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X y <br />RESOLUTION NO. 1854 <br />A RESOLUTION APPROVING AN APPLICATION FOR <br />PERSONAL PROPERTY TAX DEDUCTION <br />WHEREAS, I.C. 6 -1.1- 12.1 -2(l) 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 five years of <br />personal property tax abatement consideration from Schafer Gear Works, Inc. for personal property <br />located at 4701 Nimtz Parkway 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 4701 Nimtz Parkway 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 Schafer Gear Works, Inc. for five years <br />of personal property tax abatement consideration for property located at 4701 Nimtz Parkway in the <br />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 Schafer <br />Gear Works, Inc. <br />Approved this 7th day of December 2001 at the regular meeting of the South Bend <br />Redevelopment Commission. <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />�Z�dv� <br />Robert W. Hunt, President <br />ATTEST: <br />4W�- <br />Philip J. F e a, Secretary <br />