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REGULAR MEETING DECEMBER 9, 2013 <br /> <br /> <br /> <br />RESOLUTION NO. 4307-13 A RESOLUTION CONFIRMING THE ADOPTION OF <br /> A DECLARATORY RESOLUTION DESIGNATING <br /> CERTAIN AREAS WITHIN THE CITY OF SOUTH <br /> BEND, INDIANA, COMMONLY KNOWN AS 215 <br /> NORTH SYCAMORE STREET AS AN ECONOMIC <br /> REVITALIZATION AREA FOR PURPOSES OF A (8) <br /> EIGHT-YEAR REAL PROPERTY TAX ABATEMENT <br /> FOR EAST BANK SOUTH BEND DEVELOPMENT <br /> LLC <br /> <br /> <br />WHEREAS, a petition for real property tax abatement has been filed with the City Clerk <br />for consideration by the Common Council of the City of South Bend, Indiana, requesting that the <br />area commonly known as 215 N. Sycamore St., South Bend, Indiana, and which is more <br />particularly described as follows: <br /> <br />LOT NUMBER 9 OF EAST BANK TOWNHOMES MINOR SUBDIVISION LOCATED IN <br />THE NORTHWEST 1/4 SECTION 12, TOWNSHIP 37 NORTH, RANGE 2 EAST, CITY OF <br />SOUTH BEND, PORTAGE TOWNSHIP, ST. JOSEPH COUNTY, INDIANA, AND <br />RECORDED AS INSTRUMENT NO 1100776 IN THE OFFICE OF THE RECORDER OF ST. <br />JOSEPH COUNTY, INDIANA <br /> <br />and which has Key Number 71-08-12-127-004.000-026 at this point and time, be designated as <br />an Economic Revitalization Area under the provisions of Indiana Code § 6-1.1-12.1 et seq., and <br />South Bend Municipal Code Sections 2-76 et seq., and; <br /> <br />WHEREAS, the Department of Community Investment has concluded an investigation <br />and prepared a report with information sufficient for the Common Council to determine that the <br />area qualifies as an Economic Revitalization Area under Indiana Code § 6-1.1-12.1, et seq., and <br />South Bend Municipal Code Sections 2-76, et seq., and has further prepared maps and plats <br />showing the boundaries and such other information regarding the area in question as required by <br />law; and <br /> <br />WHEREAS, the Community Investment Committee of the Common Council has <br />reviewed said report and recommended to the Common Council that the area qualifies as an <br />Economic Revitalization Area. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br /> <br />SECTION I. The Common Council hereby determines and finds that the Petition for <br />Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner <br />meet the requirements of Indiana Code § 6-1.1-12.1 et seq., for tax abatement. <br /> <br />SECTION II. The Common Council hereby determines and finds the following: <br /> <br />A. That the description of the proposed redevelopment or rehabilitation meets the <br />applicable standards for such development; <br /> <br />B. That the estimate of the value of the redevelopment or rehabilitation is reasonable <br />for projects of this nature; <br /> <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 <br />result from the proposed described redevelopment or rehabilitation; <br /> <br />D. That the estimate of the annual salaries of those individuals who will be employed <br />or whose employment will be retained by the Petitioner can be reasonably <br />expected to result from the proposed redevelopment or rehabilitation; <br /> <br />21 <br /> <br /> <br />