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07-11-88 Council Meeting Minutes
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07-11-88 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
7/11/1988
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Also a lot or parcel of land in the North part of the Northeast Quarter of <br />Section 13, Township 37 North, Range 2 East, now within and a part of the City of <br />South Bend, St. Joseph County, Indiana, bounded by a line running as follows, viz: <br />Beginning at the corner formed by the intersection of the East line of High <br />Street with the present South line of Sample Street in the City of South Bend; <br />thence running East on the South line of said Sample Street 91 feet and 8 inches; <br />thence South on a line parallel with the east line of said High Street, a distance <br />of 127 feet, more or less, to the North line of a public alley (now vacated); thence <br />West along the North line of said public alley (now vacated) 91 feet and 8 inches to <br />the East line of said High Street; thence North along the East line of said High <br />Street, 127 feet, more or less, to the place of beginning, excepting therefrom that <br />part taken for a public alley as described in Dedication Proceedings recorded in <br />Miscellaneous Record 117, pages 29 -31 of the records of St. Joseph County, Indiana. <br />Also excepting therefrom that part taken for the widening of Sample Street as <br />described in a deed dated April 30, 1959, recorded in Deed Record 591, pages 45 -46 <br />of the records of St. Joseph County, Indiana. <br />be designated as an Economic Revitalization Area under the provisions of Indiana <br />Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code section 2 -76 et seq., and; <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 section 2 -76 et seq., and <br />has further prepares 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 for <br />Personal 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 qualify under the <br />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 estimate of the value of the redevelopment or rehabilitation is <br />reasonable for projects of this nature; <br />B. That the estimate of the number of individuals who will be employed or whose <br />employment will be retained can reasonably be expected to result from the proposed <br />described redevelopment or rehabilitation; <br />C. 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 />D. 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 />E. 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 and which can be reasonably <br />expected to result from the installation of the new manufacturing equipment. <br />SECTION III. The Common Council hereby determines and finds that the proposed new <br />manufacturing equipment can be reasonably expected to yield the benefits identified <br />in the Statement of Benefits set forth on the Statement of Benefits form prescribed <br />by the State Board of Accounts and are sufficient to justify the deduction granted <br />under Section 6 -1.1- 12.1 -4.5 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 for purposes of personal <br />property tax abatement and hereby makes such designation. <br />SECTION V. The Common Council determines that such designation is for personal <br />property tax abatement only and shall be limited to two (2) calendar years from the <br />date of the adoption of this Resolution by the 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 five (5) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Personal 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 />
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