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04-22-02 Council Meeting Minutes
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04-22-02 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
4/22/2002
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REGULAR MEETING APRIL 22, 2002 <br />an Economic Revitalization Area and hereby adopts a Resolution designating this area as an <br />Economic Revitalization Area for purposes of real property tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to five <br />(5) calendar years from the date of the adoption of this Resolution by the Common Council. The <br />Common Council pursuant to section 2 -84 of the South Bend Municipal Code finds the five (5) year <br />designation is appropriate and rational period for this abatement in light of the following: <br />The project far exceeds the minimum requirement of 100,000 sft. for tax abatement <br />eligibility. <br />B. The project has an enormous cost associated with it of over $46 million, including <br />land, building and equipment. <br />C. The project site is located in an area which otherwise would not see normal growth <br />or development, and the project is expected to be a catalyst for future development <br />in the area. <br />D. The project will result in a significant number of new jobs, the total number of <br />which is projected to reach 874 by the time the project is completed. <br />E. The project is supported by and is receiving financial assistance from the Indiana <br />Department of Commerce, the City of South Bend, and the Urban Enterprise <br />Association. <br />- F. The project site falls within all of the designated areas including, the Tax Abatement <br />Impact Area, the Economic Development Target Area, the Sample -Ewing <br />Development Area and the Urban Enterprise Zone. <br />SECTION VI. The Common Council hereby determines that the property owner is qualified <br />for and is granted property tax deduction for a period of ten (10) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption <br />of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana <br />Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the public hearing <br />before the Common Council on the proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from and after its adoption <br />by the Common Council and approval by the Mayor. <br />s/Karen White <br />Member of the Common Council <br />Councilmember King reported that the Community and Economic Development Committee held <br />a Public Hearing on this bill this afternoon and voted unanimously to send it to the full Council with <br />a favorable recommendation. <br />Mr. Lou Julian, Director of Communication Services for TJX Companies, no address given, <br />representing AJ Wright, made the presentation for this Resolution. <br />Mr. Julian noted that he represents AJ Wright stores and distribution centers and requests favorable <br />action. <br />A Public Hearing was held on the Resolution at this time. <br />-19- <br />
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