No. 0789 approving an application for personal property tax deduction (Mastic Division of Kousan, Inc., 1507 S. Olive)

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. —.. RESOLUTION NO. 789 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 Mastic Division of Kousan, Inc. for personal property located at 1507 S. Olive in the Rum Village Industrial Park, the legal description of which is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Rum Village Industrial Park by Resolution No. 650 adopted December 8, 1981 and in the same resolution declared the Rum Village Industrial Park (South Bend Allocation Area No. 4); and WHEREAS, the property located at 1507 S. Olive is located within the Rum Village Industrial Park (South Bend Allocation Area No. 4); NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1.) The Commission finds that the application of Mastic Division of Kousan, Inc. for five years of personal property tax abatement consideration at 1507 S. Olive in the Rum Village Industrial Park (South Bend Allocation Area No. 4) 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 Mastic Division of Kousan, Inc.'s peition for personal property tax abatement. Approved this 10th day of October 1986, at the regularly scheduled meeting of the South Bend Redevelopment Commission. ATTEST: c Roman Pzasec i, Secretary 2/d SOUTH BEND REDEVELOPMENT COMMISSION �- N �. F. Jay Nimtz, President