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HomeMy WebLinkAboutDesignating Tax Abatement - Veldman's Crossing Inc. 5316 Western Ave. (3 Year Real Property)Attest: RESOLUTION NO. 2279 -95 Passed by the Common Council of the City of South Bend, Indiana, September 11,19 95 Clerk Attest: a President of Common Council. Presented by me to the Mayor of the City of South Bend, Indiana September 12, 95 19 City Clerk Approved and signed by me 9110 19 (?5. Mayor RESOLUTI0NNO. 0�� / �� A RESOLUTION OF THE COMMON COUNCIL OF THE C= OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 5316 WESTERN AVENUE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE YEAR REAL PROPERTY TAX ABATEMENT FOR VELDMAN'S CROSSING, INC. WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council ofthe City of South Bend, Indiana requesting that the area commonly known as 5316 Western Avenue, South Bend, Indiana, and which is more particularly described as follows: A part ofthe SE 1/4 of Section 8, T 37 N, R 2 E, in the City of South Bend, being more particularly described as follows, to -wit: Beginning at the NW comer of the SE 1/4 of Section 8; thence E along the • line of said SE 1/4 a distance of 283.1 ft.; thence S at right angle to said • line of said SE 1/4 a distance of 247.25 ft.; thence W a distance of 283.38 ft. to a point on the W line of said SE 1/4 that is 246.54 ft. S of the NW comer of said SE 1/4; thence N along the said W line a distance of 246.54 ft. to the place of beginning, situated in St. Joseph County, Indiana, except legal highways; 5111 -88 64 and which has the Key Number be designated as an Economic Revitalization Area under the provisions of Indiana Code 6.1- 12.1 -1 2t seq._ and South Bend Municipal Code Sections 2 -76 A uZ, 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, el sa, and South Bend Municipal Code Sections 2 -76, g1 uZ, and has father 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 ofthe 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 ofthe 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 6-1.1-12.1-121 seq., and qualifies under the relevent provisons of South Bend Municipal Code Sections 2 -76 e1 n%, 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 developments. 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 ofBenefits form prescribed by the State Board ofAccounts are sufficient to justify the deduction granted under Indiana Code 6- 1.1- 12.1 -3. SECTION IV. Time Common Council hereby accepts the report and recommendation of the Human Resources and Economic Revitalization Area 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. 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 and granted property tax deduciton 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. M70;7 Common Council PRESENTED f -! / NOT APPROVED ADOPTED /-` / / 76 Filed in Clerk's Office [:SEP1 T995 0 IRENE9AMMON t CITYCLERK, 80. BEND, IN.