HomeMy WebLinkAboutDesignating Tax Abatement - Center Management corporation 716 N. Niles Ave. (6 Year Real Property) RESOLUTION
NO. 1532-87
Passed by the Common Council of the City of South Bend, Indiana,
Septenber 14, 19 87 •
Attest: ° AC "`""`O—U City Clerk
/ 1
Attest:tr/ -sue , President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
September 15, 19 87 .
City Clerk
Approved and signed by me S 14BEE /5� 19 g7
4/1,11 Mayor
RESOLUTION NO. %5'3 a- R /
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
716 North Niles Avenue
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 716 North Niles Avenue, South Bend, Indiana, and which is
more particularly described as .follows:
A parcel of land being a part of the North Half of the South Half of Section
One, Township 37 North, Range 2 East, South Bend, St. Joseph County, Indiana and
being more particularly described as follows, viz:
Beginning at a point on the South line of Corby Street, South 89° 48' 40" West
120.00 feet from the West line of a fourteen (14) foot alley on the West side of
Cedar Heights Addition to the City of South Bend, Indiana, thence continuing
along said South line of Corby Street, South 89° 48' 40" West, 258.66 feet;
thence South 16° 17' 47" West 141.77 feet; thence South 64° 53' 57" West, 200.00
feet to the Easterly line of Niles Avenue; thence South 25° 06 ' 03" East along
said Easterly line of Niles Avenue 312.26 feet; thence North 64° 53' 57" East,
255.00 feet thence south 25° 06' 03" East, parallel with said Easterly line of
Niles Avenue 20.00 feet; thence North 71° 52' 29" East 250.00 feet thence North
0° 31' 18" West 170.00 feet, thence South 89° 48' 40" West parallel with the
Southerly line of Corby Street, 120 feet thence North 0° 31' 18" West parallel
with said West line of fourteen (14) foot alley 150.00 feet to the point of
beginning.
Subject to legal Highways.
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 remain at 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 15.0542;
(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 15.0616.
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 an 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
owned is qualified for and is granted property tax deduction for a period of six
(6) 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.
ember of the Common Counci
if
PRESENTED /�•-/ 8� Filed In Clerk's Office
NOT APPROVED // SEP 91981
ADOPTED 9- 17- p ry 7� 0...6 I
�.6L n
IRENE GAMMON
CITY CLERK, SO. BEND, d?1,