No. 1367 approving an application for real property tax deduction (Midwest Land Company, 5021 Nimtz Pkwy.)

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RESOLUTION NO. 1367 A RESOLUTION APPROVING AN APPLICATION FOR REAL 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 ten years of real property tax abatement consideration from the South Bend Redevelopment Commission for the benefit of Midwest Land Company for real property located at 5021 Nimtz Parkway in the Airport Economic Development Area, the legal description of which is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Airport Economic Development Area by Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport Economic Development Allocation Area, Allocation Area No. 1; and WHEREAS, the property located at 5021 Nimtz Parkway is located within the Airport Economic Development Allocation Area, Allocation Area No. 1. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1) The Commission finds that the application from the South Bend Redevelopment Commission for the benefit of Midwest Land Company for ten years of real property tax abatement consideration for property located at 5021 Nimtz Parkway in the Airport Economic Development Allocation Area, Allocation Area No. 1, 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 real property tax abatement for the South Bend Redevelopment Commission for the benefit of Midwest Land Company. Approved this 21st day of July 1995, at the regularly scheduled meeting of the South Bend Redevelopment Commission. SOUTH BEND REDEVELOPMENT COMMISSION Philip J. Facce , Pre 'dent ATTEST• Robert W. Hunt, Secretary ML:Res1367