03-23-98 Council Meeting minutes

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REGULAR MEETING MARCH 23, 1998 Mai Tran, a representative of Triangle, made the presentation for the resolution. She advised they were requesting this abatement in order to purchase machinery which will enable them to remain competitive. She informed the Council that the estimated cost of the equipment was approximately $80,000. Council Member Hosinski made a motion to adopt this resolution, seconded by Council Member Varner. The resolution was adopted by a roll call vote of eight ayes. RESOLUTION NO. 2584 -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 LOTS #8, 9, 10, 16, 17, 31 AND 32 - SOUTHFIELD SUBDIVISION SECTION 1 AS A RESIDENTIALLY DISTRESSED AREA FOR PURPOSES OF A FIVE (5) YEAR RESIDENTIAL REAL PROPERTY TAX ABATEMENT FOR SC. /L.I. PARTNERSHIP WHEREAS, a Statement of Benefits and a petition for residential real property tax abatement has been submitted to and 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 Lots #8, 9, 10, 16, 17, 31 and 32 - Southfield Subdivision Section 1, South Bend, Indiana, and which is more particularly described as follows: Street Address Stone Court* Stone Court* Stone Court* Stone Trail* Stone Trail* Stone Trail* Stone Trail* (* - street Legal Description Lot #8 Southfield Subdivision section 1 Lot #9 Southfield Subdivision section 1 Lot #10 Southfield Subdivision Section 1 Lot #16 Southfield Subdivision section 1 Lot #17 Southfield Subdivision Section 1 Lot #31 Southfield Subdivision Section 1 Lot #32 Southfield Subdivision section 1 Key Number 23- 1058 -3391 23- 1058 -3392 23- 1058 -3393 23- 1058 -3399 23- 1058 -3400 23- 1058 -3414 23- 1058 -3413 addresses are currently being determined for the above lots) be designated as a Residentially Distressed Area under the provisions of Indiana Code 6 -1.1 -12.1 et sea., and South Bend Municipal Code Sections 2 -76 et sea., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as a Residentially Distressed Area under Indiana Code 6 -1.,1 -12.1, et sea., and South Bend Municipal Code Sections 2 -76, et sea., 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 Community and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as a Residentially Distressed 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 meet the requirements of Indiana Code 6 -1.1 -12.1 et sea., for tax abatement. SECTION II. The Common Council hereby determines and finds that the area meets one of the following conditions as formally established in- Ordinance no. 8845 -97, which was passed on December 8, 1997: A. The area is comprised of parcels that are either unimproved or contain only one (1) or two (2) family 1 1