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HomeMy WebLinkAboutDesignating Tax Abatement - J.M.S. Building Rehabilitation 108 N. Main St. (6 Year Real Property)RESOLUTION NO. 1643 -88 Passed by the Common Council of the City of South Bend, Attest: f "— ' K City Clerk of Common Council. Presented by me to the Mayor of the City of South Bend, India September 13, 19 88 A�- ( _City Clerk Approved and signed by me September 14, 19 88 Mayor RESOLUTION NO. IG (4 2 - FS 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 108 N. MAIN STREET, SOUTH BEND, INDIANA, 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 6 YEAR REAL PROPERTY TAX ABATEMENT FOR J.M.S. BUILDING REHABILITATION WHEREAS, a petition for real property abatement has been I - filed with the City Clerk for consideration. by Common Council of -erat. I the City South Bend, Indiana, requesting that the. area A commonly known as 108 N. Main Street, South Bend,. Indiana 46601, and which is more particularly described as follows: A parcel of land bounded by the line drawn as follows: Commencing at the Southwest- corner of Lot No. 19 in the Original Plat of the Town, now City it:v of South Bend, extending North Ill feet 8 inches; thencp. Fast 70 feet; thence North 20 feet 4 inches to the North line of Lot Nn, 20 in the Original Plat of said Town; thence East nn the North line of said Lot NO, 20; 55 feet; thence South 41 feet; thence West 62 feet 6 inches; thence South 91 feet to Washington Avenue being the South line of said Lot: No. 19; thence West 62 feet 6 inches to the plar.e of beginning, including any excess shown by actual survey. Subject to an easement for light and air in that portion of the above described tract bounded by a line beginning at the point 132 feet North and A9 feet West of the Southeast corner of said Lot No, 19 in the Original Plat of the Town, now City of South Bend; thence South 41 feet; thence East 9 feet; thence North 41 feet; thence West 9 feet to the place of beginning. Also an easement for a right of way from the alley Past of the above described- tract 16 feet wide by 40 feet long East and West, which right of way is 'nnun(3Pd by a. line commencing at a- point 122 feet North of the Southeast corner nf said Lot No. lq in the Ori.grinal Plat of the Town, now City of South Bend; thenc.p. West 40 feet; the-,ice South 16 feet; thence East 40 feet; thence North 16 feet to the place of begi.nnj-ng, being a tract of land. 16 feet wide North and South and 40 feet long Past and West ad-joining and immediately South of the ten foot strip nff the North part of said Lot Nn, 20 and conveyed to James Oliver and J. D. Oliver on A-0rjI 10th, 1884. Said right of way including all the basement and the first story of any building erected over the property of the Rervient estate and which right of way j.s appurtenant to the premises first herein above described, Excepting therefrom the following described tract: A part of Lots Numbered 19 and 20 as shown on the Original Plat of the Town, now City of South Bend, which part is bounded by a line running as follows, vi?: RPg-inning at a point 122 feet North of the Southeast r-nrner of said Lot Numbered 19 in the Original Plat of the Town, nnw City of South Rend, thence (continued) page 2 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 Rewitali7atinn Area. under Tndiana Code 6-1.1-12.1-1tet - and South Rend Municipal Code T . ; section 2-76, et seq_ 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 uu.man Resources and Fronomic Development Committee of the Common Council has reviewed said report ard recommended to the Common Council that the area qualifies as an Eronomic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Ooiinril 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 o f 1; C. 6 -1.1.- 12.1 -I e t seq., and qua I i f i- es under the provisions of South Bend Municipal rode Section 2-76 Pt 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 rehabililtation is reasonable for prolipots 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 expertp.d 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 he 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 7pdPN-eIn-nment or re'ipbilitat-ion: and E. That the totality of benefits is sufficient to justify the deduction, all of which satisfy the requireii.ipnts, of T,C, 6- 1.1- 12.1 -3. SECTION III. The Common Council hereby determines and finds that the proposed described redRVelnpment or rehabilitation can hp reasonably expected to yield the benefits identified in the Statement of Benefits set forth as sections T through TT 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 l7ndiana. Code. SECTION IV. The Common Council hereby accepts the report (continued) page. 3 SECTION VI. The Common Council hereby determines that the property ocen.er in qu.al i fi.ed for arid. granted property tax deduction for a period of six ( 6) years. SECTION VII. The Common. Council directs the City Cleric to cause notice of the adoption of this Declaratnry Resolu.ti.on. 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. (A -,,)A A &OraLc,�� Member of Common Council