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05-24-04 Council Meetng Minutes
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05-24-04 Council Meetng Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
5/24/2004
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REGULAR MEETING MAY 24,200 <br />24, 2000 as Document Number 0009388 in the Office of the <br />Recorder of St. Joseph County, Indiana. Subject to all legal <br />highways, easements and restrictions of record <br />and which has Key Number 25- 1018 -0618, be designated as an Economic Revitalization <br />Area under the provisions of Indiana Code 6 -1.1 -12.1 et seq., and South Bend Municipal <br />Code Sections 2 -76 et se ., 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 seq., and South Bend Municipal Code Sections 2 -76, et <br />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 <br />for 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 seq., 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 expected to result <br />from the proposed described redevelopment or 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 reasonably <br />expected to result from the proposed redevelopment or rehabilitation; <br />E. That the other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed described redevelopment or <br />rehabilitation; and <br />F. That the totality of benefits is sufficient to justify the requested deduction, <br />all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and finds that the <br />proposed described redevelopment or rehabilitation can be reasonably expected to yield <br />benefits identified in the Statement of Benefits set forth as Sections I through II of the <br />Petition for Real Property Tax Abatement Consideration and that the Statement of <br />Benefits form prescribed by the State Board of Accounts are sufficient to justify the <br />deduction granted under Indiana Code 6- 1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby accepts the report and <br />recommendation of the Community and Economic Development Committee that the area <br />herein described be designated as an Economic Revitalization Area and hereby adopts a <br />Resolution designating this area as an Economic Revitalization Area for purposes of real <br />property tax abatement. <br />17 <br />
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