The URL can be used to link to this page

Home My WebLink AboutDesignating Tax Abatement - Policemen's Federal Credit Union 1142 S. Main St. (3 Year Real Property)RESOLUTION NO. 2001 -92 Passed by the Common Council of the City of South Bend, Indiana December 28, Attest: 9 92 Clerk Attest:_ — President of Common Council. Presented by me to the Mayor of the City of South Bend, December 29, Approved and signed by me fatu�J424_ 92 9 e City Clerk 19 �. Mayor RESOLUTION NO. QQ /- 90� 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 1142 SOUTH MAIN STREET, SOUTH BEND, INDIANA, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE YEAR REAL PROPERTY TAX ABATEMENT FOR POLICEMEN'S FEDERAL CREDIT UNION 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 South Main Street, South Bend, Indiana, and which is more particularly described as follows: That Part of the Northwest Quarter of Section 13, Township 37 North, Range 2 East, Portage Township, City of South Bend, St. Joseph County, Indiana, which is described as: Lots H, I, K, L and M of the recorded Plat of "Stull's Third Addition to the City of South Bend" as shown in Plat Book #6, on Page #109 in the records of the St. Joseph County, Indiana Recorder's Office and being more particularly described as: Beginning at the Southwest Corner of Lot M of the recorded Plat of "Stull's Third Addition to the City of South Bend" as shown in Plat Book #6, Page #109 in the records of the St. Joseph County, Indiana Recorder's Office said point also being the intersection of the east right -of -way line of Main Street and the north right -of -way line of Stull Street; thence N. 00 °- 23' -38" W. along said east line, 198.25 ft. (Record, 198.0 ft.) to the northwest corner of Lot H in said Subdivision; thence N. 890- 21' -44" E. along the north line of said Lot, 165.83 ft. (Record, 165.75 ft.) to the west right -of -way line of a 14 ft. public alley and the northeast corner of said Lot; thence S. 00 °- 30' -02" E. along said west line, 198.37 £t. (Record, 198.0 ft.) to the north right -of -way line of Stull Street and the southeast corner of said Lot M; thence S. 890- 24' -32" W. along said north right -of -way line, 166.20 ft. (Record, 165.75 ft.) to the Point of Beginning. Containing 0.7758 acres or 32,923 square feet. and which has Key Number 18- 8004 -0191; 18- 8004 -0193; 18 -8004 -0195; 18- 8004 -0197; 18- 8004 -0198; 18- 8004 -0199; 18- 8004 -0200, 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, 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 -1 et seq., and qualifies under the relevant provisions of South Bend, Municipal Code Sections 2 -76 et seq., 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; 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 Benefit 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 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. 04 SECTION VIII. effect from and approval by the PREMM NOT APPROVED ADOPTED This Resolution shall be in full force and after its adoption by the Common Council and Mayor. 3 r of the Common Counc � e � iNd En �� irk's offir-- D, id.