HomeMy WebLinkAboutDesignating Tax Abatement - Parkview Associates Southeast Corner of St. Louis & Wayne St. (3 Year Real Property) RESOLUTION
NO. 1503-87
Passed by the Common Council of the City of South Bend, Indiana,
May 11, 19 87 _
Attest: City Clerk
Attestepladleolo President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
May 12, 19 87
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Approved and signed by me -m IZ 19 87 .
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RESOLUTION NO. !cos-77
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN
AREAS WITHIN THE CITY COMMONLY KNOWN AS
THE SOUTHEAST CORNER OF ST. LOUIS AND WAYNE STREETS
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
the Southeast Corner of St. Louis and Wayne Streets, South
Bend, Indiana, and which is more particularly described by a
line drawn as follows :
A parcel of land being a part of the Northeast Quarter
of Section 12, Township 37 North, Range 2 East, City
of South Bend, Portage Township, St. Joseph County,
Indiana and being more particulary described as fol-
lows :
Lots 264 through 268, Lots 273 and 274, the west 55
feet of Lots 270 through 272, and the south 40 feet of
Lot 272, of Cottrell ' s First Addition to Lowell ' s,
City of South Bend.
Along and together with parts of Lots 269 and 275 as
shown on said plat described as beginning at the
Northwest corner of said Lot 269 ; thence North
89-42 ' -28" East, along the North line of said Lots 269
and 275 and their Easterly projection a distance of
410 .40 feet to the Southwest corner of Lot 340 in said
recorded plat; thence South 89-41' -01" West, along the
Westerly projection of the South line of said Lot 340,
a distance of 32.85 feet; thence South 85-28 ' -03"
West, a distance of 212. 60 feet; thence South
79-35 ' -35" West, a distance of 167. 67 feet to a point
on the West line of said Lot 269; thence North
0-15 ' -45" West along said West line to the place of
beginning.
Along and together with the first east/west alley
south of Wayne Street running between St. Louis Blvd.
and St. Peter Street, and the first north/south alley
east of St. Louis Blvd. running between Wayne and the
first east/west alley south of Wayne Street.
be designated as an Economic Revitalization Area under the pro-
visions of Indiana Code 6-1. 1-12. 1-1, et seq. ; and
WHEREAS, the Redevelopment Commission 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 has further prepared maps and plats showing the
boundaries and such other information as required by law of the
area in question; 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 accepts the
report and recommendation of the Human Resources and Economic
Development Committee that the area herein described be desig-
nated 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 II . That this designation shall be limited to
two (2) calendar years from the date of the adoption of this
Resolution by the Common Council .
SECTION III . That the Common Council directs the City
Clerk to cause notice of the adoption of this resolution to be
published, said publication providing notice of the public
hearing before the Common Council on said declaration.
SECTION IV. The Abatement deduction shall be for
three (3) years . This determination is made under the
authority of I .C. 6-1. 1-12 . 1-3 .
SECTION V. This Resolution shall be in full force and
effect from and after its adoption by the Common Council and
approval by the Mayor.
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�embe/ of the Common C f cil
MAY 31987
PRESENTED S// 2, C ` ae L. � Y n
ROT APPRr
'ADOPTED tr.// 87 -2-
BARNES a THORNBURG
600 1ST SOURCE BANK CENTER
1313 MERCHANTS BANK BUILDING 100 NORTH MICHIGAN 305 FIRST NATIONAL BANK BUILDING
II SOUTH MERIDIAN STREET 301 SOUTH MAIN STREET
INDIANAPOLIS,INDIANA 46209 SOUTH BEND, INDIANA 46601 ELKHART,INDIANA 46516
13171838-1313
> 12191 293-0681
(219) 233-1171
SUITE 600 FEDERAL BAR BUILDING
ONE SUMMIT SQUARE TWX 810-341-3427 B&T LAW IND 1616 H STREET,N.W.
FORT WAYNE,INDIANA 46802 WASHINGTON,D.C.20006
12191923-9490 TELECOPIER(219)237-1125 12021 958-4500
ERNEST J. SZARWARK
12191 2371193
May 6, 1987
Ms . Irene Gammon
City Clerk
4th Floor
County-City Building
South Bend, Indiana 46601
Dear Ms . Gammon:
Please find enclosed herein:
(1) A check in the amount of $150 . 00;
(2) A Petition for Consideration of Real Property Tax
Abatement for the Parkview Associates project;
(3) A form of Resolution in accordance with the form
prescribed by the City; and
(4) A form of Confirmatory Resolution in accordance
with the form prescribed by the City.
On behalf of Parkview Associates we hereby respect-
fully request the City to consider granting real property tax
abatement for a three year period for the proposed project.
This project will be located on the southeast corner
of St. Louis and Wayne Streets in South Bend, Indiana. This
location is on the east side of the St . Joseph River near the
downtown area of South Bend.
The project consists of a two-story, 40, 000 square
foot professional office building, together with sufficient
on-site parking . It is estimated that this project will create
150 new, permanent full-time employment opportunities
representing a new annual payroll in the neighborhood of
$2, 000, 000. The project itself will cost approximately
$2, 500, 000 in real property improvements. Also, it is esti-
mated that tenants will make additional real and personal prop-
erty improvements .
Ms . Irene Gammon
May 6, 1987
Page 2
Of special significance to the City is the ability of
this project to act as a magnet attracting additional develop-
ment to the east side of the St . Joseph River contiguous to the
downtown area of South Bend.
Tax abatement is especially needed for this property
because of its location. No building has existed on the prop-
erty for several years and the property has severe topographi-
cal characteristics which, together with the cement and debris
remaining from the period when this real estate was part of a
railroad right-of-way, create severe construction problems and
additional site preparation expenses .
In short, this project offers several benefits to the
City:
- Approximately 150 jobs with an annual payroll
increase of approximately $2, 000, 000;
- The construction of a $2, 500, 000 building;
- Additional real and personal property taxes gener-
ated by tenant improvements;
- The creation of a magnet to attract further up-scale
development in this neighborhood;
- The full utilization of a parcel of property which,
because of its unique historical and topographical
characteristics, would in all probability never be
utilized in a comparable manner; and
- The clean up of a long vacant parcel which has been
a neighborhood eyesore for many years.
We wish to thank you for your kind consideration of
this project and request that you put it on the agenda for the
City Council meeting to be held on May 11, 1987.
Sincerely yours,
Ernest J. Szarwark
EJS:kas
Enclosures
cc: Ms . Kathy Cekanski-Ferrand
Ms. Eugenia Schwartz
Bruce R. Bancroft, Esq.
Richard W. Morgan, Esq.
BARNES Sc THORNBURG