01-11-99 Council Meeting Minutes

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REGULAR MINUTES JANUARY 11, 1999 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 set forth as Sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form 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 Human Resources and Economic Development Committee that the area herein described be designated 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. In light of the risks to be taken by the petitioner without guarantees for this Nine Million Dollar project, the Common Council hereby determines that the project meets the standards for a special exception tax abatement consideration under Section 2 -84 of the South Bend Municipal Code. The petitioner accordingly must identify the end use(s) prior to final action on the confirmatory resolution which shall specify the duration of the tax abatement. SECTION VII. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of ten (10) years. SECTION VIII. 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 IX. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Is/ Sean Coleman Member of the Common Council A public hearing was held on the resolution at this time. Council Member Kelly reported that the Community and Economic Development Committee had met on this bill and recommended it to the Council favorable. Kathleen Cekanski - Farrand, Council attorney, the resolution should be amended, as follows; Delete ten (10) years from the title, and add: In light of the risks to be taken by the petitioner without guarantees for this Nine Million Dollar project, the Common Council hereby determines that the project meets the standards for a special exception tax abatement consideration under Section 2 -84 of the South Bend Municipal Code. The petitioner accordingly must identify the end use(s) prior to final action on the confirmatory resolution which shall specify the duration of the tax abatement. Council Member Kelly made a motion to accept the amendment, seconded by Council Member Butler. The motion carried. Kevin Butler, attorney, made the presentation for the resolution. He advised that the petitioner was proposing to build two industrial warehouse