02-09-98 Council Meeting Minutes

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REGULAR MEETING FEBRUARY 9, 1998 effect from and after its adoption by the Common Council and approval by the Mayor. /s/ 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 recommends it to the Council favorable. Jack St. Pierre, owner of Photocrome and Gene's Camera Shop, made the presentation for the resolution. He advised they were asking for a tax abatement of $265,000 for new equipment which will allow us to be competitive in the field. Council Member Pfeifer made a motion to adopt this resolution, seconded by Council Member Aranowski. The resolution was adopted by a roll call vote of eight ayes. RESOLUTION NO. 2555 -98 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 122 SOUTH MICHIGAN STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX (6) YEAR REAL PROPERTY TAX ABATEMENT FOR THE SOUTH BEND REDEVELOPMENT COMMISSION FOR THE BENEFIT OF: SBCC DEVELOPMENT CORPORATION 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 122 S. Michigan, South Bend, Indiana, and which is more particularly described as follows: 261/2 Ft. N. Side Lot 43 O.P. South Bend and which has Key Number 18 3001 0013.01 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6- 1.1- 12.1 -1 et. seq. and South Bend Municipal Code Sections 2 -76 Et Seq. 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., and qualifies under the relevant provisions of South Bend Municipal Code Sections 2 -76 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. 1 �1 1