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RESOLUTION NO. 1763 <br />A RESOLUTION APPROVING AN APPLICATION FOR <br />REAL 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 ten years of real <br />property tax abatement consideration from JVE Investment, LLC (The Tire Rack, Inc.) for real <br />property located at 3851 Olive Road in the Airport Economic Development Area, the legal <br />description 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 3 851 Olive Road 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 <br />as follows: <br />1) The Commission finds that the application from JVE Investment, LLC (The Tire Rack, <br />Inc.) for ten years of real property tax abatement consideration for property located at 3851 Olive <br />Road in the Airport Economic Development Allocation Area, Allocation Area No. 1, should be and <br />is hereby 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 real property tax abatement for JVE <br />Investment, LLC (The Tire Rack, Inc.). <br />Approved this 2nd day of June 2000 at the regular meeting of the South Bend <br />Redevelopment Commission. <br />SOUTH BEND REDEVELOPMENTCOMMISSION <br />Robert W. Hunt, President <br />ATTEST: <br />C� <br />Marcia I Jones, Vice President <br />vb:Resl763 <br />