HomeMy WebLinkAboutDesignating Tax Abatement - The Tech Centre Building 710 - 720 S. Fellows St. (3 Year Real Property)NO. RESOLUTION
Passed by the Common Council of the City of South Bend,
Attest
September
24,
90
19
Clerk
Presented by me to the Mayor of the City of South Bend, Indiana
September 25, 90
Approved and signed by me
September 25
e.
9
of Common Council.
M
City Clerk
Mayor
(PROPOSED FROM FOR REAL PROPERTY)
TAX ABATEMENT DECLARATION
RESOLUTION NO. /YQG7- Q0
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 710 - 720 SOUTH FELLOWS STREET, SOUTH BEND, INDIANA
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A Three (3)
YEAR REAL PROPERTY TAX ABATEMENT FOR THE TECH CENTRE BUILDING
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 710 - 720
South Fellows Street, South Bend, Indiana, and which is more particularly
described as follows:
LOTS 59 - 64 & 67 - 72 RUSH'S 4TH ADD. & 14' VAC. ALLEY & 27.5'
x 239.53' VAC. RUSH ST. KNOWN AS PARCEL #11 MONROE - SAMPLE
REDEVELOPMENT AREA.
be designated as an Economic Revitalization Area under the previsions of
Indiana Code 6- 1.1- 12.1 -1 et. seq., and;
WHEREAS, the Department of Economic Development has concluded an
investigation and prepared a report with 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 section 2 -76, et seq., and has further prepared
maps and plants 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 and the Statement of Benefits form
completed by the Petitioner meet the requirements of I.C. 6- 1.1- 12.1 -1 et
seq., and qualifies under the provisions of South Bend Municipal Code
Section 2 -76 et seq., 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 or rehabilitation;
C. That the estimate of the annual salaries of those individuals
who will be employed or whose employment will be retained can be
reasonable expected to result from the proposed redevelopment or
rehabilitation;
D. 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
E. That the totality of benefits is sufficient to justify the
deduction, all of which satisfy the requirements of I.C. 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 the 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
be limited to two (2) calendar years
Resolution by the Common Council.
an Economic Revitalization Area shall
form the date of the adoption of this
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 to 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.
ember of the C n Counci
Filed in Clerk's Office
AUr 3 1990
PRESENTED
NOT APPROVED
ADOPTED q_ ay - Cl()