HomeMy WebLinkAboutDesignating Tax Abatement - P.A.I. Properties 3601 Lathrop (6 Year Real Property)RESOLUTION
NO. 1988 -92
Passed by the Common Council of the City of South Bend, Indiana
November 23, 19 92
Attest: 'i`""� °° u City Clerk
Attest:
Presented by me to the Mayor of the City of South Bend, Indiana
November 24, 92
19
of Common Council.
City Clerk
Approved and signed by me_
Mayor
RESOLUTION NO. 1"? 92)
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 3601 LATHROP AN ECONOMIC REVITALIZATION
AREA FOR PURPOSES OF A SIX YEAR REAL PROPERTY
TAX ABATEMENT FOR
P.A.I. PROPERTIES
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 3601 Lathrop, South Bend, Indiana, and which is more
particularly described as follows:
A part of the Southeast Quarter of Section 28, Township 38 North, Range 2
East of the Second Principal Meridian, German Township, St. Joseph County,
Indiana and described as follows:
Commencing at the Southeast corner of said Section 28 said point being at
the intersection of centerlines of Bendix Drive and Lathrop Street, thence
North 90 -00 -00 West (bearing assumed) along the South line of the Southeast
quarter of said Section 28 (being along the centerline of Lathrop) 1423.75
feet; thence North 00 -05 -56 East, 40.00 feet to the point of beginning; thence
North 90 -00 -00 West 454.93 feet; thence North 00 -05 -56 East, 803.76 feet;
thence North 45 -40 -30 East, 243.40 feet; thence North 44 -29 -49 East, 191.12
feet to the South line of 40' easement granted to C.S.S. and South Bend
Railroad; thence South 45 -02 -33 East along the said southerly easement
202.36 feet; thence South 00 -16 -23 East, 606.98 feet; thence South 00 -05 -56
West, 360.20 feet to the point of beginning and containing 10.226 acres more
or less and is subject to easements, restrictions and or covenants of record.
and which has Key Number 25- 1010040023, be designated as an Economic Re ' ization
Area under the provisions of Indiana Code 6- 1.1- 12.1 -1 et se q. 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 se q.,
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 Benefits form completed by the Petitioner
meet the requirements of Indiana Code 6 -1.1- 12.1 -1 et sea., and qualifies under the relevant
provisions of South Bend Municipal Code Sections 2 -76 et se q., 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 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 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 six (6) 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.
EJS01508
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PRESENTIO / / -1:2 3 -9A
NOT APPROVED
ADOPTED // ;�7 3 — 4 R
Member of the Common Council
I Signed on!-:7 to
part—,ty 1C
L ';!m.;11.
Filed in Mrk`s Office
NOV _4