12-10-12 Common Council Meeting Minutes

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REGULAR MEETING DECEMBER 10, 2012 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; D. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement Consideration and the Memorandum of Agreement between the Petitioner and the City of South Bend, and that the Statement of Benefits form completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1-3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Community and Economic Development Committee that the area herein described be designated as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of up to five (5) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s/Derek Dieter Member of the Common Council Councilmember Gavin Ferlic, Vice-Chairperson, Community & Economic Development Committee, reported that this committee held a Public Hearing on this bill this afternoon and voted to send it to the full Council with a favorable recommendation. Andrew Nemeth, 211 W. Washington Street, Suite 2114, South Bend, Indiana, made the presentation for this bill. Mr. Nemeth advised that East Bank Learning Center, LLC is a high quality child care facility supporting working families downtown and around Notre Dame. By expanding their capacity they will serve more families and also be able to offer infant care. He stated that they are purchasing an ex-Madison Center building located on 3.09 acres. The cost of the renovations to the building will be $1,250,000. Mr. Nemeth advised that total taxes to be abated for the three (3) year period are estimated at $23,395, taxes for the three (3) years on the new project would be $111,725. He advised that net tax paid for three (3) years will be $299,362. He stated per the petition, it is estimated that the project will create ten (10) new, permanent full-time positions and five (5) part-time positions with an annual payroll of $266,800. The project will maintain 11