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05-27-08 Common Council Minutes
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05-27-08 Common Council Minutes
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REGULAR MEETING MAY 27, 2008 <br /> <br /> <br />Parcel I: LOT 113 & S ½ VAC ALLEY N & ADJ EUCLID PARK <br />ADDN; <br />Parcel II: 18T 114 & S ½ VAC ALLEY N & ADJ EUCLID PARK <br />ADDN; <br />Parcel III: LOT 112 & N ½ ALLEY S & ADJ EUCLID PARK ADDN; <br />Parcel IV: LOT 110 EUCLID PARK ADD LOT 111; and <br />Parcel V: LOT 109 & ½ VAC ALLEY N & ADJ EUCLID PARK <br />and which has Key Numbers 18-6026-0707; 18-6026-0708; 18-6026-0706; 18-6026- <br />0704; and 18-6026-0703, as an Economic Revitalization Area; and <br /> <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public <br />hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; <br />and <br /> <br />WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrances and objections from interested persons; and <br /> <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br /> <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as an Economic Revitalization Area for the <br />purposes of tax abatement. Such designation is for Real property tax abatement only and <br />is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br /> <br />SECTION II. The Common Council hereby determines that the annual amount for <br />which similar buildings in the county were leased or rented or offered for lease or rent <br />during the period the eligible vacant building was unoccupied is approximately in the <br />amount of $70,616. <br /> <br />SECTION III. The Common Council hereby determines that the property owner is <br />two (2) <br />qualified for and is granted Real property tax deduction for a period of years, and <br />further determines that the petition, the Memorandum of Agreement between the <br />Petitioner and the City of South Bend, and the Statement of Benefits comply with <br />Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code <br />6-1.1-12 et seq. <br /> <br /> <br />SECTION IV. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approved by the Mayor. <br /> <br /> s/Timothy A. Rouse <br /> Member of the Common Council <br /> <br />Mr. David Morgan, Force 5 Media, Inc., d/b/a River Rock, Inc. (Real Estate Holding <br />Company), 115 N. William, Suite 300, South Bend, Indiana, made the presentation for <br />this bill. <br /> <br />Mr. Morgan advised that River Rock, Incorporated recently acquired the building located <br />at 1433 Northside Boulevard that was formally owned and occupied by the LaSalle <br />Council of the Boy Scouts of America. Force 5 Media is proposing to occupy it. River <br />Rock is the real estate holding company for Force 5. Force 5 is an advertising and <br />marketing company currently located in leased space in South Bend. Its operations <br /> 15 <br /> <br />
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