06-12-95 Council Meeting Minutes

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„367 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 that can be reasonably expected to redevelopment or rehabilitation; and information was requested are benefits result from the proposed described 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. CTION III. The Common Council hereby determines and finds that the proposed scribed redevelopment or rehabilitation can be reasonably expected to yield nefits identified in the Statement of Benefits set forth as Sections I through II the Petition for Real Property Tax Abatement Consideration and that the Statement Benefits form prescribed by the State Board of Accounts are sufficient to justify e deduction granted under Indiana Code 6 -1.1- 12.1 -3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. N V. The designation as an Economic Revitalization Area shall be limited to calendar years from the date of the adoption of this Resolution by the Common 1. I. The Common Council hereby determines that the property owner is for and is granted property tax deduction for a period of six (6) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. This Resolution shall be in full force and effect from and after its Common Council and approval by the Mayor. /s/ Eugene Ladewski Member of the Common Council A public hearing was held on the resolution at this time. Council Member Kelly reported that the Community and Economic Development Committee had met on these bills and recommended it to the Council favorable. Dennis Reiner, president of Midwest, made the presentation for the resolution. He indicated Midwest is a precision machine shop they planned to build a new facility in the Studebaker Corridor. He indicated this project will allow them to expand their product base. Council Member Luecke made a motion to adopt this resolution, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of nine ayes. R SOLUTION NO. 2256 -95 A RESOLUTION RECOGNIZING THE NEED FOR A NEW FEDE INCOME TAX CREDIT TO ENCOURAGE THE REHABILITATION HISTORIC BUILDINGS FOR HOMEOWNERS IN THE CITY OF SOUT BEND, INDIANA AND URGING ENACTMENT BY CONGRESS OF THE "HISTORIC HOMEOWNERSHIP ASSISTANCE ACT ". Whereas, the abandonment and destruction of older d historic buildings presents a gro 'ng threat to the public safety and the soc' 1 and fiscal well being of the citizens South Bend, Indiana; and Whereas, more an 235 houses have been caused be demolished due to lack of maintenance investmen in the City of South Bend Indiana during the period from January 1, 1990 and Dece er 31, 1994; and Whereas, there are not present homeowners to rehabilitate olde buildin and threatened neighborhoods as st W Historic Districts; Riverside Drive, R' Local Historic Districts; other eli St. Casimir Parish, Monroe Park Rum landmark buildings in other neig orhood of cient financial incentives to attract n such struggling, distressed, declining, ington and Chapin Park National Register Bend, Edgewater Place, and Lincolnway East neighborhoods such as St. Adalbert Parish, illage, and Howard Park, and at isolated Whereas, a strong base 9,f homeowners is essential to the civic and economic health of this community an its tax base; and Whereas, there has en introduced into the Con ess the "Historic Homeownership Assistance Act" which uld provide homeownership inc tives for the rehabilitation of older buildings i historic districts through a Fede 1 Historic Preservation Tax Credit for homeowne s; and Whereas, TV City of South Bend, Indiana has established Historic Preservation Commission wi the capability of promoting and enabling the rtification of such tax credits or the purpose of historic preservation; and Where s, the "Historic Homeownership Assistance Act” would stimulate the revival of decaying neighborhoods and the preservation of historic buildings and districts in the City of South Bend, Indiana through homeownership.