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HomeMy WebLinkAboutDesignating Tax Abatement - Enterprise Associates 903 S. Main St. (5 Year Real Property) RESOLUTION NO. 1391-86 Passed by the Common Council of the City of South Bend, Indiana, January 13,19 86 , Attest: `v` �'. . ` � City Clerk Attest: `to" .- . P !� P� President of Common Council. Presented by me to the Mayor of the City of South Bend, Indiana January 14 ,19 86 lC / City Clerk Approved and signed by me / /v/!,at 5 19 . 2 //1/ Mayor RESOLUTION NO. (3 C{ 1 -g c, A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS 903 S. Main Street 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 903 S. Main Street, South Bend, Indiana, and which is more particularly described as follows: Lots 27, 28, 29 and 30 in the recorded plat of "SOUTH BEND CITY ADDITION" as recorded in the records of St. Joseph County, Indiana, EXCEPTING: The South 10 . 00 ft. of Lot #30. ALSO: The East half of a vacated alley lying West of and adjacent to said parcel. be designated as an Economic Revitalization Area under the provisions 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 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 II. That this designation shall be limited to five (5) 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. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. , _ , L _ A , °cam 14---)=m. As/ of the Co Ton Council nit E3 IN CLEWS URGE PRESENTED 1-i3-et DEC 1 1 1985 NOT APPROVED IRENE GAMMON ADOPTED - ( - ef" "ITV CI.P K, SO. BFMn IN PARKER&JAICOMO • Attorneys First Bank Building Thomasl.Brunner,Jr. 205 W Jefferson John C.Hamilton South Bend,Indiana•46601 Timothy J.Hartzer (219)234-4149 Richard L Hill RonaldJJaicomo Robert M.Parker Richard W.Snyder Mary Ann Boulac December 11, 1985 • Members of the Common Council City of South Bend County-City Building South Bend, IN 46601 Dear Council Members: The enclosed Real Property Tax Abatement Petition and resolutions are filed by Enterprise Associates, an Indiana partnership, for a rehabilitation project to be located at 903 S. Main Street. Enterprise Associates intends to rehabilitate the 45,000 square foot South Bend Carton Building, located at 903 S. Main Street, for a mixture of new uses including loft office space and limited retail use. Built in 1898, the South Bend Carton Company building has undergone a variety of uses in its 87 year history. Recent times have seen it fall prey to the perils of an extended vacancy. Although water damage and the absence of a heating plant were major concerns, the structural function of the building was superb and represents one of the last post and beam constructed buildings in the City. Letters of intent have been executed for one-half of the existing 45,000 square feet with occupancy to occur immediately after rehabilitation. Members of the Enterprise Associates partnership are James A. Cook and Michael F. Boehm. The property in question is located within an allocation area designed by the Common Council. It is estimated that the value of this property after completion of the proposed project will be $600,000. It is likewise estimated that the project will create at least six new, permanent fulltime jobs as its direct result. • Members of the Common Council December 11, 1985 Page 2 Enterprise Associates respectfully request your favorable consideration of these resolutions. Very ruly yo , T • s J. ',: ner, r. TJB:cce Encls.