09-23-96 Council Meeting Minutes

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REGULAR MEETING SEPTEMBER 23, 1996 of the City of South Bend, I diana requesting that the area commonly known as Lot 11 - T 11 Road, South Bend, Indiana, and which is more particularly d scribed as follows: A parcel of land in the nort 38 North, Range 2 East, Germ Indiana, and described as be Park - Section 6, as recorde dated April 7, 1989, at the County, Indiana, and contain is subject to all easements, record. east quarter of Section 21, Township n Township, St. Joseph County, ng Lot 11 of Toll Road Industrial under instrument number 8908570, ffice of the recorder, St. Joseph ng 3.7178 acres, more or less, and restrictions and or covenants of and which has Key Number 25-1013-0211.08 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 concluded an investigation a: sufficient for the Common Co- qualifies as an Economic Rev 6 -1.1- 12.1 -1, et seq., and S, 76, et seq., and has further boundaries and such other in question as required by law; of Economic Development has d prepared a report with information ncil to determine that the area talization Area under Indiana Code uth Bend Municipal Code Sections 2- prepared maps and plats showing the ormation regarding the area in and Whereas, the Human Reso rces and Economic Development Committee of the Common Coun it has reviewed said report and recommended to the Common Co ncil 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 JI. The Common Coun it hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets th applicable standards for such development. B. That the estimate o� the value of the redevelopment or rehabilitation is reaso able for projects of this nature; C: That the estimate o the number of individuals who will be employed or whose em loyment will be retained by the Petitioner can reasonab y be expected to result from the proposed described rede elopment 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 reasonably expected to yield benefits identified in the Statement of Benefits set forth as Sections I through II of the Petition 1 f 1