05-09-88 Council Meeting Minutes

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REGULAR MEETING MAY 9, 1988 NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. That the Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for real property tax abatement only and is limited to two (2) calendar years for the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. That the Common Council hereby determines that the property owner is qualified for and is granted real property tax deduction for a period of ten (10) years. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s /John Voorde Member of the Common Council A public hearing was held on the resolution at this time. Jon Hunt, Director Economic Development, indicated that Can - American Realty Corp., of Minneapolis, developers of the proposed 204 -unit apartment complex, have made the decision to proceed with financing arrangements for the project. He also stated that if Can - American can meet a mid -July deadline for completing its financial arrangements, construction on the apartments could begin in September. Joe Guentert, 3510 Corby Blvd., spoke opposed to the resolution. He indicated that the project could be built without tax abatement if South Bend taxes were not as high as other areas. Jim Cronk, 702 E. LaSalle, spoke opposed to the bill. He indicated that the land in question should be used for office buildings. 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 9 ayes. RESOLUTION NO. 1605 -88 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 2302, 2304, 2306 WESTERN AV. AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. WHEREAS, a petition for real property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 2302 Western Av., 2304 Western Av., and 2306 Western Av., South Bend, IN 46619, and which is more particularly described as follows: Lots Numbered Three Hundred Sixty -five (365), Three Hundred Sixty -six (366) and Three Hundred Sixty -seven (367) in Summit Place Second Addition to the City of South Bend, in St. Joseph County, Indiana. 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 Section 2 -76: WHEREAS, The Department of Economic Development has concluded an investigation 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 of I.C. 6- 1.1- 12.1 -1 et seq., and South Bend Municipal Code Section 2 -76. SECTION II. The Common Council hereby determines and finds the following: A. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; B. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably by expected to result form the proposed described redevelopment of rehabilitation; C. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed redevelopment or rehabilitation; D. 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 E. That the totality of benefits is sufficient to justify the deduction. all of which satisfy the requirements of I.C. 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 the benefits identified in the State of Benefits set forth as Sections I through IV of the Petition for Real Pronertv Tax Abatement CnnciAaratinn_ anti that tha nmmnlataA