HomeMy WebLinkAboutDesignating Tax Abatement - Niles/Colfax Associates 431 E. Colfax Ave. (6 Year Real Property)RESOLUTION
NO. 1776 -90
Passed by the Common Council of the City of South Bend, Indiana,
April 9, 90
19
Attest: + K J _ City Clerk
Attest:
Presented by me to the Mayor of the City of South Bend,
April
10,
90
19
of Common Council.
City Clerk
Approved and signed by me_ April 12 19 90 .
Mayor
RESOLUTION NO. /? 76 -q6
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 431 E. COLFAX AVENUE AN ECONOMIC REVITALIZATION
AREA FOR PURPOSES OF A 6 YEAR REAL PROPERTY
TAX ABATEMENT FOR:
NILES /COLFAX ASSOCIATES
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
431 E. Colfax Avenue, South Bend, Indiana, and which is more
particularly described as follows:
A parcel of land being a part of the Lots 38 thru 42 inclusive along
with vacated alleys, or parts thereof in the Original Plat to the Town
of Lowell, now City of South Bend, Portage Township, St. Joseph County,
Indiana being more particularly described as follows:
Beginning at the Southeast corner of said Lot 42, thence North
89- 54' -0" West along the South line of said Lot 42 also being the
North right -of -way of Colfax Street, a distance of 139.77 feet; thence
North 4- 51' -15" West, a distance of 70.11 feet; thence North 5- 27' -02"
West, a distance of 66.59 feet, thence North 3- 49' -42" West, a distance
of 66.69 feet; thence North 5- 09' -10" West, a distance of 14.89 feet;
thence North 6- 33' -25" West, a distance of 68.34 feet to the North line
of a 16 foot alley; thence North 89- 57' -07" East along the North line
of said alley, a distance of 178.84 feet to the West right -of -way line
of Niles Avenue; thence South 0- 12' -20" West along the West right -of-
way line of said Niles Avenue, a distance of 347.40 feet to the place
of beginning containing 1.245 acres more or less.
Subject to any easements, covenants or restrictions of record.
Be designated as a Economic Revitalization Area under the provisions of
Indiana Code 6 -1.1- 12.1 -1 et seq. and South Bend Municipal Code
section 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, et seq. and
South Bend Municipal Code section 2 -76 et se g., 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 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
reasonably 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 designaton 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, 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 e mmon ncil
Filed` in p
PRESENTED a- �a- q
NOT APPROVED
IRENE GAMMON
ADOP i 4- 9 - �(� GoQ/�ze /�71Q� CITY CLER, K g =Np