HomeMy WebLinkAboutDesignating Tax Abatement - Eaton Corporation 2930 Foundation Dr. (10 Year Real Property)RESOLUTION
NO. 2194 -94
Passed by the Common Council of the City of South Bend, Indiana
Attest
November 28, 19941
Clerk
Presented by me to the Mayor of the City of South Bend,lndia
November 29, 94
19
Approved and signed by me
of Common Council.
City Clerk
Mayor
RESOLUTION NO. c2
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
2930 FOUNDATION DRIVE
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF TEN -YEAR REAL PROPERTY TAX ABATEMENT FOR
EATON CORPORATION
(Name of Project
WHEREAS, a petition for Real property tax abatement consideration has been filed
with the Common Council of the City of South Bend, requesting that the area
commonly known as 2930 Foundation Drive, South Bend, Indiana, and which is more
particularly described as follows:
PARCEL I: A description of 8.2895 acres of land in the North Half of
Section 28, Township 38 North, Range 2 East, St. Joseph County, Indiana,
said 8.2895 acre tract being part of a certain 12.00 acre tract described
in Deed Book 593, page 47 of the deed records of said St. Joseph County,
said 8.2895 acre tract being more particularly described as follows:
Commencing at a PK nail with disc set at the North Quarter corner of said
Section 28; thence along the Northerly line of said North Half of Section
28, being also the North line of said 12.00 acre tract, North 89 °58'54"
West a distance of 165.00 feet to a PK nail set for the Northwest corner
of said 12.00 acre tract; thence along the Westerly line of said 12.00
acre tract, South 00 °14'02" West a distance of 785.23 feet to an iron bar
set at the pint of beginning of the 8.2895 acre tract herein described;
thence continuing along the said Westerly line, South 00 °14'02" West a
distance of 973.35 feet to a 1 1/4" iron pipe found for the Southwest
corner of said 12.00 acre tract being also the Southwest corner of the
said 8.2895 tract herein described; thence along the Southerly line of
said 12.00 acre tract, South 89 °53'27" East a distance of 371.17 feet to
a 3/4" iron pipe found at the Southeast corner of said 12.00 acre tract,
being also the Southeast corner of the 8.2895 acre tract herein described;
thence along the Easterly line of said 12.00 acre tract, North 00 °12'22"
East a distance of 973.60 feet to a 1" iron pipe found at a corner of said
12.00 acre tract, being also the Southeast corner of a certain tract of
land described in recorded Document No. 9016462; thence along a line of
said 12.00 acre tract, being also the Southerly line of said recorded
Document No. 9016462, North 89 °55'50" West a distance of 370.70 feet to
the point of beginning.
PARCEL II: A description of a portion of the North half of Section 28,
Township 38 North, Range 2 East, St. Joseph County, Indiana, said portion
being more particularly described as follows: Commencing at the North
Quarter corner of said Section 28, being a PK nail and disc marked
"S0307 "; thence along the North line of said Section 28, North 89 °58'54"
West, a distance of 165.00 feet to a PK nail and disc set marked "S0307 ",
thence along the Westerly line of a certain 12.00 acre tract of land
described in Deed Book 593, page 47 on File and of record in the Office of
the Recorder of St. Joseph County, Indiana, South 00 °14'02" West, a
distance of 1758.58 feet to a 1 1/4" iron pipe found for the Southwest
corner of said 12.00 acre tract of land and the point of beginning of said
portion herein describe; thence continuing along the Southerly extension
of said Westerly line, South 00 °14'02" West, a distance of 20.64 feet to
an iron bar set, market "S0307 ", in the northerly Right of Way line of
proposed foundation drive extension as shown on the plat of Airport
Industrial Park, Phase III and IV and recorded as Document No. 7806496;
thence along said Northerly right of way line, North 89 °44'58" East a
distance of 35.92 feet to a 1/2" iron bar found for the Northwesterly
corner of a certain tract of land described in recorded Document No.
8822679; thence along the North 89 °57143 East a distance of 335.26 feet to
an iron bar set; thence along the Southerly extension of the Easterly line
of said 12.00 acre tract of land, North 00 °12'22" East, a distance of
19.56 feet to a 3/4" iron pipe found at the Southeast corner of said 12.00
acre tract of land; thence along the Southerly line of said 12.00 acre
tract of land, being also the Northerly line of said Portion herein
described, North 89 °53'27" West, 371.17 feet to the point of beginning.
and which has Key Number 25 - 1010 - 038401 , be
designated as an Economic Revitalization Area under the provisions of Indiana
Code 6- 1.1- 12.1 -1 et seq., and South Bend Municipal Code Sections 2 -76 et
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, et seq., and South Bend Municipal Code Sections 2-
76 et seq., 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 et se q., and
qualifies under the relevant provisions of South Bend Municipal Code Sections 2-
76 et sea., 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 form 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 VI. 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.
3
PRESENTED /I -2o'C 7
NOT APPROVED
ADOPTED / 1' ,2O �9 V
NOV 1 5 1994 s
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