HomeMy WebLinkAboutConfirming Tax Abatement - Enterprise Associates 903 S. Main St. (5 Year Real Property) RESOLUTION
NO. 1395-86
Passed by the Common Council of the City of South Bend, Indiana,
January 27,19 86.
Attest: e r` `�"` "°", City Clerk
� /lAttest: A Salt....._.... _ ►' . - President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
January 28 119 86
Nice„,_c__ � ! tt- - -✓ City Clerk
Approved and signed by me fQJ7?LLa)2A7/ c 19 UL
; e l A4t�{ Mayor
RESOLUTION NO. t3Qg- V o
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, COMMONLY KNOWN AS 903 S. Main Street
TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF
REAL PROPERTY TAX ABATEMENT.
WHEREAS, the Common Council of the City of South Bend
has adopted a Declaratory Resolution designating certain areas
within the City as Economic Revitalization Areas for the purpose
of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area
commonly known as 903 S. Main Street and 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.
as an Economic Revitalization Area; and
WHEREAS, notice of the adoption of a Declaratory
Resolution and the public hearing before the Council has been
published pursuant to Indiana Code 6-1. 1-12 .1-2 . 5; and
WHEREAS, the Council held a public hearing for the
purposes of hearing all remonstrances and objections from
interested persons; and
WHEREAS, the Council has determined that the
qualifications for an economic revitalization area have been
met.
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 confirms its
Declaratory Resolution designating the area described herein as
an Economic Revitalization Area for the purposes of tax
abatement. Such designation is for real property tax abatement
only and is limited to five (5) calendar years from the date of
adoption of the Declaratory Resolution by the Common Council.
SECTION II: This Resolution shall be in full force and
effect from and after its adoption by the Common Council and
approval by the Mayor.
4 i?Al, "s 14
Member of the on Council
c1LI:J IN CLERK'S OFFICE
PRESENTED / -� 7-�6 P �DpEC i 1 198��5qq,�qq��pp
NOT APPROVED IRENE GAMMON
ADOPTED "ITY CIFRK, SO. BEND INS I
I �
•
•
•
•
•
•
•
•
•
•
PARKER&JAICOMO
Attorneys •
First Bank Building Thomas.Brunner,Jr
205 W.Jefferson John C Hamilton
South Bend,Indiana•4660] Timothy I.I lancer
(219)234-4149 Richard I..Bill
Ronald 1.laicomo
Robert NI.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.
•
•
1
Members of the Common Council
December 11, 1985
Page 2
Enterprise Associates respectfully request your favorable
consideration of these resolutions.
Very ruly yo4Or,
T as J. ner, r.
TJB:cce
Encls.