HomeMy WebLinkAboutDesignating Tax Abatement - Martin's Realty Co. Corner of Elwood and Portage Ave. (3 Year Real Property)Attest:
RESOLUTION
NO. 2085 -93
Passed by the Common Council of the City of South Bend, Indiana,
Attest
December 13, 19 93
Clerk
Presented by me to the Mayor of the City of South Bend, Indiana
December 14. I9_-33
of Common Council.
City Clerk
Approved and signed by me � 4ii�'OG� I 19_L3_.
G,
Mayor
RESOLUTION NO. ;;)o SAS— 4 3
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 THE CORNER OF ELWOOD AND PORTAGE AVENUES
SOUTH BEND, INDIANA
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A THREE YEAR REAL PROPERTY
TAX ABATEMENT FOR
MARTIN'S REALTY CO.
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 the Corner of Elwood and Portage Avenues, South Bend,
Indiana, and which is more particularly described as follows:
A tract or parcel of land in the North West Quarter of Section No. 2 in Township No. 37
North, Range No. 2 East, being in the City of South Bend, described as follows, viz:
Beginning at a point on the South line of Elwood Avenue, which point is 20
feet South and 975 feet East of the Northwest corner of the Northwest 1/4 of
Section 2, Township 37 North, Range 2 East, running thence South 1184.17
feet more or less to the Northerly line of the Chicago, Indiana & Southern
Railroad Company's right -of -way; thence Northeasterly along said Northerly
line of said Chicago, Indiana & Southern Railroad Company's right -of -way
1063.7 feet to the Southwesterly line of Portage Avenue; thence Northwesterly
along said Southwesterly line of Portage Avenue 389.5 feet to the South Line
of Elwood Avenue; thence West along the South line of Elwood Avenue 363.4
feet to the place of beginning.
Excepting therefrom the following described parcel, beginning in the
Southwesterly line of Portage Avenue in said City of South Bend, at a point
South 37 degrees 48 minutes East 197.0 feet from the intersection of the
South line of Elwood Avenue with the Southwesterly line of said Portage
Avenue running thence South 37 degrees 48 minutes East along said
Southwesterly line of said Portage Avenue, 152.0 feet to a point 39.5 feet,
measured at right angles from the Northwesterly right -of -way line of the
Chicago, Indiana & Southern Railroad; thence South 37 degrees 20 minutes
West 103.6 feet on the long chord of a curve to the left, which curve is
parallel to and at all points 39.5 feet distant from the said Northwesterly
right -of -way line of said Chicago, Indiana & Southern Railroad; thence North
37 degrees 48 minutes West 178.65 feet; thence North 52 degrees 12 minutes
East 100 feet to the place of beginning.
Also excepting therefrom the following described parcel, beginning at the
intersection of the Westerly line of Portage Avenue and the South line of
Elwood Avenue in the City of South Bend, Indiana, thence Southeasterly
along the Westerly line of Portage Avenue 112 feet; thence angle
Southwesterly 90 degrees a distance of 80 feet; thence Northwesterly parallel
with the Westerly line of Portage Avenue, 123.75 feet; thence North 39.57
feet, to the South line of Elwood Avenue, said point being 70.4 feet West of
the intersection of said Elwood Avenue and Portage Avenue; thence East
along the South line of Elwood Avenue 70.4 feet to the place of beginning.
and which has Key Numbers 18 -1094 -3941, 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 seq.,
and South Bend Municipal Code Sections 2 -76 et3zq., 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 3M., and qualified under the relevant
provisions of South Bend Municipal Code Sections 2 -76 et sec., 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 or 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;
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; and
G. That the area described above is located in a properly designated Economic
Development Target Area.
SECTION III. The Common Council hereby determines and finds that the proposed
described redevelopment or rehabilitation can be reasonably expected to yield the benefits
identified in the Statement of Benefits as set forth in Section 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.
2
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 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.
EJS02278
-PRESENTED le6l93
NOT APPROVED
ADOPTED j a--L- ( 3 - �! 3
Member of the Common Council
Filed In Clerk's Office
N 0 V 1 8 1993
UIENEaiWMON
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