18-70 Renewing and Extending the term of the South Bend Urban Enterprise Zone (2)

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Filed in Clerk's Office Biu NO. 18-70 NOV 19_2018 RESOLUTION NO. KAREEMAH FOWLER CITY CLERK,SOUTH BEND,IN A RESOLUTION OF THE COMMON COUNCIL OF SOUTH BEND, INDIANA, RENEWING AND EXTENDING THE TERM OF THE SOUTH BEND URBAN ENTERPRISE ZONE WHEREAS, the Common Council of the City of South Bend, Indiana, (the "Common Council") has a continuing interest in the economic and community development of the City of South Bend, Indiana(the "City") and its residents; and WHEREAS, the South Bend Urban Enterprise Zone (the "Enterprise Zone"), which is governed by Indiana Code 5-28-15 (the "Act"), was established on January 1, 2004, all pursuant to the Act, and has been active in enhancing and promoting economic and community development within the Enterprise Zone and the City; and WHEREAS, the current designation term of the Enterprise Zone is scheduled to expire on December 31, 2018; and WHEREAS, Indiana Code 5-28-15-10(f) of the Act authorizes the Common Council to extend the current term of the Enterprise Zone for an additional five(5) years without application to or authorization by the Indiana Economic Development Corporation; and WHEREAS, it is the desire, intent, and in the best interests of the City to extend the current term of the Enterprise Zone to continue for an additional five (5) years until December 31, 2023; and NOW THEREFORE, BE IT HEREBY RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, ST JOSEPH COUNTY, INDIANA, THAT: Section 1. The Enterprise Zone facilitates and promotes economic and community development in the City and for its residents, and the Common Council hereby reaffirms its support of the Enterprise Zone. Section 2. The Common Council hereby renews and extends the current expiration date of the Enterprise Zone from December 31, 2018 until December 31, 2023 pursuant to and in accordance with Indiana Code 5-28-15-10(1) of the Act.