01-11-99 Council Meeting Minutes

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REGULAR MINUTES JANUARY 11 1999 distribution and /or light manufacturing facilities on a speculative basis. He reported that this will be done in two phases, the first will cost $3,000,000, and the second will be $6,000,000. He advised that this petition was for phase one only. Council Member Pfeifer made a motion to adopt this resolution, as amended, seconded by Council Member Kelly. The motion carried. RESOLUTION NO. 2702 -99 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 4335 MEGHAN BEELER DR., N., AN ECONOMIC REVITALIZATION AREA FOR THE PURPOSE OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR JABCO LIMITED LIABILITY COMPANY (BLUDOT, INC.) WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area commonly known as 4335 Meghan Beeler Dr.,N., South Bend, Indiana, and which is more particularly described as follows: Lot 5A as shown in the recorded plat of West Cleveland Road Industrial Park, Section 1, second replat, recorded September 16, 1998, as Document Number 9848694 in the Office of the Recorder of St. Joseph County, Indiana and which has Key Number 25- 1013- 020 -702 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et seq., and South Bend Municipal Code Sections 2 -76 et seq., and; Whereas, the Department of Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Sections 2- 76, et seq., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and Whereas, the Human Resources and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of Indiana Code 6 -1.1- 12.1 -1 et seq., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development. B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation; 1 1 1