05-26-15 Common Council Meeting Minutes

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REGULAR MEETING MAY 26, 2015 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (10) TEN -YEAR REAL PROPERTY TAX ABATEMENT FOR Historic JMS Building, LLC WHEREAS, a petition for real property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 106 -110 North Main St., South Bend, IN 46601 and which is more particularly described as: 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 Fry 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 under the provisions of Indiana Code 6 -1.1- 12.1 et seq., and South Bend Municipal Code Sections 2 -76 et seq., and; WHEREAS, petitioner has agreed to and has accepted responsibility to report any changes in the final legal description and to report the final, appropriate Key Number to the Department of Community Investment and to the Office of the City Clerk; and WHEREAS, the Department of Community Investment has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1 -12.1, et seq., and South Bend Municipal Code Sections 2 -76, et seg., 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 Community Investment 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 form completed by the Petitioner meet the requirements of Indiana Code § 6 -1.1 -12.1 et seq., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development; 15