01-14-08 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING JANUARY 14, 2008 WHEREAS, a Declaratory Resolution designated the area commonly known as 202 S. Michigan Street, South Bend, Indiana, Floors 1, 2, 4, 5, 9 and 11 to 14, and which is more particularly described as follows: Lot 47 40' W Cor & Vacated Alley W & Adj & W 40 X 54' Lot 48 Ex Sw Cor O P So Bend; Lots 47 & 48 Ex W 40' Original Plat So Bend; and 42.18 Ft E End Lot 58 & 19.05 X 42.36 Ft N E Cor Lot 57 O P South Bend and which has Key Numbers 18-3003-0054; 18-3003-0056; and 18-3003-0044, 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 remonstrance's 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 Real property tax deduction for a period of 9 years, 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. s/Timothy A. Rouse Member of the Common Council Councilmember Dieter, Chairperson, Community and Economic Development Committee, reported that this committee held a Public Hearing to hear the pros and cons on this bill this afternoon and voted to send it to the full Council with a favorable recommendation. Ms. Jamie Ruiz, (a/k/a Jamie Wade) CBRE, as agent for the Hinman Company, 202 S. Michigan, South Bend, Indiana, made the presentation for this bill. Ms. Ruiz stated that this rehabilitation project includes interior office space remodeling and exterior renovation to the Key Tower Building as well as renovation to the adjacent Plaza Courtyard. The office space remodeling includes the build out of 32,962 sq. ft. on the 11th, 12t , 13th, and 14th floors for the new tenant, Bakers & Daniels. It also includes the build out of 3,300 sq. ft. of office space on the 9th floor, necessary to relocate tenant, Stiffel, Nicoulaus & Company, for the Bakers & Daniels move in. The ground floor lobby of the building will be renovated to provide additional and improved entry space. Exterior renovations include installing new "Key Bank" and "Baker & Daniels, LLC" signage near the top of the building, the addition of facade and coloring to the building and installing an awning to the north side of the building. The Plaza Courtyard improvements will include a green space. Ms. Wade further noted that these renovations 5