Transfer of Real Property Tax Abatement for: SBG Realty, LLC to Somaschini Realty, LLC

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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 reconfirms 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. The Common Council hereby confirms that Somaschini Realty, LLC may assume the tax abatement previously granted to SBG Realty, LLC. 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 eight (8) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et se. SECTION III. This Reconfirming Resolution references Confirming Resolution No. 4075 -11. Somaschini Realty, LLC hereby assumes the approved tax abatement granted to SBG Realty, LLC for property located at 3849 Showerlux Drive, South Bend, IN 46628 and with it, all targets associated with the original petition for incentives regarding private investment and j ob creation and retention. SECTION IV. This Resolution shall be in full force and Common Council and approved by the Mayor. SBDS02 RJD 308755v1 A02SENTED --b' $l l ko n,Atovrr r OM to after its adoption by the Council Filed in Clerk's Office AUG 0 5 2016 IAREEMAH FOWLER CITY CLERK, SOUTH BEND, IN 11: 36 AM