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RESOLUTION NO. 1897 <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 not be <br />approved when the property is located in an allocation area as defined in I.C. 36- 7- 14 -39, unless the <br />Redevelopment Commission which designated that allocation area adopts a resolution approving that <br />application; and <br />WHEREAS, the South Bend Common Council has received a petition for five years of personal <br />property tax abatement consideration from Ely Chemical Co., LTD. for personal property located at <br />2603 Foundation Drive in the Airport Economic Development Area, the legal description of which is <br />attached hereto, marked Exhibit "A" and incorporated herein; and <br />WHEREAS, this Commission declared the Airport Economic Development Area by Resolution <br />No. 919, adopted February 23, 1990, and in the same resolution declared the Airport Economic Development <br />Allocation Area, Allocation Area No. 1; and <br />WHEREAS, the property located at 2603 Foundation Drive is located within the Airport Economic <br />Development Allocation Area, Allocation Area No. 1. <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as <br />follows: <br />1) The Commission finds that the application from Ely Chemical Co., LTD. for five years of <br />personal property tax abatement consideration for property located at 2603 Foundation Drive in the Airport <br />Economic Development Allocation Area, Allocation Area No. 1, should be and is hereby approved. <br />2) That a copy of this resolution be forwarded to the South Bend Common Council to indicate the <br />Commission's approval of the petition for personal property tax abatement for Ely Chemical Co., LTD. <br />Approved this 19' day of July 2002 at the regularly scheduled meeting of the South Bend <br />Redevelopment Commission. <br />ATTEST: <br />.r'Secretary <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />Lam/ <br />Robert W. Hunt, President <br />