HomeMy WebLinkAboutDesignating Tax Abatement – Retail Property Located at Washington Square LLC 211 W. Washington St. (10 Year Real Property)RESOLUTION
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Passed by the Common Council of the City of South Bend, Indiana
September 28, 15
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Attest:
Presented by me to the Mayor of the City of South Bend, Indiana
September 29, 20 15
City Clerk
President of Common Council
Approved and signed by me S e4 [Ice 119 4 20±5—.
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City Clerk
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RESOLUTION NO. '--( S OL -(5'r
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN
THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
211 West Washington Street
AS AN ECONOMIC REVITALIZATION AREA
FOR PURPOSES OF A TEN (10) YEAR REAL
PROPERTY TAX ABATEMENT FOR
RETAIL PROPERTY LOCATED AT
THE TOWER AT WASHINGTON SQUARE LLC
WHEREAS, a petition for real property tax abatement has been filed with the City Clerk
for consideration by the Common Council of the City of South Bend, Indiana (the "Common
Council ") requesting that portion of the property located at 211 West Washington Street, South
Bend, Indiana which is more particularly described as:
Lots 239 & 240 &
Vac Alley W & Adj
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and which is to be rehabilitated for use as retail property and shall have a separate Key Number
assigned upon the subdivision of the parcel into four (4) separate tax parcels and provided to the
Common Council be designated as an Economic Revitalization Area under the provisions of
Indiana Code § 6 -1.1 -12.1 et seq., and South Bend Municipal Code Sections 2 -76 et seq.; and
WHEREAS, petitioner has agreed to and has accepted responsibility to report any
changes in the final legal description and to report the final, appropriate Key Number to the
Department of Community Investment and to the Office of the City Clerk; and
WHEREAS, the Department of Community Investment 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, et seq., and
South Bend Municipal Code Sections 2 -76, et seq., and has further prepared maps and plats
showing the boundaries and such other information regarding the area in question as required by
law; and
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WHEREAS, the Community Investment 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. The Common Council hereby determines and finds that the Petition for Real
Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet
the requirements of Indiana Code § 6 -1.1 -12.1 et seq., for tax abatement.
SECTION II. The Common Council hereby determines and finds the following:
A. That the description of the proposed redevelopment or rehabilitation meets
the applicable standards for such development;
B. That the estimate of the value of the redevelopment or rehabilitation is
reasonable for projects of this nature;
C. That the estimate of the number of individuals who will be employed or
whose employment will be retained by the Petitioner can reasonably be expected to result from
the proposed described redevelopment or rehabilitation;
D. That the estimate of the annual salaries of those individuals who will be
employed or whose employment will be retained by the Petitioner can be reasonably expected to
result from the proposed redevelopment or rehabilitation;
E. That the other benefits about which information was requested are benefits
that can be reasonably expected to result from the proposed described redevelopment or
rehabilitation; and
F. That the totality of benefits is sufficient to justify the requested deduction,
all of which satisfy the requirements of Indiana Code § 6- 1.1- 12.1 -3.
SECTION III. The Common Council hereby determines and finds that the proposed
described redevelopment or rehabilitation can be reasonably expected to yield benefits identified
in the Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax
Abatement Consideration and the Memorandum of Agreement between the Petitioner and the
City of South Bend, and that the Statement of Benefits form completed by the petitioner, said
form being prescribed by the State Board of Accounts, are sufficient to justify the deduction
granted under Indiana Code § 6- 1.1- 12.1 -3.
SECTION IV. The Common Council hereby accepts the report and recommendation of
the Community Investment Committee that the area herein described be designated as an
Economic Revitalization Area and hereby adopts a Resolution designating this area as an
Economic Revitalization Area for purposes of real property tax abatement.
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SECTION V. The designation as an Economic Revitalization Area shall be limited to
three (3) calendar years from the date of the adoption of this Resolution by the Common
Council. The Common Council determines to make the three (3) calendar year designation rather
than the two (2) calendar year designation due to the size and scope and the complexity of the
rehabilitation of the property.
SECTION VI. The Common Council hereby determines pursuant to Indiana Code 6 -1.1-
12.1 -17 that the property owner is qualified for and is granted a property tax deduction for a
period of ten (10) years as provided in the following alternate abatement schedule:
Real Property
Year Abatement
1
100%
2
100%
3
90%
4
85%
5
85%
6
85%
7
85%
8
60%
9
60%
10
60%
SECTION VII. The Common Council directs the City Clerk to cause notice of the
adoption of this Declaratory Resolution for Real Property Tax Abatement to be published
pursuant to Indiana Code § 5 -3 -1 and Indiana Code § 6- 1.1- 12.1 -2.5, said publication providing
notice of the public hearing before the Common Council on the proposed confirming of said
declaration.
SECTION VIII. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approval by th
SENTED �
NOT. APKOVM
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Hied., it fle- -,rk's Office
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Me SOUTH SEND, IN
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
15 -90 A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA,
COMMONLY KNOWN AS 211 WEST WASHINGTON
STREET AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX
ABATEMENT FOR A RETAIL PROPERTY LOCATED AT
THE TOWER AT WASHINGTON SQUARE LLC
Respectfully report that they have examined the matter and that in their opinion,,
this bill is being recommended to the full Council with no recommendation due to
a lack of a quorum.
This bill was heard by the Community Investment Committee.
Karen L. White
Chairperson, Committee of the Whole