HomeMy WebLinkAboutDesignating Tax Abatement - Aledo Company, LLC / O-T-D Corporation 3722 Foundation Ct. (3 Year Real Property)RESOLUTION
NO. 2034 -93
Passed by the Common Council of the City of South Bend, Indiana
April 12, 19 93
Attest: _ tiC ��R— m� City Clerk
Presented by me to the Mayor of the City of South Bend, Indiana
April 13, 93
19
of Common Council.
City Clerk
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Approved and signed by me_ -- -- 19.3
Mayor
RESOLUTION NO.0203 S/- 9,5'
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
3722 Foundation Court, South Bend, Indiana 46628
AN ECONOMIC REVITALIZATION
AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY
TAX ABATEMENT FOR
ALEDO COMPANY, L.LC. (OWNER)
O-T -D CORPORATION (LESSEE)
WHEREAS, a petition for personal 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 3722 Foundation Court, South Bend, Indiana,
46628, and which is more particularly described as follows:
5.72 acres, irregular tract South side Foundation Court beginning 318.73 feet
East and 528.34 feet North of South West corner South East quarter being
lot 6 -5; Airport Industrial Park, phase 3, Section 28- 38 -2E.
and which has Key Number 25 -1010- 040018, 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 seq., 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, gl
seq., and South Bend Municipal Code Sections 2 -76, q 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 -1 et seq., and qualifies under the relevant
provisions of South Bend Municipal Code Sections 2 -76 et sect., 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;
(Revised 11/26/90)
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 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.
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.
(Revised 11/26/90)
wasamo ia- 93
NOT APPROVE
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Mem er oflife Common Council
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