HomeMy WebLinkAboutReconfirming a declaratory resolution 4330-14 designating 237 N. Michigan St for a ten (10) year real property tax abatement for The LaSalle ApartmentsAttest:
RESOLUTION
No. 4535 -16
Passed by the Common Council of the City of South Bend, Indiana
March 14 20-16--
City Clerk
of common Council
Presented by me to the Mayor of the City of South Bend, Indiana
. March 15, 20 16
City Clerk
Approved and signed by me lma vj 20AC
RESOLUTION NO. L 5 - l 0
A RESOLUTION RECONFIRMING THE ADOPTION CERTAIN
DECLARATORY RESOLUTION 4330-14 TINDIANA,
AREAS WITHIN THE CITY OF OUTH BEND
COMMONLY KNOWN AS
237 North Michigan Street, South Bend, IN 46601
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN (10) YEAR
PROPERTY TAX ABATEMENT FOR
The LaSalle Apartments LLC
WHEREAS, the Common Council of the City of South Bend, Indiana, 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 located at 237 North
Michigan Street, South Bend, IN 46601 and which is more particularly described as
follows:
Lot 10 P So Bend
Lot 2 & N 33.45'
Lot 30P
and which has Key Numbers 71-08-12-107-005.000-026 and 026
presently at this point in time, be designated as an Economic Revitalization Area;
WHEREAS, notice of the adoption of auDrsuant to Indiana Resolution
Code 6 1 � 2pu215c
hearing before the Council has been published p
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.
WHEREAS, the Council issued a Confirming Resolution confirming the adoption
of a Declaratory Resolution as Resolution No. 4330 -14 on March 24, 2014; and
WHEREAS, the petitioner has exceeded the two year designation period granted
in the Confirming Resolution, which expired on March 10, 2016; and continues to move
forward with the project with the full expectation of completion in 2016.
WHEREAS. , the Petitioner has requested an additional period of time to complete
construction of the planned project. Due to the transfer of the abatement from the
previous developer, RealAmerica Development, LLC did not have a full two years to
complete the planned project.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
South Bend, Indiana, as follows:
ION I. The Petitioner acknowledges that they have exceeded the two year
SECT
designation period granted in the Confirming Resolution due to the following:
A. This abatement approval was transferred to RealAmerica Development, LLC,
operating as The LaSalle Apartments, LLC, after the previous developer was
unable to move forward on the project. RealAmerica Development, LLC was
granted the transfer on January 21, 2015 and began construction on the building.
The project is currently scheduled to be completed in September 2016.
The Common Council hereby finds that the extension of the designation is appropriate in
light of the aforementioned reason noted above.
SECTION II. The Common Council hereby reconfirms its Declaratory Resolution and
its Confirming 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 C ounclar years from the date of
adoption of the Declaratory Resolution by the Common
SECTION III. The Common Council hereby determines that the property owner is
qualified for and is granted Real property tax deduction for a period of ten (l 0) years as
shown by the attachment pursuant to Indiana Code 6- 1.1- 12.1 -17 and further determines
that the petition, the Memorandum of Agreement between the Petitioner and the City of
South Bend, and the Statement of Benefi s and Ind it Code 1,-12 etlse6, of the
Municipal Code of the City of South B
SECTION IV. This Resolution shall be an full
b the force
od effect from and after its
adoption by the Common Council and approved y _
Member of the Common Council
RRCSEWO ',3114 ) N
T40T APKOVM
�IDOP'"'n 3,/14W0
Filed in Clerk's office
MAR 0 9 2016
KAREEMAH FOWLER
CITY CLERK, SOUTH SEND, IN