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07-22-02 Council Meeting Minutes
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07-22-02 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
7/22/2002
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REGULAR MEETING <br />JULY 22, 2002 <br />showing the boundaries and such other information regarding the area in question as required by law; <br />and <br />WHEREAS, the Community and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area qualifies <br />as an Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the Petition for Real <br />Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the <br />requirements of Indiana Code 6 -1.1 -12.1 et. sea.' 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 <br />expected to result from the proposed described redevelopment or <br />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 <br />reasonably expected to result from the proposed redevelopment or <br />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 <br />redevelopment or rehabilitation; and <br />F. That the totality ofbenefits is sufficient to justify the requested deduction, all <br />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 proposed <br />described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in <br />the Statement of Benefits set forth as Sections I through II of the Petition for Real Property Tax <br />Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of <br />Accounts are sufficient to justify the deduction granted under Indiana Code 6- 1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby accepts the report and recommendation of the <br />Community and Economic Development Committee that the area herein described be designated as <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 two <br />(2) calendar years from the date of the adoption of this Resolution by the Common Council. <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 />ME <br />1 <br />1 <br />
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