HomeMy WebLinkAboutBill 16-25 Confirming the adoption of a declaratory resolution designating 215 Sycamore St as an economic revitalization area for eight (8) years227 W. JEFFERSON BOULEVARD
SUITE 1400 S.
SOUTH BEND, IN 46601 -1830
March 7, 2016
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR
COMMUNITY INVESTMENT
SCOTT FORD, EXECUTIVE DIRECTOR
Council Member Gavin Ferlic, Chairperson
Community Investment Committee
South Bend Common Council
4th Floor, County City Building
South Bend, IN 46601
PHONE: 574/235 -9371
FAx:574/235 -9021
RE: Real Property Tax Abatement Petition for: East Bank South Bend Development,
LLC
Dear Council Member Ferlic:
Please find the attached information pertaining to a real property tax abatement petition for
East Bank South Bend Development, LLC:
➢ Department of Community Investment's summary report
➢ Copy of the petition
➢ Statement of Benefits form
➢ Supporting information.
The report contains the Department's findings relative to the above petition. East Bank
South Bend Development, LLC will be investing approximately $2,500,000 in the
construction of a new six story mixed use building. The project meets the qualifications
for an (8) eight year real property tax abatement. A representative from East Bank South
Bend Development, LLC will be available to meet with the Committee on Monday, March
14, 2016.
Should you or any of the other Council members have any questions concerning the report,
or need additional information, please feel free to call me at 235 -5823.
Sincerely,
14c-f
Aaron Kobb
Director Economic Resources
Filed in Clerk's Office
MAR n 9 2016
KAREEMAH FOWLER
CITY CLERK, SOUTH BEND, IN
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB
RESOLUTION NO.
A RESOLUTION CONFIRMING THE ADOPTION OF A
DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY
KNOWN AS
215 Sycamore Street, South Bend, IN 46617
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF AN EIGHT (8) YEAR REAL
PROPERTY TAX ABATEMENT FOR
East Bank South Bend Development, 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 commonly known as
215 Sycamore Street, South Bend, IN 46617 and which is more particularly described as
follows:
LOT 9 EAST BANK TOWNHOMES MINOR SUB NP #132 01 -06 -11
and which has Key Numbers 018 -5003- 005808 be designated 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. 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 two (2) calendar years from the date of adoption of the Declaratory
Resolution by the Common Council.
SECTION II. The Common Council hereby determines that the property owner is
qualified for and is granted a real property tax deduction for a period of (8) eight 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 Benefits comply with Chapter 2, Article 6, of the
Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et seq.
SECTION III. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approved by the Mayor.
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PRESENTED
NOT APPROY` "'
ADOPTW�
Member of the Common Council
Filed in Clerk's Office
MAR f; 2016
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