06-22-15 Common Council Meeting Minutes

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REGULAR MEETING JUNE 22, 2015 15 -50 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 106 -110 NORTH MAIN ST., SOUTH BEND, IN 46601 AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR HISTORIC JMS BUILDING, LLC RESOLUTION NO. A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 106 -110 North Main St., South Bend, IN 46601 AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (10) TEN YEAR REAL PROPERTY TAX ABATEMENT FOR Historic JMS Building, LLC WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 106 -110 North Main St., South Bend, IN 46601 and which is more particularly described as follows: Key Number 018 - 1008 -0330 — Lot 21 Ex 5' N End & Ex 26' E Side Original Plat 99 -010 Split to 033003 Trans 9773 10 -7 -98 Key Number 018 - 1008 - 033003 — 20.33' X 70' Nw Cor Lot 20 Original Plat 99 -00 Split Fr 0330 Per 9773 10 -7 -8 Key Number 018 - 1008 -0331 - LOT 20 8X40 FT S SIDE OF 40 FT X 18 FT NE COR & MID PT N END LOTS 19 &20 62 1/2 FT ON WASH ST X 1112-3 FT DEEP O P SO BEND be designated as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. 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 from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted a real property tax deduction for a period of (10) ten years as shown by the 37