HomeMy WebLinkAboutDesignating Tax Abatement - 3606 Gagnon (10 Year Property)RESOLUTION
NO. 1591 -88
Passed by the Common Council of the City of South Bend, Indiana,
Attest:
Presented by me to the Mayor of the City of South Bend, Indiana
February 23, 1988
Clerk
of Common Council.
City Clerk
Approved and signed by me J0- X-u.4'1},U
°� ` Mayor
RESOLUTION NO. j Z g j -2:9
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
3606'Caanon
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
36116 Gag , South Bend,
Indiana, and which is more particularly described as follows:
Approximately 2.1 acre tract of land in nart
of North east quarter section 28, Townshin 38
North Ranae 2 east city of South Bend,St. Joe
county South Bend. 260.45 X 351.14
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. That the Common Council hereby determines and
finds that the estimate of the number of individuals that will be
employed or whose employment will be retained and the estimate of
the annual salaries of those individuals and the estimate of the
value of the redevelopment or rehabilitation and any other benefits
about which the body designating the economic revitalization area
requires information are benefits that can be reasonably expected
to result from the proposed described redevelopment or
rehabilitation.
SECTION II. That the Common Council hereby determines and
finds the following:
(A) If the proposed redevelopment or rehabilitation does
not occur, the approximate current year tax rate for the
City would be $ 15.0781 ;
(B) If the proposed redevelopment or rehabilitation does
occur and no deduction is granted, the approximate current
year tax rate for the City would be $ 15.0761
(C) If the proposed redevelopment or rehabilitation
occurs, the deduction is granted, and a deduction
percentage of fifty percent (50%) is assumed, the
approximate current year tax rate for the City would be
$ 15.0771
SECTION III. That the Common Council hereby determines
and finds that the proposed described redevelopment or rehabilita-
tion can be reasonably expected to yield the benefits identified in
the statement of benefits set forth as sections 1 through 3 of the
Petition for Real Property Tax Abatement Consideration and that the
statement of benefits is sufficient to justify the deduction
granted under Section 6 -1.1- 12.1 -3 of the Indiana Code.
SECTION IV. That the Common Council hereby
report and recommendation of the Human Resources and
Development Committee that the area herein described
an Economic Revitalization Area and hereby adopts a
designating this area as an Economic Revitalization
purposes of real property tax abatement.
accepts the
Economic
be designated
resolution
Area for
SECTION V. That 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. That 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.
PRESENTED of - a a g�_
NOT APPROVED
ADOPTED o f -1 a - '9g
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