No. 1415 approving an application for personal property tax deduction (Masterbilt, Inc., 325 S. Walnut St.)

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RESOLUTION NO. 1415 A RESOLUTION APPROVING AN APPLICATION FOR PERSONAL PROPERTY TAX DEDUCTION WHEREAS, I. C. 6- 1.1- 12.1 -2(1) provides that an application for property tax deduction may not be approved when the property is located in an allocation area as defined in I.C. 36- 7- 14 -39, unless the Redevelopment Commission which designated that allocation area adopts a resolution approving that application; and WHEREAS, the South Bend Common Council has received a petition for five years of personal property tax abatement consideration from Masterbilt, Inc., for personal property located at 325 South Walnut Street in the West Washington - Chapin Development Area, the legal description of which is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the West Washington - Chapin Development Area by Resolution No. 818, adopted October 23, 1987, and in the same resolution declared the West Washington - Chapin Allocation Area (South Bend Allocation Area No. 7) and WHEREAS, the property located at 325 South Walnut Street is located within the West Washington - Chapin Allocation Area (South Bend Allocation Area No. 7); NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1) The Commission finds that the application from Masterbilt, Inc. for five years of personal property tax abatement consideration for property located at 325 South Walnut Street in the West Washington - Chapin Allocation Area (South Bend Allocation Area No. 7) should be and is hereby approved. 2) That a copy of this resolution be forwarded to the South Bend Common Council to indicate the Commission's approval of the petition for personal property tax abatement for Masterbilt, Inc. Approved this 2nd day of February, 1996, at the regularly scheduled meeting of the South Bend Redevelopment Commission. SOUTH BEND REDEVELOPMENT COMMISSION Paula N. Auburn, President ATTEST: William P. Hojn c , Secretary ML:res1415