Designating 525 South Taylor Street as an Urban Development Area for Puposes of Tax Abatement Consideration

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RESOLUTION NO. RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS 525 SOUTH TAYLOR STREET AS AN URBAN DEVELOPMENT AREA FOR PURPOSES OF TAX ABATEMENT CONSIDERATION WHEREAS, a petition for real property tax abatement consi- deration has been filed with the Common Council of the City of South Bend pursuant to Section 2076(a) of the Municipal Code requesting that the area commonly known as 525 South Taylor Street and which more particularly described by a line drawn as follows: Lots Numbered Three (3) and Four (4) as shown on the recorded Plat of Touhey and Hagerty's Subdivision of Bank Out Lot Numbered Fifty -nine (59) of the First Plat of Out Lots of the Town, now City of South Bend, platted by the State Bank of Indiana be designated as an Urban Development Area under the provisions of Indiana Code 6 -1.1- 11.1 -1 and that the public utility and benefit of the project be determined; and WHEREAS, the Redevelopment Commission has conducted an investigation pursuant to Section 2 -77 of the Municipal Code and pre- pared a report determining that the area qualifies as an Urban Develop- ment Area under Indiana Code 6 -1.1- 12.1 -1 and has further prepared maps and plats showing the boundaries and such other information has required by law of the area in question; and WHEREAS, the Human Resources and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Urban Development Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. That the Common Council hereby accepts the report and recommendation of the Human Resources and Economic De- velopment Committee that the area herein described be designated an Urban Development Area and hereby adopts a resolution designating this area as an Urban Development Area for purposes of real property Tax Abatement. SECTION II. That the Common Council requests the City Clerk to submit this Resolution along with supporting data to the Area Plan Commission for its written order approving or disapproving this resolution.