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RESOLUTION NO. 2674 <br />• A RESOLUTION APPROVING AN APPLICATION FOR <br />PERSONAL PROPERTY TAX DEDUCTION <br />WHEREAS, I. C. 6- 1.1- 12.1 -2(1) provides that an application for property tax deduction may <br />not be approved when the property is located in an allocation area as defined in I.C. 36- 7- 14 -39, <br />unless the Redevelopment Commission which designated that allocation area adopts a resolution <br />approving that application; and <br />WHEREAS, the South Bend Common Council has received a petition for (5) five years of <br />personal property tax abatement consideration from Value Production, Inc., for personal property <br />located at 2629 Foundation Drive in the Airport Economic Development Area, the legal description <br />of which is attached hereto, marked Exhibit "A" and incorporated herein; and <br />WHEREAS, this Commission declared the Airport Economic Development Area by <br />Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport <br />Economic Development Allocation Area, Allocation Area No. 1; and <br />WHEREAS, the property located at 2629 Foundation Drive is located within the Airport <br />Economic Development Allocation Area, Allocation Area No. 1. <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission <br />as follows: <br />• 1) The Commission finds that the application from Value Production, Inc., for (5) five years <br />of personal property tax abatement consideration for property located at 2629 Foundation Drive in <br />the Airport Economic Development Allocation Area, Allocation Area No. 1, should be and is hereby <br />approved. <br />2) That a copy of this resolution be forwarded to the South Bend Common Council to <br />indicate the Commission's approval of the petition for personal property tax abatement for Value <br />Production, Inc. <br />Approved this 7th day of May, 2010, at the regularly scheduled meeting of the South Bend <br />Redevelopment Commission. <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />David A. Varner, Vice President <br />ATTES a X�m 1 <br />Nancy N. Kingo Secretary <br />