HomeMy WebLinkAboutDesignating Tax Abatement - Fortuna Land Company 802 S. Fellows (3 Year Real Property)Attest:
RESOLUTION
NO. 2134 -94
Passed by the Common Council of the City of South Bend, Indiana,
May 23,
Clerk
Attest: 1�244 President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
May 24, 94
19
City Clerk
Approved and signed by me Sla 19.
Mayor
RESOLUTION NO. ,321YV- 1
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 802 S. FELLOWS AN ECONOMIC REVITALIZATION
AREA FOR PURPOSES OF A THREE YEAR REAL PROPERTY
TAX ABATEMENT FOR
FORTUNA LAND 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 802 S. Fellows, South Bend, Indiana, and which is more particu-
larly described as follows:
LOTS 156 THRU 167 EX NE COR LOT 161 AND VACATED ALLEYS E H RUSHES
SECOND ADD KNOWN AS PARCEL #12 MONROE \SAMPLE REDEVELOPMENT AREA
and which has Key Number 18- 3092 -3512, 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 sea.; 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
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 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 Bene-
fits form completed by the Petitioner meet the requirements of
Indiana Code 6 -1.1- 12.1 -1 et seg., 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 de-
scribed redevelopment or rehabilitation;
D. That the estimate of the annual salaries of those individu-
als 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 re-
quested are benefits that can be reasonably expected to result
from the proposed described redevelopment or rehabilitation;
and
F. That the totality of benefits is sufficent 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 rea-
sonably expected to yield benefits identified in the Statement of
Bonofito met forth as Sections I throught 11 of the Petition for
Real Property Tax Abatement Consideration and that the Statement of
Benefits form prescribed by the State Board of Accounts are suffi-
cient to justify the deduction granted under Indiana Code
6 -1.1- 12.1 -3.
SECTION IV. The Common Council hereby accepts the report and recom-
mendation of the Human Resources and Economic Development Committee,
that the area herein described be designated an Economic Revitali-
zation 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 for and is granted property tax deduction for a
period of three (3) years.
SECTION VIII. 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 the approval
by the Mayor.
PRESENTED S�a 3/% q
NOT APPROVED,
ADOPTED
Filed In Clerk's Office
L INF.N1 ? 1994
E C4AA?ta`om
C(TT CLERK, so. R +16, IN.