Waiver Tax Abatement - 5102 Dylan Drive - Huron Partners, L.P.

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WHEREAS, as a result of an employee's departure from Holladay Properties, the Taxpayer (through an inadvertent oversight) did not timely file a Fortn 322 ERA/RE "Application for Deduction from Assessed Valuation of 5tructures in Economic Revitalization Areas" (the "Application Form") on the Huron Building which was to be filed within thirty (30) days after receiving notice of an assessment for the First Tax Year (as contemplated under ItvD. CoDE § 6-1.1-12.1-5); and WHEREAS, this oversight was an unusual occurrence for Holladay Properties, which pays significant annual real property taxes and has made diligent efforts in good faith to make all required Indiana tax filings (including abatement filings) on a timely basis; and WHEREAS, the Taxpayer filed a belated Application Form to claim benefits of the property tax abatement for the First Tax Year(together with its filing of an Application Form to preserve the benefit of property tax abatement for subsequent years) with the St. Joseph County Auditor,which Application Form was denied due to the belated nature of the filing; WHEREAS, the Common Council recognizes that (a)the Taxpayer fulfilled its pledge to build a new light industrial facility in the City of South Bend and thereby to enhance the tax base and support employment in the City; (b) the Taxpayer has requested a waiver of its inadvertent oversight for late filing of the Application Form to claim benefits of the tax abatement for the First Year, which the Common Council has the power and authority to approve under Indiana law, and (c) the Taxpayer would have been entitled to receive the tax abatement benefits for the First Year had no noncompliance event occurred; and W��EREA5, the Indiana General Assembly has expressed the policy of this State by enacting laws that expressly permit tax abatement noncompliance events such as the untimely filing of an Application Form to be waived; and VVHEREAS, the noncompliance event has been corrected, and a public hearing of the Common Council has been held on the subject of this Resolution. NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,A5 FOLLOWS: SECTION 1. The Taxpayer has presented testimonial and documentary evidence supporting the Taxpayer's (a) fulfillment of its obligations detailed in its original Statement of Benefits and its application for tax abatement related to the construction of a 150,000 square light industrial facility in the City of South Bend at 5102 Dylan Drive, South Bend, Indiana (the "Property"), and (b) inadvertent oversight leading to a belated filing of the Form 322 ERA/RE "Application for Deduction from Assessed Valuation of Structures in Economic Revitalization Areas" to claim the benefits of tax abatement for the March 1, 2009 assessment date on the Property. SECTION 2. The foregoing facts, taken together, lead the Common Council to conclude that the Taxpayer has fulfilled its projected plans to construct new improvements contemplated as part of the 2006 Resolution (the "Abatement") and that its belated filing of an application 2