18-43 Modifying and Reconfirming Resolution for JSK Developmemnt (Ireland Hospitality- Holiday Inn Express)

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and which currently designated as an Economic Revitalization Area; and WHEREAS, upon proper notice, a public hearing was held, after which the Common Council issued Confirming Resolution No. 4467-15, confirming the adoption of Declaratory Resolution No. 4462-15 on July 13, 2015; and WHEREAS, the Petitioner was granted a two-year designation period in Confirming Resolution No. 4467-15, which expired on July 13, 2017; however, the project has not been assessed until July 2018; and WHEREAS, the Petitioner has requested additional two years to extend the designation period. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the extension of the designation is appropriate and meets the requirements of Indiana Code § 6-1.1-12.1 et seq. SECTION II. The Common Council hereby reconfirms Declaratory Resolution No. 4462-15 and Confirming Resolution No. 4467-15 designating the area described herein as an Economic Revitalization Area for the purpose of a real property tax abatement. Such designation is limited to four(4) calendar years from the date of adoption of Declaratory Resolution No. 4462-15 by the Common Council. SECTION III. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of six (6) years as shown below and further determines that the petition, the Statement of Benefits and the Memorandum of Agreement between the Petitioner and the City of South Bend comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. Year 1 — 100% Year 2-85% Year 3 —66% Year 4—50% Year 5—34% Year 6— 17% SECTION IV. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. 2