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RESOLUTION NO. 1457 <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 <br />deduction may not be approved when the property is located in an allocation area as defined in <br />I.C. 36- 7- 14 -39, unless the Redevelopment Commission which designated that allocation area <br />adopts a resolution 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 Nimet Industries, Inc. for personal <br />property located at 2424 North Foundation Drive in the Airport Economic Development <br />Area, the legal description of which is attached hereto, marked Exhibit "A" and incorporated <br />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 <br />Airport Economic Development Allocation Area, Allocation Area No. 1; and <br />WHEREAS, the property located at 2424 North Foundation Drive is located within <br />the Airport Economic 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 Nimet Industries, Inc. for five <br />years of personal property tax abatement consideration for property located at 2424 North <br />Foundation Drive in the Airport Economic Development Allocation Area, Allocation Area <br />No. 1, should be and is hereby approved. <br />2) That a copy of this resolution be forwarded to the South Bend Common Council <br />to indicate the Commission's approval of the petition for personal property tax abatement for <br />Nimet Industries, Inc. <br />Approved this 6th day of September 1996, at the regularly scheduled meeting of the <br />South Bend Redevelopment Commission. <br />ATTEST: <br />William P. Hoj ecretary <br />vb:resl457 <br />SOU H BEND REDEVELOPMENT COMMISSION <br />7, N <br />Paula N. Auburn, President <br />L\, <br />