02-11-08 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING FEBRUARY 11, 2008 WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as known the old Target Store Retail Complex located on the north side of McKinley Avenue and west of Hickory Road, South Bend, Indiana, and which is more particularly described as follows: ALL THAT TRACT OR PARCEL OF LAND lying and being in the southeast quarter of Section 5, Township 37 North Range 3 East, in the City of South Bend, St. Joseph County, Indiana, more particularly described as follows: COMMENCING at the southeast corner of said southeast quarter of Section 5; thence North 00°02’06” East along the East line of said southeast quarter, a distance of 726.00 feet to a point; thence run North 89°28’22” West a distance of 40.00 feet to a point; thence run North 89° 28’ 22” West, a distance of 648.65 feet to a point, the POINT OF BEGINNING; thence run South 00°01’12” West, a distance of 686.02 feet to a point; thence run North 89° 28’ 28” West, a distance of 525.01 feet to the east line of McKinley Terrace Addition; thence run North 00°00’00” East, along said east line of said McKinley Terrace Addition a distance of 1411.91 feet to a point and the south line of McKinley Terrace Addition, Section “A”; thence run South 89°31’54” East along said south line of McKinley Terrace Addition, Section “A”, a distance of 443.34 feet to a point; thence run South 00°01’12” West, a distance of 404.56 feet to a point; thence run North 89°28’ 22” West a distance of 9.11 feet to a point; thence run South 00°24‘33” West a distance of 261.23 feet to a point; thence run South 89°28’12” East a distance of 10.89 feet to a point; thence run South 00°01’12” West a distance of 60.53 feet to a point; thence run South 89° 28’ 22” East a distance of 82.17 feet to a point, the POINT OF BEGINNING. Said tract being 15.60 acres more or less. and which has Key Number 18-5201-7736 at this point and time, be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et seq., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code § 6-1.1-12.1, et seq., and South Bend Municipal Code Sections 2-76, et seq., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Community and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of Indiana Code § 6-1.1-12.1 et seq., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development; B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation; 10