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REGULAR MEETING <br />RESOLUTION NO. 3711-07 <br />FEBRUARY 26, 2007 <br />A RESOLUTION CONFIRMING THE <br />ADOPTION OF A DECLARATORY <br />RESOLUTION DESIGNATING CERTAIN <br />AREAS WITHIN THE CITY OF SOUTH <br />BEND, INDIANA, COMMONLY <br />KNOWN AS VACANT LAND <br />IMMEDIATELY WEST OF <br />BRUNO'S PIZZA ON THE SOUTH <br />SIDE OF PRAIRIE AVENUE <br />WEST OF LOCUST ROAD AND <br />EAST OF THE BYPASS AS AN <br />ECONOMIC REVITALIZATION <br />AREA FOR PURPOSES OF A (10) <br />TEN-YEAR REAL PROPERTY <br />TAX ABATEMENT FOR PRAIRIE <br />APARTMENTS HOUSING <br />PARTNERS, LP <br />WHEREAS, the Common Council of the City of South Bend, Indiana, has <br />adopted a Declaratory Resolution designating certain areas within the City as Economic <br />Revitalization Areas for the purpose of tax abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly known as <br />vacant land immediately west of Bruno's Pizza, west of Locust Road and east of the <br />Bypass, South Bend, Indiana, and which is more particularly described as follows: <br />apart of the east half of the northwest quarter of Section 22, T.37 N., R. 2 <br />E., Portage Township <br />and which has Key Number 18-8153-5514, as an Economic Revitalization Area, and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public <br />hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; <br />and <br />WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrance's and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />SECTION L The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as an Economic Revitalization Area for the <br />purposes of tax abatement. Such designation is for Real property tax abatement only and <br />is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br />SECTION IL The Common Council hereby determines that the property owner is <br />qualified for and is granted Real property tax deduction for a period of (10) ten years, and <br />further determines that the petition, the Memorandum of Agreement between the <br />Petitioner and the City of South Bend, and the Statement of Benefits comply with <br />Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code <br />6-1.1-12 et seq. <br />SECTION III. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approved by the Mayor. <br />11 <br />