08-14-06 Council Meeting Minutes

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REGULAR MEETING AUGUST 14, 2006 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 Lock Joint Tube, South Bend, Indiana, and which is more particularly described as follows: A tract of land in the City of South Bend, County of St. Joseph, and State of Indiana, situated in the Northwest ¼ of Section 14, and the Northeast ¼ of Section 15, Township 37 North, Range 2 East, bounded by the following described line: beginning at a point in the West line of Walnut Street, 682.75 feet south of the South line of Sample Street, which point is 31 feet South of the Sanders and Egbert Tract, as conveyed by deed recorded in Deed Record 118, Page 428 and Deed record 121, Page 320; thence on an assumed bearing of South 0°00’49” East along said West line of Walnut Street, 556.95 feet; thence South 89°55’05” West, 1200 feet; thence North 0°00’59” West parallel with said West line of Walnut Street, 589.19 feet to a point 651.75 feet south of the south line of Sample Street or the produced South line of the tract conveyed to F.C. Raff, recorded in Deed Record 172 Page 641; thence South 89°57’10” East along the South line above described tract produced East, 295 feet; thence South 0°00’49” East parallel with the West line of Walnut Street, 31 feet; thence North 89°57’16” East, 905 feet to the place of beginning, containing 15.565 acres, more or less. and which has Key Number 18-8021-0845.04, 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; WHEREAS, a review of the South Bend Redevelopment designation areas finds that the property is located in the Sample-Ewing Business District, which is a Tax Incremental Allocation Area; therefore, the petition for personal property must first be approved by the South Bend Redevelopment Commission. WHEREAS, a review of the South Bend Urban Enterprise Zone finds that the property is located in the Urban Enterprise Zone Area and may qualify for the Enterprise Zone Investment Deduction under I.C. 6-1.1-45 for the same property. 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 Personal 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 Personal property tax deduction for a period of (5) five years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. 13