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HomeMy WebLinkAboutDeisgnating Tax Abatement - The Joseph Podell Co. Inc. 3680 W. Sample St. (10 Year Real Property)Attest RESOLUTION NO. 2353 -96 Passed by the Common Council of the City of South Bend, Indiana April 15, 96 19 Clerk Attes Presented by me to the Mayor of the City of South Bend, April 16, 96 19 of Common Council. City Clerk Approved and signed by me T - A, 19 i c . Mayor RESOLUTION NO. :� 3E 3— 96 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 3680 WEST SAMPLE STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR THE JOSEPH PODELL COMPANY, 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 3680 West Sample Street, South Bend, Indiana, and which is more particularly described as follows: That part of the Northeast quarter of Section 18, Township 37 North, Range 2 East, City of South Bend, St. Joseph County which is described as: From the Northwest corner of the East half of the Northeast quarter of said section measure South 90° 99' 00" West along the North line of said section, 630.00 feet and South 00° 02' 31" East 40.00 feet and North 90° 00' 00" East 300.02 feet (300.00 feet record) and South 000 04' 00" West 578.33 feet (South 000 011 52" West, 579.125 feet record) and North 890 24' 13" East, 13.64 feet (North 89° 59' 13" East 13.745 feet record) and South 00° 00' 38" East 250.27 feet to the point of beginning of this description; thence South 890 55' 49" West along the North line of Industrial Avenue (now vacated), 159.99 feet; thence South 000 03' 24" West 400.60 feet; thence South 89° 55' 41" East along the Northerly line of the New Jersey, Indiana and Illinois Railroad, 289.00 feet; thence North 00° 03' 24" East 363.03 feet; thence North 890 56' 24" West 128.96 feet; thence North 00° 00' 38" West 38.00 feet to the point of beginning. and which has Key Number 18 -8112- 421509, 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 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- 12.1-1, et =., 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 -1 et seo., and qualifies under the relevant provisions of South Bend Municipal Code Sections 2 -76 et sea., for tax abatement. SECTION H. 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 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 pursuant to Section 2 -84 of the South Bend Municipal Code finds that ten (10) years is a proper designation in light of the following: 1. The buildings condition requires extensive repair and renovation above and beyond what is normally experienced in these types of projects; 2. Environmental concerns on the property make it difficult, if not impossible, for conventional financing of the project and will require the project to be financed solely by the business; 3. The property is currently not generating any property tax revenues due to its non- profit status and the project will result in a tax paying entity; 4. Extensive renovations have been made to the adjoining Sample Street Business Complex, which is an integral part of the City's redevelopment efforts for the area, and this project will compliment the Complex; 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. _:7� Member of tfie Common (g6uncil P:\MIKE\TAXABATE\ABATES96\PODELL1.RES 2 PRESENTED y- /5 NOT APPROVED ADOPTED `1 -/5 -96 Filed in Cle- : i:> :ace MAR 10 1996 LORETTA J. DUDA CITY CLERIC, $0. BEND, IN.