HomeMy WebLinkAboutDesignating Tax Abatement - Heritage Homes Southeast Various Addresses (10 Year Real Property)RESOLUTION
NO. 2202 -94
Passed by the Common Council of the City of South Bend, Indiana
December 19, 1994
Attest: T ` City Clerk
Presented by me to the Mayor of the City of South Bend, Indiana
December
41� 4 �
Approved and signed by me
20, 94
of Common Council.
19
City Clerk
Mayor
RESOLUTION NO. /V
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 1200 BLOCK FELLOWS (EAST SIDE),
500 BLOCK WENGER (SOUTH SIDE), 1200 BLOCK RUSH (WEST SIDE), AND
500 BLOCK PENNSYLVANIA (BOTH SIDES) AN ECONOMIC REVITALIZATION
AREA FOR THE PURPOSE OF A 10 YEAR REAL PROPERTY TAX ABATEMENT
FOR HERITAGE HOMES SOUTHEAST
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 1200 block Fellows (east side), 500 block Wenger
(south side), 1200 block Rush (west side) and 500 block Pennsylvania (both sides), South
Bend, Indiana, and which is more particularly described as follows:
Lots numbered 100 through 107, inclusive,
Lots numbered 118 through 121, inclusive,
Lots numbered 132 through 139, inclusive,
as shown on the plat of Wenger's 5th Addition,
Also, Lots numbered 157 through 164, inclusive,
as shown on the plat of Wenger's 6th Addition,
as recorded in the office of the Recorder of
St. Joseph County, Indiana .
and which has Key Numbers:
18- 7014 -0525
18- 7023 -0887
18- 7023 -0909
18- 7014- 0525.01
18- 7023 -0888
18- 7023- 0909.01
18- 7014 -0526
18- 7023 -0889
18- 7023 -0910
18- 7014 -0527
18- 7023 -0890
18- 7023 - 0910.01
18- 7014 -0528
18- 7023 -0891
18- 7023 -0922
18- 7014 -0529
18- 7023 -0892
18- 7023 -0923
18- 7014 - 0529.01
18- 7023 -0893
18- 7023 -0924
18- 7014 -0530
18- 7023 -0894
18- 7023 -0925
18- 7014 -0531
18- 7023 -0895
18- 7023 -0926
18- 7014 -0532
18- 7023 -0896
18- 7023 -0927
18- 7023 -0907
18- 7023 -0928
18- 7023 -0908
18- 7023 -0929
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 sea. 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 sea., 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
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 in 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 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 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) 100% of the units will be rented to low- income individuals or
families;
(2) $3,000,000 in hard dollar costs is 75% of the $4,000,000 guideline
and far exceeds the $1,000,000 guideline for six (6) year abatement;
(3) The project would be an integral part of the City's redevelopment
plans for the area and would make a significant contribution to neigh-
borhood revitalization.
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 Real Property listed herein is declared a Residentially Distressed
Area as described in Indiana Code Section 6- 1.1- 12.14.1 and as further defined as an
RDA in Section 2 -76.1 of the South Bend Municipal Code.
SECTION VIII. The Common Council hereby 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 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 12- I % �9 y
NOT APPROVED
ADOPTED
5W d 'm Clerk' w 'Office
DEC - 8 1 994