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05-14-12 Council Agenda & Packet
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05-14-12 Council Agenda & Packet
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and <br /> WHEREAS, the Council held a public hearing for the purposes of hearing all <br /> remonstrances and objections from interested persons; and <br /> WHEREAS, the Council has determined that the qualifications for an economic <br /> revitalization area have been met. <br /> NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br /> South Bend, Indiana, as follows: <br /> SECTION 1. The Common Council hereby confirms its Declaratory Resolution <br /> designating the area described herein as an Economic Revitalization Area for the <br /> purposes of tax abatement. Such designation is for Personal property tax abatement only <br /> and is limited to two (2) calendar years from the date of adoption of the Declaratory <br /> Resolution by the Common Council. <br /> SECTION II. The Common Council hereby determines that the property owner is <br /> qualified for and is granted Personal property tax deduction for a period of five (5) years, <br /> and further determines that the petition complies with Chapter 2, Article 6, of the <br /> Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq.; provided <br /> however, the Petitioner may not receive an economic revitalization area deduction if it <br /> receives an enterprise zone investment deduction under I.C. 6-1.1-45 for the same <br /> property. <br /> SECTION 111. 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 /> Member of the Common Coun�, <br /> of 'ieu <br /> Counmrdl Woni Co veS <br /> FA PR '. 7 �t�`i� <br /> CrN j.1.J1 t.i 1 4J 4•' is! p <br />
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