HomeMy WebLinkAboutDesignating Tax Abatement - Briarwood South Bend Partnership 419 S. Main (3 Year Real Property)RESOLUTION
NO. 1OL
Passed by the Common Council of the City of South Bend, Indiana
October 8, 90
9
40� A - _____ City Clerk
Attest: 1�l� President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
October 9, 90
F�
Approved and signed by me_ _O tpber 11 ____ I9--U_.
Clerk
Mayor
TAX ABATEMENT DECLARATION
RESOLUTION NO. k ?, k a -Ct 0
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH SEND, INDIANA, COMMONLY
KNOWN AS 419 SOUTH MAIN, AN ECONOMIC REVITALIZATION
AREA FOR PURPOSES OF A THREE YEAR REAL PROPERTY
TAX ABATEMENT FOR THE BRIARWOOD SOUTH BEND PARTNERSHIP
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 419 South Main, South Bend, Indiana, and which is
more particularly described as follows:
Lot 40 and N 44' of Lot 41 Martins Addition to
City of South Bend, Indiana
be designated as an Economic Revilalization Area under the
provisions of Indiana Code 6 -1.1- 12.1 -1 et sea. and South Bend
Municipal Code section 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 sea. and South Bend Municipal Code section 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 I.C. 6 -1.1- 12.1 -1 et sea., and qualifies under the
provision of South Bend Municipal Code Section 2 -76 et sea., for
tax abatement.
SECTION II. The Common Council hereby determines and
finds the following:
A. That the estimate of the value of the redevelopment
or rehabilitation is reasonable for projects of this nature;
B. That the estimate of the number of individuals who
will be employed or whose employment will be retained can
reasonably be expected to result from the proposed described
redevelopment of rehabilitation;
C. That the estimate of the annual salaries of those
individuals who will be employed or whose employment will be
retained can be reasonably expected to result from the proposed
redevelopment or rehabilitation;
D. That the
requested are benefits
from the proposed desc
E. That the
justify the deduction,
I.C. 6 -1.1- 12.1 -3.
other benefits about which information was
that can be reasonably expected to result
ribed redevelopment or rehabilitation; and
totality of benefits is sufficient to
all of which satisfy the requirements of
SECTION III. The Common Council 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 Section 6 -1.1-
12.1-3 of the Indiana Code.
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, 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.
Member of t uncil
Filed in Clerk's Office
BE =--1-1
PRESENTED /0 _ ? - 90
NOT APPROVED
ADOPtED l p _