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REGULAR MEETING AUGUST 13, 2007 <br />OF THE CITY OF SOUTH BEND, <br />DESIGNATING CERTAIN AREAS WITHIN THE <br />CITY OF SOUTH BEND, INDIANA, <br />COMMONLY KNOWN AS 5855 CARBONMILL <br />DRIVE AN ECONOMIC REVITALIZATION <br />AREA FOR PURPOSES OF A SIX (6) YEAR <br />REAL PROPERTY TAX ABATEMENT FOR <br />GWSB PROPERTIES, LLC <br />WHEREAS, a petition for real property tax abatement has been filed with the City <br />Clerk for consideration by the Common Council of the City of South Bend, Indiana, <br />requesting that the area commonly known as 5855 Carbonmill Drive, South Bend, <br />Indiana, and which is more particularly described as follows: <br />Lot Numbered One (1) as shown on the recorded Plat of U. S. 31 Industrial <br />Park, Phase II, recorded October 9, 2001 as Document Number 0150153 <br />in the Office of the Recorder of St. Joseph County, Indiana. <br />and which has Key Number 25-1009-015210, be designated as an Economic <br />Revitalization Area under the provisions of Indiana Code § 6-1.1-12.1 et sec ., and South <br />Bend Municipal Code Sections 2-76 et sec ., and; <br />WHEREAS, the Department of Community and Economic Development has <br />concluded an investigation and prepared a report with information sufficient for the <br />Common Council to determine that the area qualifies as an Economic Revitalization Area <br />under Indiana Code § 6-1.1-12.1, et sec ., and South Bend Municipal Code Sections 2-76, <br />et sec ., and has further prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br />WHEREAS, the Community and Economic Development Committee of the <br />Common Council has reviewed said report and recommended to the Common Council <br />that the area qualifies as an Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the Petition for <br />Real Property Tax Abatement and the Statement of Benefits form completed by the <br />Petitioner meet the requirements of Indiana Code § 6-1.1-12.1 et sec ., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds the following: <br />A. That the description of the proposed redevelopment or rehabilitation meets <br />the applicable standards for such development; <br />B. That the estimate of the value of the redevelopment or rehabilitation is <br />reasonable for projects of this nature; <br />C. That the estimate of the number of individuals who will be employed or <br />whose employment will be retained by the Petitioner can reasonably be <br />expected to result from the proposed described redevelopment or <br />rehabilitation; <br />D. That the estimate of the annual salaries of those individuals who will be <br />employed or whose employment will be retained by the Petitioner can be <br />reasonably expected to result from the proposed redevelopment or <br />rehabilitation; <br />14 <br />