No. 1801 approving an application for real property tax deduction (Gibbs Wire & Steel Co., Inc.)

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i RESOLUTION NO. 1801 A RESOLUTION APPROVING AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION WHEREAS, I. C. 6- 1.1- 12.1 -2(1) provides that an application for property tax deduction may not be approved when the property is located in an allocation area as defined in I.C. 36- 7- 14 -39, unless the Redevelopment Commission which designated that allocation area adopts a resolution approving that application; and WHEREAS, the South Bend Common Council has received a petition for ten years of real property tax abatement consideration from Gibbs Wire & Steel Company, Inc. for real property located at 3751 Olive Road in the Airport Economic Development Area, the legal description of which is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Airport Economic Development Area by Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport Economic Development Allocation Area, Allocation Area No. 1; and WHEREAS, the property located at 3751 Olive Road is located within the Airport Economic Development Allocation Area, Allocation Area No. 1. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1) The Commission finds that the application from Gibbs Wire & Steel Company, Inc. for ten years of real property tax abatement consideration for property located at 3751 Olive Road in the Airport Economic Development Allocation Area, Allocation Area No. 1, should be and is hereby approved. 2) That a copy of this resolution be forwarded to the South Bend Common Council to indicate the Commission's approval of the petition for real property tax abatement for Gibbs Wire & Steel Company, Inc. Approved this 20' day of October 2000 at the regular meeting of the South Bend Redevelopment Commission. SOUTH BEND REDEVELOPMENTCOMMISSION Robert W. Hunt, President ATTEST: Mareia Jones; Vice President dp:Res1801