09-12-88 Council Meeting Minutes

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366 ur is�iL•7:: the provisions of South Bend Municipal Code Section 2 -76, et se q., for tax abatement. 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 be expected to result from the proposed described redevelopment or 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 rehabilitations; 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 Statement of Benefits set forth in 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 the deduction granted under Section 6 -1.1- 12.1 -3 of the Indiana Code. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of six (6) years. SECTION VII. The Common Council directs the City Clerk to Cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. 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 RESOLUTION NO. 1641 -88 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3620 WEST MCGILL COURT AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR BANGOR REFRIGERATION CORPORATION. WHEREAS, a petition for personal property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, requesting that the area commonly known as 601 West Broadway Street, South Bend, Indiana and which is more particularly described as follows: A part of the Northeast Quarter of Section 38, Township 38, North, Range 2 East, of the City of South Bend, German Township, St. Joseph County, Indiana, and described as follows: Commencing at the Northeast corner of said Section 38; thence South 89 °48105" West along the North line of said Quarter Section, 1305.00 feet; thence South 00 °00'23" West along the centerline of Kenmore Street, 363.70 feet; thence South 09 °59137" East along said centerline 486.87 feet to the centerline intersection of Kenmore Street and McGill Street; thence South 80 °00123" West along the centerline of McGill Street, 303.50 feet; thence North 89 °59`37" West along aid centerline, 270.66 feet to the point of beginning,thence South 00 °00123" West, 401.41 feet; thence North 89 °59137" West, 523.23 feet to the point of beginning and containing 4.823 acres, more or less, and is subject to all easements, restrictions, and or limitations of record.