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HomeMy WebLinkAboutDesignating Tax Abatement - Toll Road Industrial Partners L.P. Lot 18C Toll Road Industrial Park (5 Year Personal Property)RESOLUTION NO. 2106 -94 Passed by the Common Council of the City of South Bend, Indiana Attest March 14, 19 \ 94 Clerk Presented by me to the Mayor of the City of South Bend, I March 15, 194 Approved and signed by me of Common Council. City Clerk 3 /(7 19c I . Mayor RESOLUTION NO. ad / v G - 9'5e 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 LOT 18C TOLL ROAD INDUSTRIAL PARK, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN -YEAR REAL PROPERTY TAX ABATEMENT FOR TOLL ROAD INDUSTRIAL PARTNERS L.P. 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 Lot 18C Toll Road Industrial Park, South Bend, and which is more particularly described as follows: A parcel of land in the southeast quarter of Section 21, Township 38 North, Range 2 East, German Township, St. Joseph County, Indiana and described as follows: Beginning at the northeast comer of the southeast quarter of said Section 21: Thence north 00 degrees 45' 45" west along the east line of Lot 18 -B of Gainey's replat of Lot 20, Section 1 and Lot 18, Section 6, Toll Road Industrial Park, as recorded under Instrument Number 9029253, dated October 19, 1990, in the Office of the Recorder, St. Joseph County, Indiana, a distance of 943.54 feet to the northeast comer of said Lot 18 -B; thence south 88 degrees 53' 36" west along the north line of Lot 18 -B, a distance of 932.88 feet; thence south 00 degrees 56' 57" east, along the west line of Lot 18 -B, a distance of 1130.08 feet; thence north 88 degrees 53' 36" east, a distance of 930.01 feet to the east line of Lot 18 -B; then north 01 degrees 00' 44" west, along the east line of Lot 18 -B, a distance of 186.55 feet to the place of beginning, and containing 24.1557 acres, more or less, and is subject to any easement, restrictions and /or covenants of record. and has Key Number 25- 1013 -0216, 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 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 ems., and South Bend Municipal Code Sections 2 -76, etetseg., 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 et seq.. 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 application 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 by 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 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 VII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. PRESENTED 3 /14 ( g4 NOT APPROVED ADOPTED. 311q ft4 Member of the o on Council Filed In Clerk's Office 1994 ' IRENE GAMMON —III Ctrr CLERK, SO. SEND, IN.