HomeMy WebLinkAboutDesignating Tax Abatement - East Ridge Condominiums (3 Year Real Property)R E SNO L1y43TJ90 N
Passed by the Common Council of the City of South Bend, Indiana
Attest
August 28, 19 89
City Clerk
Presented by me to the Mayor of the City of South Bend, Indiana
August 29, 89
w
of Common Council.
City Clerk
Approved and signed by me_ c3
et
Mayor
RESOLUTION NO. I -7L/3 -F 9
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 East Ridge CondominiurAN ECONOMIC REVITALIZATION
AREA FOR PURPOSES OF A 3 YEAR REAL PROPERTY
TAX ABATEMENT W111
1,
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 East Ridge Condominiums
South Bend, Indiana, and which is more particularly described
as follows:
Beginning S.E. corner Corby and Niles
continuing approximately .901 AC 1- 37 -2E.
Beginning 220.51' E. of SE corner Corby
and Niles TR PC Cont 0.1613 AC Sec 1 -37 -2E
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 section 2 -76 et seq., and;
WHEREAS, the Department of Economic Development has
concluded an investigation and prepared a report with inform-
ation 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 section2 -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 Resouces 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,'ds 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 -7G 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
I-oa:;nnlhly ho rxpoc'tod to re;ttill I rnm Ihr desc l-ib-d
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 rehabili-
tation 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 5 -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 by
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.
PRESENna 7-ay-F5
NOT APPROVE- AN 2 2 1989
ADOPTED g`-
RENE NAME