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03-23-98 Council Meeting minutes
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03-23-98 Council Meeting minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
3/23/1998
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REGULAR MEETING <br />MARCH 23, 1998 <br />Petitioner can reasonably be expected to result from the proposed <br />described redevelopment or rehabilitation; <br />D. That the estimate of the annual salaries of those <br />individuals who will be employed or whose employment will be <br />retained by the Petitioner can be reasonably expected to result <br />from the proposed redevelopment or rehabilitation; <br />E. That the other benefits about which information was <br />requested are benefits that can be reasonably expected to result <br />from the proposed described redevelopment or rehabilitation; and <br />F. That the totality of benefits is sufficient to justify <br />the requested deduction, all of which satisfy the requirements of <br />Indiana Code 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and finds that <br />the proposed described redevelopment or rehabilitation can be <br />reasonably expected to yield benefits identified in the Statement <br />of Benefits set forth as Sections I through II of the Petition <br />for Real Property Tax Abatement Consideration and that the <br />Statement of Benefits form prescribed by the State Board of <br />Accounts are sufficient to justify the deduction granted under <br />Indiana Code 6 -1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby accepts the report and <br />recommendation of the Human Resources and Economic Development <br />Committee that the area herein described be designated as an <br />Economic Revitalization Area and hereby adopts a Resolution <br />designating this area as an Economic Revitalization Area for <br />purposes of real property tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area <br />shall be limited to two (2) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION VI. The Common Council pursuant to Section 2 -84 of the South Bend Municipal <br />Code finds that three (3) years is a proper designation in fight of the following: <br />1. The enormous risk the petitioner takes associated with <br />this type of development. <br />2. The developer has already committed a large sum to this <br />development and expects to continue to commit large <br />sums to future developments of the same kind. <br />3. There is a demonstrated need for this particular type <br />of development. <br />The Common Council hereby determines that the property owner is qualified for and is granted <br />property tax deduction for a period of three (3) years. <br />SECTION VII. The Common Council further exercises its authority <br />to waive certain compliance requirements of Indiana Code 6 -1.1- <br />12.1-1 et sea., as permitted by Indiana Code 6 -1.1- 12.1- 11.3(c), <br />to the extent necessary to give effect to this Resolution, with <br />such waiver taking place after public hearing. Without limiting <br />the general scope of this waiver, the Common Council hereby <br />approves Form SB -1 Statement of Benefits and specifically waives <br />the Petitioner's failure to submit said Statement of Benefits to <br />the Common Council before initiating the redevelopment project, <br />in accordance with Indiana Code 6 -1.1- 12.1- 11.3(a)(2). The Common <br />Council further finds that each of the additional findings <br />required pursuant to Indiana Code 6 -1.1- 12.1 -2 have been met, and <br />that the property located at Lot #8A Toll Road Industrial Park <br />( 3735 William Richardson Drive) is declared an Economic Revitalization <br />Area. <br />SECTION VIII. The Common Council directs the City Clerk to cause <br />notice of the adoption of this Declaratory Resolution for Real <br />Property Tax Abatement to be published pursuant to Indiana Code <br />5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing <br />
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