HomeMy WebLinkAboutDesignating Tax Abatement - South Bend Firefighters Federal Credit Union 1122 S. Main St. (3 Year Real Property)RESOLUTION
NO. 2203 -94
Passed by the Common Council of the City of South Bend, Indiana
December 19, Ig94
Presented by me to the Mayor of the City of South Bend, Indiana
December
Approved and signed by me
20, 94
19
U
Clerk
of Common Council.
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City Clerk
Mayor
RESOLUTION NO. 2Q&03--9/
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 1122 SOUTH MAIN STREET AN ECONOMIC REVITALIZATION
AREA FOR PURPOSES OF A THREE YEAR REAL PROPERTY
TAX ABATEMENT FOR
SOUTH BEND FIREFIGHTERS FEDERAL CREDIT UNION
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 1122 South Main Street, South Bend, Indiana,
and which is more particularly described as follows:
Lot Numbered Four (4) as shown on the recorded Plat of
Studebaker Corridor Fourth Minor Subdivision, recorded May
7, 1993 in the Office of the Recorder of St. Joseph County,
Indiana, as Instrument No. 9315731.
and which has Key Number 18- 8003 -0147, be designated as an
Economic Revitalization Area under the provisions of Indiana Code
6 -1.1- 12.1 -1 etsea. and South Bend Municipal Code Sections 2 -76
etseq.. 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,
etsea., and South Bend Municipal Code Sections 2 -76, etseq., 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 etsea., and qualifies under the
relevant provisions of South Bend Municipal Code Sections 2 -76
etseq., 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 of
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 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.
2
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.
from and after
the Mayor.
PRESENTEE 12
NOT APPPOVED
ADOPTED 1.2'
This Resolution shall be in full force and effect
its adoption by the Common Council and approval by
Mon (110. wwro
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DEC
1 3 1994