HomeMy WebLinkAboutDesignating Tax Abatement - 3502 W. McGill St. (3 Year Real Property) RESOLUTION
NO. 1548-87
Passed by the Common Council of the City of South Bend, Indiana,
November 23 , 19 R7.
Attest: City Clerk
Attest:Org.. President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
November 24, 19 87
a tC /dp .+ . ,) City Clerk
Approved and signed by me / (,�y� 5 19 V.
/464 Mayor
RESOLUTION NO. I a t g•• 7 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
3502 W. McGill Street South Bend, In. 46628
AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF REAL PROPERTY TAX ABATEMENT.
WHEREAS, a petition for real property tax abatement
consideration has been filed with common council of the city of
South Bend, requesting that the area commonly known as 3502 W.
McGill Street, South Bend, Indiana, and which is more
particularly described as follows:
A part of the northeast quarter of section 28, township 38 north,
range 2 east, City of South Bend, St. Joseph County, Indiana,
described as follows:
Commencing at the northeast corner of said section 28; thence
south 89 degrees 48'05" west (the bearing of the south line of
the southeast quarter of section 28 is assumed north 90 degrees
00'00" west) a distance of 1305.00 feet along the north boundary
of said northeast quarter to the centerline intersection of
Cleveland Road and Kenmore Street; thence south 00 degrees 00'23"
west a distance of 363.70 feet to a cross cut in the pavement;
thence south 09 degrees 59'37" east a distance of 531.87 feet to
a cross cut in the centerline of Kenmore Street; thence south 80
degrees 00'23" west a distance of 40.00 feet to a 1/2" iron
rebar; and being the point of beginning; thence south 09 degrees
59'37" east along the west boundary of the Kenmore Street
right-of-way a distance of 193.65 feet to a 1/2" iron rebar;
thence southerly along said west boundary 213.72 feet along an
arc to the right having a radius of 1869.86 feet and subtended by
a long chord having a bearing of south 06 degrees 43'10" east and
a length of 213.60 feet to a 1/2" iron rebar; thence north 89
degrees 59'37" west a distance of 244.44 feet to a 1/2" iron
rebar; thence north 00 degrees 00'23" east a distance of 382.35
feet to the south boundary of the McGill Street right-of-way a
1/2" iron rebar; thence easterly along said south boundary of
McGill Street right-of-way 90.16 feet along an arc to the left
having a radius of 1944.86 feet and subtended by a long chord
having a bearing of north 81 degrees 20'03" east and a length of
90.15 feet to a 1/2" iron rebar; then continuing along said
boundary north 80 degrees 00'23" east a distance of 86.41 feet to
a 1/2" iron rebar; thence south 54 degrees 59'34" east a distance
of 14.14 feet to the point of beginning and containing 2.000
acres more or less, and is subject to easements, restrictions and
or limitations of record.
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 Si 5.0781
(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 $ 15.0767
(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 $ 15.0774
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 owner is qualified for and is granted property
tax deduction for a period of three (3) 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.
Member .f t e Common Council
Filed In Clerk's Office
NOV 161987
IRENE GAMfitION
P'i:SFNTED ;/-Q3- g CITY CLERK, SO, 8E110, it,
NOT APPROVED n
ADOPTED (1 -se 3-�1 Us LL-0