06-24-02 Council Meeting Minutes

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REGULAR MEETING JUNE 24, 2002 PROPERTY TAX ABATEMENT FOR THE SOUTH BEND REDEVELOPMENT COMMISSION FOR THE BENEFIT OF: JVH, INC. WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 4833 Ameritech Drive, South Bend, Indiana, and which is more particularly described as follows: US 31 Industrial Park; Section 2, Lot 9 US 31 Industrial Park; Section 2, Lot 10 US 31 Industrial Park; Section 4, 1/2 of Lot 11 and which has Key Numbers 25 -1016- 060012; 25- 1016 - 060013; 25- 1016 - 060016 respectively as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6- 1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council pursuant to Section 2 -84 of the South Bend Municipal Code finds the ten 10 years is the appropriate and rational time period for this tax abatement in light of the following: 1. The petitioner was asked by the City of South Bend to relocate the business to accommodate the TJX Company's new warehouse distribution center. 2. The petitioner will incur additional building costs associated with the new location as a result of the restrictive building covenants of the new area. 3. The new location fits the City of South Bend's development plans for the area and will support the warehouse and distribution services already located within the area. SECTION II. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION III. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of ten 10 years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et. sea. -13-