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RESOLUTION NO. 699 <br />A RESOLUTION APPROVING AN APPLICATION <br />FOR REAL PROPERTY TAX DEDUCTION <br />WHEREAS, I.C. 6- 1.1- 12.1 -2(j) provides that an application <br />for property tax deduction may not be approved when the property <br />is located in an allocation area as defined in I.C. 36- 7- 14 -39, <br />unless the Redevelopment Commission which designated that <br />allocation area adopts a resolution approving that application; <br />and <br />WHEREAS, the South Bend Common Council has received a <br />petition for real property tax abatement consideration from 1st <br />Source Bank as Trustee of Land Trust No. 30560 for real property <br />tax abatement consideration for the property located at the <br />Northwest corner of Colfax and Michigan Street of the Downtown <br />Urban Renewal Area R -66, the legal description which is attached <br />hereto, marked Exhibit "A" and incorporated herein; and <br />WHEREAS, this Commission declared the Downtown Urban Renewal <br />IL Area R -66 by Resolution No. 615, adopted June 6, 1980, and <br />declared Central Downtown Urban Renewal Allocation Area No. 1 by <br />Resolution No. 615 adopted June 6, 1980; and <br />WHEREAS, the Commission expanded and redeclared the Central <br />Downtown Urban Renewal Area by Resolution No. 690, adopted <br />October 14, 1983, and therein declared Amended Allocation Area <br />No. 1; and <br />WHEREAS, property located at the Northwest corner of Colfax <br />and Michigan Street is located within the Central Downtown Urban <br />Renewal Amended Allocation Area No. 1. <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend <br />Redevelopment Commission as follows: <br />1.) The Commission finds that the application of 1st Source <br />Bank as Trustee of Land Trust No. 30560 for real property tax <br />abatement consideration for real property tax abatement on <br />property located at the Northwest corner of Colfax and Michigan <br />Street in the Central Downtown Urban Renewal Amended Allocation <br />Area No. 1 is hereby approved. <br />2.) That a copy of this resolution be forwarded to the <br />South Bend Common Council to indicate the Commission approval of <br />lst Source Bank petition for real property tax abatement. <br />Approved this 24th day of February, 1984, at the regularly <br />scheduled meeting of the South Bend Redevelopment commission. <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />ATTEST_ <br />