03-23-09 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING MARCH 23, 2009 Ms. Bretz advised that she and her husband plan to construct an approximate 3,000 square foot, single-family home as their primary residence. The home will be two stories. It will have three bedrooms and three bathrooms, a front porch, a finished basement and a two-car garage. The project is part of the Notre Dame Avenue Housing Program and as such will follow the design specifications and standards required by that program. The cost of the home will be approximately $450,000. Total taxes to be abated during the five year abatement period are estimated at #2,216. Total taxes to be paid during the five (5) year abatement period are estimated at $24,036. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Varner made a motion to adopt this Resolution. Councilmember Kirsits seconded the motion which carried and the Resolution was adopted by a roll call vote of eight (8) ayes and one (1) nay (Councilmember Henry Davis, Jr.) RESOLUTION NO. 3960-09 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 445 NORTH SHERIDAN STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (5) FIVE-YEAR PERSONAL PROPERTY TAX ABATEMENT FOR TREADSTONE, LLC WHEREAS, a petition for personal 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 445 North Sheridan Street South Bend, Indiana, and which is more particularly described as follows: 371.5 Ft on Linden Ave, Beginning 277 Ft West and 60 Ft North Southeast Corner of Southwest Section 4-37-2E and which has Tax Key Number 18-2193-725701 presently, 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, the Department of Community and Economic Development 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 seq., 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 and Economic Development 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 pursuant to Indiana Code 6-1.1-12.1-4.5 et seq., that: a. The estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; 21