � , 1'I� Filed in Clerk's Off Ice LO C �T2 8 1996 LORETTA d. DUDA CRY CLERK, BO. BEND, IN.