HomeMy WebLinkAboutDesignating Tax Abatement - Value Plus Construction Co. 2009 & 2015 N. Olive St. (5 Year Real Property)RESOLUTION
NO. 2274 -95
Passed by the Common Council of the City of South Bend,
August 14, 19-2-5—.
Attest: r
Attest:
Presented by me to the Mayor of the City of South Bend, Indiana
August
Approved and signed by me
15, 95
19
Clerk
of Common Council.
19
City Clerk
Mayor
RESOLUTION NO. a a7 q -
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
2009 AND 2015 N. OLIVE STREET
A RESIDENTIALLY DISTRESSED AREA FOR PURPOSES OF A
FIVE (5) YEAR REAL PROPERTY TAX ABATEMENT FOR
VALUE PLUS CONSTRUCTION COMPANY
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 2009 and 2015 N. Olive Street, South Bend, Indiana, and which is
more particularly described as follows:
Lot 593 Vernon Heights Addition
Lot 594 Vernon Heights Addition
and which has Key Numbers 18- 2096 -3644 and 18- 2096 -3648, respectively, be designated as
a Residentially Distressed 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 a Residentially Distressed Area under Indiana Code 6 -1.1-
12.1-1, et sect., 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 a
Residentially Distressed 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 meets the applicable standards
for such development;
B. That the estimate of the value of the redevelopment is reasonable for projects of
this nature;
C. That the other benefits about which information was requested are benefits that
can be reasonably expected to result from the proposed described redevelopment ; and
D. 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 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 Department of Community and Economic
Development that the area herein described be designated as a
Residentially Distressed Area and hereby adopts a Resolution
designating this area as a Residentially Distressed Area for
purposes of real property tax abatement.
SECTION V. The designation as a Residentially Distressed 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 five (5) 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 S
5 -3 -1 and Indiana Code S 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. Pursuant to Indiana Code S 6 -1.1- 12.1 -2, the
Petitioner must meet all local code standards for habitability as
specific conditions of having such properties being designated
residentially distressed areas.
SECTION IX. This Resolution shall be in full force and effect from
and after its adoption by the Common Council and approval by the
Mayor.
PRESENTED �f - / M5
NOT APPROVED
ADOPTED 9 -/y —JS 4S A M011b6D
Red in Clerk's Office
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IRENEGAMMON
CFTYCLEAV,50. BEND, IN