No. 0727 approving an application for real property tax deduction (Teachers Credit Union, corner of Washington and Main Sts.)

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RESOLUTION NO. 727 A RESOLUTION APPROVING AN APPLICATION FOR REAL 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 real property tax abatement consideration from Teachers Credit Union for real property tax abatement consideration for the property located at southeast corner of Washington and Main Streets in the Downtown Urban Renewal Area R -66, the legal description which is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Downtown Urban Renewal Area R -66 by Resolution No. 215, adopted April 4, 1968, and to declared Central Downtown Urban Renewal Allocation Area No. 1 by Resolution No. 615 adopted June 6, 1980; and WHEREAS, the Commission expanded and redeclared the Central Downtown Urban Renewal Area by Resolution No. 690, adopted October 14, 1983, and therein declared Amended Allocation Area No. 1; and WHEREAS, property located at the southeast corner of Washington and Main Streets is located within the Central Downtown Urban Renewal Amended Allocation Area No. 1. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1.) The Commission finds that the application of Teachers Credit Union for real property tax abatement consideration for real property tax abatement on property located at the southeast corner of Washington and Main Streets in the Central Downtown Urban Renewal Expanded Allocation Area No. 1 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 Teachers Credit Union petition for real property tax abatement. Approved this 21st day of January, 1985, at the regularly scheduled meeting of the South Bend Redevelopment Commission. SOUTH BEND REDEVELOPMENT COMMISSION mtz , Plvesident ATTEST: