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12-21-87 Council Meeting Minutes
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12-21-87 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
12/21/1987
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225 <br />P1 1. <br />1 � <br />(A) If the proposed redevelopment or rehabilitation does not occur, the <br />approximate current year tax rate for the City would be 15.0781; <br />(B) If the proposed redevelopment or rehabilitation does occur and no deduction <br />is granted, the approximate current year tax rate for the City would be 15.0767. <br />(C) If the proposed redevelopment or rehabilitation occurs, the deduction is <br />granted, and a deduction percentage of fifty percent (50 %) is assumed, the <br />approximate current year tax rate for the City would be 15.0774. <br />SECTION III. That the Common Council hereby determines and finds that the <br />proposed described redevelopment or rehabilitation can be reasonably expected to <br />yield the benefits identified in the statement of benefits set forth as sections 1 <br />through 3 of the Petition for Real Property Tax Abatement Consideration and that the <br />statement of benefits is sufficient to justify the deduction granted under Section <br />6- 1.1- 12.1 -3 of the Indiana Code. <br />SECTION IV. That the Common Council hereby accepts the report and <br />recommendation of the Human Resources and Economic Development Committee that the <br />area herein described be designated an Economic Revitalization Area and hereby <br />adopts a resolution designating this area as an Economic Revitalization Area for <br />purposes of real property tax abatement. <br />SECTION V. That the designation as an Economic Revitalization Area shall be <br />limited to two (2) calendar years from the date of the adoption of this resolution <br />by the Common Council. <br />SECTION VI. That the Common Council hereby determines that the property owner <br />is qualified for and is granted property tax deduction for a period of three years. <br />SECTION VII. 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 /Joseph T. Serge <br />Member of the Common Council <br />RESOLUTION NO. 1571 -87 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY <br />RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF <br />SOUTH BEND COMMONLY KNOWN AS 220 W. COLFAX, TO BE AN <br />ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL <br />PROPERTY TAX ABATEMENT. <br />WHEREAS, the Common Council of the City of South Bend has adopted a Declaratory <br />Resolution designating certain areas within the City as Economic Revitalization <br />Areas for the purpose of tax abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly known as 220 W. <br />Colfax, and which is more particularly described as follows: <br />Parcel I: <br />Lots Numbered One (1), Two (2), Seven (7), Eight (8), and the East one -third <br />(1/3) of Lot Number Four (4) as shown on the recorded plat of J. C. Knoblock's <br />Subdivision of Lots Numbered 245 and 246 in the Original Plat of the Town, now <br />City, of South Bend, Indiana, recorded in Plat Book 8, page 15 in the Office of <br />the Recorder of St. Joseph County, Indiana. <br />EXCEPTING from said Lot Number Two (2) the following: A strip of land bounded <br />by a line described as beginning at the Northwest corner of Lot 2 in <br />Subdivision of Lots 245 and 246 in the original plat of South Bend, Indiana, <br />thence running easterly on the North line of said Lot 2 a distance of 31.65 feet <br />to a point that is 0.50 feet east of the east end of the existing Party Wall; <br />thence south a distance of 1.25 feet; thence westerly parallel with the North <br />line of said Lot 2 to a point on the West line thereof, said point being 1.25 <br />feet south of the point of beginning; thence North on the West line of Lot 2 <br />along the west end of said Party Wall to the place of beginning; said exception <br />being the real estate described in that certain Quit -Claim Deed dated March 21, <br />1986, and recorded as Instrument 8606081 in the Office of Recorder, St. Joseph <br />County, Indiana. <br />as an Economic Revitalization Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public <br />hearing before the Council has been published pursuant to Indiana Code <br />6 -1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrances and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the city of South Bend, <br />Indiana, as follows: <br />
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