Designating Tax Abatement - Vacant Land Airport

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RESOLUTION NO. ~ ~ ~~ -~ 7 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 Vacant Land in the Airport Economic Development area AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN SEVEN-YEAR REAL PROPERTY TAX ABATEMENT FOR Olive Cleveland Partners LLC WHEREAS, a petition for real property tax abatement 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 vacant land in the Airport Economic Development area, South Bend, Indiana, and which is more particularly described as follows: Kidders Olive Road Minor Subdivision Lot 2 and which has Key Number 25-1011-018601 at this point and time, be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6-1.1-12.1 et sew., and South Bend Municipal Code Sections 2-76 et sec ., 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 sec ., and South Bend Municipal Code Sections 2-76, et sec ., 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 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.