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12-28-92 Council Meeting Minutes
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12-28-92 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
12/28/1992
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NIN <br />REGULAR MEETING <br />DECEMBER 28, 1992 <br />of said Lot; thence S. 00o 30' 02" E. along said west line 198.37 feet (198.0 <br />feet to the north right -of -way line of Stull Street and the southeast corner of <br />said Lot M; thence S. 8090 24' 32" W. along said north right -of -way line, <br />166.20 feet (Record, 165.75 feet) to the Point of Beginning. Containing 0.7758 <br />acres or 32,923 square feet. <br />and which has Key Number 18 8004 0191; 18 <br />8004 0198; 18 -8004 0199; 18 8004 0200, be <br />Area under the provisions of Indiana Code <br />Municipal Code Sections 2 -76 et seq. and; <br />8004 0193; 18 8004 0195; 18 8004 0197; 18 <br />designated as an Economic Revitalization <br />6 -1.1- 12.1 -1 et seq., and South Bend <br />WHEREAS, the Department of Economic Development has concluded an investigation <br />and prepared a report with information sufficient for the Common Council to <br />determine that the area qualifies as an Economic Revitalization Area under Indiana <br />Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Sections 2 -76, et seq., <br />and has further prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br />Whereas, the Human resources and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area <br />qualifies as an Economic Revitalization Area. <br />Now, therefore, be it resolved by the Common Council of the City of South Bend, <br />Indiana, as follows: <br />Section I. The Common Council hereby determines and finds that the petition <br />for Real Property Tax Abatement and the Statement of Benefits form completed by the <br />Petitioner meet the requirements of I.C. 6 -1.1- 12.1 -1 et seq., and qualifies under <br />the provisions of South Bend Municipal Code Section 2 -76 et seq., for tax abatement. <br />Section II. The Common Council hereby determines and finds the following: <br />A. That the description of the proposed redevelopment or rehabilitation meets <br />the applicable standards for such development. <br />B. That the estimate of the value of the redevelopment or rehabilitation is <br />reasonable for projects of this nature; <br />C. That the estimate of the number of individuals who will be employed or whose <br />employment will be retained by the Petitioner can reasonably be expected to result <br />from the proposed described redevelopment of rehabilitation: <br />D. That the estimate of the annual salaries of those individuals who will be <br />employed or whose employment will be retained can be reasonably expected to result <br />from the proposed redevelopment or rehabilitation; <br />E. That the other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed described redevelopment <br />or rehabilitation; and <br />F. That the totality of benefits is sufficient to justify the deduction, all of <br />which satisfy the requirements of I.C. 6 -1.1- 12.1 -3. <br />Section III. The Common Council hereby determines and finds that the proposed <br />described redevelopment or rehabilitation can be reasonably expected to yield <br />benefits identified in the Statement of Benefits set forth as sections I through II <br />of the Petition for Real Property Tax Abatement Consideration and that the Statement <br />of Benefits form prescribed by the State Board of Accounts are sufficient to justify <br />the deduction granted under Section 6 -1.1- 12.1 -3 of the Indiana Code. <br />Section IV. The Common Council hereby accepts the report and recommendation of <br />the Human Resources and Economic Development Committee that the area herein <br />described be designated an Economic Revitalization Area and hereby adopts a <br />resolution designating this area as an Economic Revitalization Area for purposed of <br />real property tax abatement. <br />Section V. The designation as an Economic Revitalization area shall be limited <br />to two (2) calendar years from the date of the adoption of this Resolution by the <br />Common Council. <br />Section VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of three (3) years. <br />Section VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be <br />published, said publication providing notice of the public hearing before the Common <br />Council on the proposed confirming of said declaration. <br />Section VIII. This Resolution shall be in full force and effect from and after <br />its adoption by the Common Council and approval by the Mayor. <br />/s/ Stephen Luecke <br />Member of the Common Council <br />
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