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05-29-12 Common Council Meeting Minutes
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05-29-12 Common Council Meeting Minutes
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REGULAR MEETING MAY 29, 2012 <br /> <br /> <br /> FILING DATE OF MAY 15, 2011 AND <br /> ACCEPTANCE OF THE DEDUCTION <br /> APPLICATION OF THE LATE FILING OF <br /> DEDUCTION APPLICATION FOR THE NEW <br /> MANUFACTURING EQUIPMENT LOCATED <br /> IN AN ECONOMIC REVITALIZATION AREA <br /> FILED UNDER RESOLUTION 4000-09 FOR <br /> PRAIRIE APARTMENTS HOUSING PARTNERS <br /> II, L.P. LOCATED AT 2630 PRAIRIE AVENUE <br /> <br />Whereas, The State of Indiana, County of St. Joseph, Adopted by the Common Council <br />of the City of South Bend, Indiana commonly known as 2630 Prairie Avenue, South <br />Bend, Indiana had adopted RESOLUTION 4000-09, pursuant to Indiana Code 6-1.1- <br />12.1to be an economic revitalization area for purposes of ten (10) year real tax abatement <br />for Prairie Apartments Housing Partners II, L.P. <br /> <br />Whereas, Resolution 4000-09 was presented and adopted by the Common Council <br />November 9, 2009. Mr. William Hollingsworth as petitioner representative was in <br />attendance. <br /> <br />Whereas, Mr. Hollingsworth states that the Application for Deduction from Assessed <br />Valuation for a New Apartment Complex in Economic Revitalization area ( Form 322) <br />was prepared and given to a representative of the Department of Community and <br />Economic Development. <br /> <br />Whereas, the Auditor’s Office states that it has never received the required Form 322 <br />from a representative of the Department of Community and Economic Development. <br /> <br />Whereas, the tax bill which was to have been 100% abated results in a tax being due of <br />$184,724.56. <br /> <br />Now, therefore be it resolved by the Common Council of the City of South Bend, Indiana <br />as follows: <br /> <br />SECTION 1. The petitioner has presented testimonial evidence of the following facts in <br />support of this resolution: <br /> <br />A. There has been a change in the personnel in the Department of Community & <br />Economic Development and the required Form 322 cannot be found in the department <br />files. <br /> <br />B. The stated property cannot afford this large tax bill at the present time. <br /> <br />C. Prairie Apartments Housing Partners II, L.P. has met or exceeded all financial goals <br />stated in their original petition for a tax abatement. The initial cost of the project was <br />estimated to be $8,000,000 and the actual cost was $9,850,000. Two new positions have <br />been created and three old positions have been retained as stated in the original petition. <br /> <br />E. The project is an outstanding asset to this community. Phase I and Phase II of the <br />project remain 100% occupied with a waiting list attesting to the quality of the project <br />and the management. <br /> <br />F. Prairie Apartments Phase I won the 2009 Apartment Association of Indiana’s award <br />for Best Affordable Apartment Complex in Indiana. <br /> <br />G. Phase I and Phase II of the project remain in good financial standing with 100% of all <br />creditors and vendors. <br /> <br />H. All other required documentation has been received from Prairie Apartments Housing <br />Partner’s II, L.P. by the required due dates. <br /> <br /> 23 <br /> <br />
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