HomeMy WebLinkAboutDesignating Tax Abatement - Lafayette Square (3 Year Real Property)Attest:
RESOLYTION
NO. 1 96 -89
Passed by the Common Council of the City of South Bend, Indiana,
January 23,
/� -7 /9%= City Clerk
O
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
January 24, 89
9
Approved and signed by me_ _ t59
City Clerk
Mayor
RESOLUTION NO. Ilv 6 - o q
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 AN AREA BOUNDED BY CEDAR STREET ON THE NORTH,
r EDDY STREET ON THE EAST, VACATED HULL STREET ON
THE SOUTH AND FRANCES STREET ON THE WEST
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF
A THREE YEAR REAL PROPERTY TAX ABATEMENT
FOR LAFAYETTE SQUARE
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 an area bounded by Cedar Street on the north, Eddy Street on
the East, vacated Hull Street on the South and Frances Street on the
West, South Bend, Indiana, and which is more particularly described
as follows:
That part of the Southeast Quarter of Section 1, Township 37
North, Range 2 East, Portage Township, City of South Bend,
St. Joseph County, Indiana which is described as follows:
Beginning at the Northwest corner of Lot Numbered 1 in Hull's
Subdivision of Block 11 of Cotrell's First Addition to the Town
of Lowell as recorded in Plat Book # 10, Page # 105; thence N.
900- 00' -00" E. along the South right -of -way line of Cedar
Street, 98.96 ft. (Record 99.00 ft.); thence S. 000- 14' -43" E.,
88.32 ft.; thence S. 890- 52' -57" E., 82.99 ft. to the West line
of a 14.00 ft. wide public alley; thence S. 000- 16' -18" E.
along said West line, 14.00 ft. to the North line of a 14.00 ft.
wide public alley; thence S. 890- 52' -57" E. along said North
line, 208.49 ft. to the East right -of -way line of Eddy Street;
thence S. 000- 02' -27" E. along said West line, 102.74 ft.
(Record 103.00 ft.) to the centerline of vacated Hull Street;
thence N. 890- 55' -26" W. along said centerline, 390.15 ft. to
the East right -of -way line of Frances Street; thence N.
000- 13' -35" W. along said East line, 205.14 ft. to the point of
beginning.
Containing 1.00 acre and comprised of one (1) Lot.
be designated as an Economic Revitalization 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 provisions 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 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 designation as an Economic Revitalization Area
shall be limited to two (2) calendar years from the date of the
adopotion of this Resolutuion 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.
PRESENTED i -Ql$-E9
NOT APPROVED
ADOPTED )-a3-69
Me a of the Commo ncil
JAN 1 8 1989
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