09-09-96 Council Meeting Minutes

Home Browse Search

REGULAR MEETING SEPTEMBER 9. 1996 90 degrees 00 minutes 00 seconds west 2542.71 feet to the southeast corner of the southwest quarter of said section; thence south 89 degrees 00 minutes 47 seconds east 528.56 feet; thence south 89 degrees 59 minutes 13 seconds east 40 feet to the point of beginning of this description; thence north 0 degrees 00 minutes 47 seconds east 375.00 feet; thence south 89 degrees 59 minutes 13, seconds east 450.00 feet; thence south 0 degrees 00 minutes 47 seconds west 375.00 feet; thence north 89 degrees 59 minutes 13 seconds west 450.00 feet to the point of beginning and containing 3.874 acres, more or less. The bearing of the South line of the southeast quarter of section 28 is assumed north 90 degrees 00 minutes 00 seconds west. and which has Key Number 25 1010 040015 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. 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; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be