10-28-96 Council Meeting Minutes

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REGULAR MEETING OCTOBER 28. 1996 A parcel of land being a part of the Northeast Quarter of the Northeast Quarter of Section 26, Township 37 north Range 2 East, Centre Township, St. Joseph County, Indiana, and being more particularly described as follows: Beginning at a point on the East line of said Northeast Quarter of Said Section 26, that is 40.00 feet South 010 57'08" West of the northeast corner of said Quarter Section; thence south 010 57'08" west, along said east line, a distance of 1273.73 feet to the southeast corner of the northeast quarter of said northeast quarter; thence north 89059'38" west, along the south line of said quarter section, a distance of 889.51 feet; thence north 02023127" east, a distance of 898.0 feet; thence north 01004'58" east, a distance of 375.32 feet to a point on the south right -of- way line of Chippewa Avenue; thence south 90000100 east, parallel with the north line of said northeast quarter and along said south right -of -way line, a distance of 888.34 feet to the place of beginning containing 25.88 acres more or less. and which has Key Number 23 1013 0753 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