HomeMy WebLinkAboutDesignating Tax Abatement - East LaSalle and East Raceway (10 Year Real Property)Attest:
RESOLUTION
NO. 1600 -88
Passed by the Common Council of the City of South Bend, Indiana
Attest:
Ap=} 1 25,19 R k
Clerk
of Common Council.
Presented by me to the Mayor of the City of South Bend, Indi
April 26, 1988
City Clerk
r
Approved and signed by me {� t Zt0 19.
Mayor
Resolution No. 1600 -88
Substitute Resolution
No. 88 -20
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
EAST LASALLE AND EAST RACEWAY,
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF REAL PROPERTY TAX ABATEMENT
WHEREAS, a petition for real property :tax.abatement; consideration
has been filed with the Common Council of the City of South Bend,
requesting that the area commonly known as East LaSalle and East
Raceway, South Bend, Indiana, and which is more particularly
described as follows:
A resubdivision of Lots 11 through 21 and Lots 23
through 29, inclusive, along with part of Lot 22 in
Miller and Green's second addition, and Lots 10 through
12, inclusive, in the original plot to the Town of
Lowell, along and together with vacated streets and
alleys and parcels adjacent thereto in the City of
South Bend, Portage Township, St. Joseph County,
Indiana,
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; 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, 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 South Bend Municipal Code
Section 2 -76.
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 by expected to result from
the proposed described redevelopment of 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 III of the
Petition for Real Property Tax Abatement Consideration and that the
completed Statement of Benefits Form prescribed by the State Board of
Tax Commissioners 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 as 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 ten (10) years.
SECTION VII. This Resolution shall be in full force and effect
from and after its adoption by the Common Council and approval by the
Mayor.
of the Common Council
PRESENTED `4 - Z 5- - ot�
NOT APPROVED
ADOPTED q - ---), J - g