9720-06 Amend various sections in Chapter 2, Article 6 - Tax Abatement

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Ordinance No. ~ ~ 20 ~'~~ Substitute Bill No. 79-06 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AMENDING VARIOUS SECTIONS OF CHAPTER 2, ARTICLE 6, OF THE SOUTHBEND MUNICIPAL CODE ADDRESSING TAX ABATEMENT PROCEDURES STATEMENT OF PURPOSE AND INTENT The Common Council of the City of South Bend, Indiana, passed Ordinance No. 9394-03 on February 10, 2003. This comprehensive 48-page ordinance resulted from a series of Community and Economic Development meetings over an extended period of time where members of the public and the City Administration provided input on improving our local tax abatement procedures. " The Common Council believes that tax abatements should continue to be granted in a manner which provides incentives for private sector entities to invest in property and to also execute certain other actions which the Council and the Administration jointly believe would provide public benefits which would be in the best interests of citizens and the City of South Bend, Indiana. The following ordinance incorporates many improvements to the current regulations which are basically of anon-substantive nature. Section I. Chapter 2, Article 6, Division 1, Section 2-76.1 addressing "Definitions And Interpretation" of the South Bend Municipal Code is amended in part to read as follows: Sec. 2-76.1 Definitions ~ Interpretation and Area Maps. (A)(1) "Airport Economic Development Area" and "AEDA" mean the area located within the City's corporate boundaries designated by the South Bend Redevelopment Commission and the Common Council, as amended from time to time, and filed with the City Clerk's Office with notice to the President of the South Bend Common Council and the Chair of the South Bend Common Council's Community And Economic Development Committee. Delete current boundary legal description contained in (A)(1)(a and b). (A)(3) "Central Business District" and "CBD" mean the area located within the City's corporate boundaries designated by the South Bend Redevelopment Commission and the Common Council, as amended from time to time, and filed with the City Clerk's Office with notice to the President of the South Bend Common Council and the Chair of the South Bend Common Council's Community And Economic Development Committee. Delete current boundary legal description at the end of (A)(3).