10-23-95 Council Meeting Minutes

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1, said publication providing notice of the public hearing before the Common Council on said declaration. SECTION VII. This resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. RESOLUTION NO. 2293 -95 /s/ Eugene Ladewski Member of the Common Council A RESOLUTION OF THE COMMON COUNCIL OF BEND, DESIGNATING CERTAIN AREAS WITHIN BEND COMMONLY KNOWN AS 1545 SOUTH O INDIANA, AN ECONOMIC REVITALIZATION AREA TEN YEAR REAL PROPERTY TAX ABATEMENT CORPORATION, MOLDING PRODUCTS DIVISION THE CITY OF SOUTH THE CITY OF SOUTH DIVE, SOUTH BEND, FOR PURPOSES OF A FOR INTERPLASTIC WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area commonly known as 1545 Olive, South Bend, Indiana, and which is more particularly described as follows: A part of the Southeast Quarter of the Northwest Quarter and a part of the Northeast Quarter of the Southwest Quarter all in Section 15, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana more particularly described as follows: Commencing at the center of said Section 15, thence South along the North -South centerline of said Section 15, 85.69 feet; thence South 89 52'00" West, 30.00 feet to the West line of Olive Street, said point being the true place of beginning; thence continuing Sotuh 89 52'00" West, 370.00 feet; thence north 00 00'00" East, 77.56 feet to a point which is 25 feet Southeasterly, by radial measurement from the centerline of the New Jersey, Indiana & Illinois Railroad Company's "Studebaker Spur" and known also as ICC Tract No. 77; thence Northeasterly on a curve to the left having a radius of 844.02 feet and parallel to and 25 feet Southeasterly by radial measurement from the centerline of said track, through a central angle of 17 2110011, a chord distance of 254.61 feet which bears North 64 20'57" East, an arc distance of 255.58 feet to the point of said curve; thence North 55 45148" East, parallel and 25 feet South of the centerline of said ICC Track No. 77,42.66 feet; thence North 89 52'00" East, 105.64 feet to a point on the West line of Olive Street; thence South 00 00100" West along said West line 210.00 feet to the place of beginning. and which has Key Number 18 8075 285101 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 reasonably expected to yield benefits identified in the Statement of Benefits set forth as Sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify