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REGULAR MEETING NOVEMBER 25,2013 <br /> Addition to the Town of River Park,now within and a part of the City of South Bend, St. Joseph <br /> County, Indiana, <br /> together with the vacated alley lying in between said lots. <br /> and which has Key Numbers 018-6135-4692, 018-6135-4694, and 018-6135-4696 at this point <br /> and time, be designated as an Economic Revitalization Area under the provisions of Indiana <br /> Code § 6-1.1-12.1 et sec ., and South Bend Municipal Code Sections 2-76 et seq., and; <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 sec., 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 /> 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 /> NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br /> Bend, Indiana, as follows: <br /> SECTION I. The Common Council hereby determines and finds that the Petition for Real <br /> Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet <br /> the requirements of Indiana Code § 6-1.1-12.1 et seq., for tax abatement. <br /> SECTION II. The Common Council hereby determines and finds the following: <br /> A. That the description of the proposed redevelopment or rehabilitation meets the <br /> applicable standards for such development; <br /> B. That the estimate of the value of the redevelopment or rehabilitation is reasonable <br /> for projects of this nature; <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 /> 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 /> E. That the other benefits about which information was requested are benefits that <br /> can be reasonably expected to result from the proposed described redevelopment <br /> or rehabilitation; and <br /> F. That the totality of benefits is sufficient to justify the requested deduction, all of <br /> which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. <br /> SECTION III. The Common Council hereby determines and finds that the proposed described <br /> redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the <br /> Statement of Benefits as set forth in Sections 1 through 3 of the Petition for Real Property Tax <br /> Abatement Consideration, the Memorandum of Agreement between the Petitioner and the City <br /> of South Bend, and that the Statement of Benefits form completed by the petitioner, said form <br /> being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted <br /> under Indiana Code § 6-1.1-12.1-3. <br /> SECTION IV. The Common Council hereby accepts the report and recommendation of the <br /> Community Investment Committee that the area herein described be designated as an Economic <br /> Revitalization Area and hereby adopts a Resolution designating this area as an Economic <br /> Revitalization Area for purposes of real property tax abatement. <br /> 24 <br />