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06-23-97 Council Meeting Minutes
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06-23-97 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
6/23/1997
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REGULAR MINUTES <br />JUNE 23, 1997 <br />be employed or whose employment will be retained by the <br />Petitioner can reasonably be expected to result from the <br />proposed 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 <br />result 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 <br />result from the proposed described redevelopment or <br />rehabilitation; and <br />F. That the totality of benefits is sufficient to justify <br />the requested deduction, all of which satisfy the <br />requirements of 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 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 hereby determines that the <br />property owner is qualified for and is granted property tax <br />deduction for a period of ten (10) years. <br />SECTION VII. 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 -2.51 said publication providing <br />notice of the public hearing before the Common Council on the <br />proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect <br />from and after its adoption by the Common Council and approval by <br />the Mayor. <br />/s/ Roland Kelly <br />Member of the Common Council <br />A public hearing was held on the resolution at this time. <br />Council Member Broden reported that the Community and Economic <br />Development Committee had met on this bill and recommended it to <br />the Council favorable. Brad Toothaker, 200 LaSalle, made the <br />presentation for the resolution. He asked for support of this <br />project on behalf of downtown growth, job creation and new tax <br />base. Ann Kolata, Redevelopment director, explained that the <br />petitioners propose to build a 60,000 square foot office building <br />which will be four stories at 130 S. Main, at an estimated cost <br />of $6.5 million. She indicated this project is part of the <br />City's redevelopment efforts,for the block and includes an 80,000 <br />square foot building which will be owned by Memorial Health <br />Systems, as well as a 650 space parking garage, which will <br />include 11,000 square feet of retail space fronting on Michigan <br />Street. <br />C <br />CI <br />1 <br />
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