HomeMy WebLinkAboutDesignating Tax Abatement - Thomas E. Lowe Lot 14 Toll Road Industrial Park (3 Year Real Property)RESOLUTION
NO. 2380 -96
Passed by the Common Council of the City of South Bend, Indiana,
June 24,
Clerk
Attest: /\ / President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
June 25,
City Clerk
Approved and signed by me inj
C
Mayor
RESOLUTION NO. g 6
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
LOT 14 TOLL ROAD INDUSTRIAL PARK
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR
THOMAS E. LOWE
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 Lot 14 Toll Road Industrial Park, South Bend,
Indiana, and which is more particularly described as follows:
LOT 14 TOLL ROAD INDUSTRIAL PARK
and which has Key Number 23- 1013 - 021111, be designated as an Economic Revitalization
Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et 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 -1, et se=C., and South Bend Municipal Code Sections 2 -76, et sep., 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 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 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.
P:\MHM\TAXABATE\ABATES96\LOWEI.RFS
PRESENTED 6-'dpll
NOT APPROVED 9
ADOPTED q
Member of the Common Council
2