HomeMy WebLinkAboutDesignating Tax Abatement - Southwest Corner of Bendix Dr. and Sugar Maple Lane (10 Year Real Property) RESOLUTION
NO. 1565-87
Passed by the Common Council of the City of South Bend, Indiana,
December 21, 19 87 .
Attest: City Clerk
!� President of Common Council.
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Presented by me to the Mayor of the City of South Bend, Indiana
December 22, 19 87
"`- ___ City Clerk
Approved and signed by me DQ2c iim,/\ Jh ozy 19 07 .
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ayor
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RESOLUTION NO. [ s er- '7
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
SOUTHWEST CORNER OF BENDIX DRIVE AND SUGAR MAPLE LANE
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 Southwest corner of Bendix Drive and Sugar Maple Lane, South
Bend, Indiana and which is more particularly described as follows:
Approximately 1.25 Acre Tract of Land in the Northeast Quarter of Section 28
Township 38 North Range 2 East, City of South Bend, St. Joseph County, Indiana,
approximately 170' x 321'
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 rehabilitation 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 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 Economic Revitalization Area for
purposes of real property tax abatement.
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.
/ Membe/ of the ommon Coun/
Filed In Clerk's Office
a _ vc-/ DEC 161987
PRESENTED . a
NOT APPROVED IRENE GAMMON
-p CITY CLERK, SD. BEND, IN.
ADOPTED l . - • --- T /