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of a Declaratory Resolution as Resolution No. 4456-15 on June 22, 2015 <br /> WHEREAS, the petitioner will not have the project completed within the three- <br /> year designation period granted in the Confirming Resolution, which will expire on May <br /> 26, 2018. <br /> WHEREAS, the Petitioner has requested an additional period of time to complete <br /> construction of the planned project. The project experienced unforeseen delays in the <br /> design stage which led to an overall delay in the construction timeline. <br /> NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br /> South Bend, Indiana, as follows: <br /> SECTION I. The Petitioner acknowledges that they will not have the project completed <br /> within the three-year designation period granted in the Confirming Resolution due to the <br /> following: <br /> A. The future use of the former College Football Hall of Fame Building <br /> (CFHOF) was directly tied to the construction and subsequent opening of the <br /> hotel that sits adjacent to building. With the hotel project completion now, the <br /> Developer is better able to target potential uses for the former CFHOF and <br /> looks forward to creating an overall project that will be a tremendous asset for <br /> the City for years to come. <br /> The Common Council hereby finds that the extension of the designation is appropriate in <br /> light of the aforementioned reason noted above. <br /> SECTION 11. The Common Council hereby reconfirms its Declaratory Resolution and <br /> its Confirming Resolution designating the area described herein as an Economic <br /> Revitalization Area for the purposes of tax abatement. Such designation is for real <br /> property tax abatement only and is limited to four (4) calendar years from the date of <br /> adoption of the Declaratory Resolution by the Common Council. <br /> SECTION III. The Common Council hereby determines that the property owner is <br /> qualified for and is granted a vacant building property tax deduction for a period of two <br /> (2) years pursuant to Indiana Code 6-1.1-12.1-17 and further determines that the petition, <br /> The Memorandum of Agreement between the Petitioner and the City of South Bend, and <br /> the Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the <br /> City of South Bend and Indiana Code 6-1.1-12 et seq. <br /> SECTION IV. This Resolution shall be in full force and effect from and after its <br /> adoption by the Common Council and approved by the Mayor. <br /> Tim Scott, Council President <br /> South Bend Common Council <br />