No. 0850 approving an application for personal property tax deduction (Schafer Gear Works, Inc., 814 S. Main St.)

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.1y. __VP, RESOLUTION NO.850 A RESOLUTION APPROVING AN APPLICATION FOR PERSONAL PROPERTY TAX DEDUCTION WHEREAS, I.C. 6- 1.1- 12.1 -2(j) 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 Schafer Gear Works, Inc. for personal property located at 814 S. Main St. in the Studebaker Corridor Development Area, the legal description of which is attached hereto, marked Exhibit "A" and incorporated herein; and WIiEREAS, this Commission declared the Studebaker Corridor Development Area by Resolution No. 762 adopted January 10, 1986 and in the same resolution declared the Studebaker Corridor Allocation Area (South Bend Allocation Area No. 6); and WHEREAS, the property located at 814 S. Main St. is located within the Studebaker Corridor Allocation Area (South Bend Allocation Area No. 6); NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1.) The Commission finds that the application of Schafer Gear Works, Inc. for five years of personal property tax abatement consideration located at 814 S. Main St. in the Studebaker Corridor Allocation Area (South Bend Allocation Area No. 6) is hereby approved. 2.) That a copy of this resolution be forwarded to the Scuth Bend Common Council to indicate the Commission's approval of the Schafer Gear Works, Inc. petition for personal property tax abatement. Approved this 8th day of July, 1988, at the regularly scheduled meeting of the South Bend Redevelopment Ccmmission. SOUTH BEND REDEVELOPMENT COMMISSION ATTEST: 1 Roman Piasecki, Secretary 2 /h.