Annexng Ironwood North Annexation

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NORTH LINE OF DUNN ROAD TO THE PLACE OF BEGINNING. SECTION II. That the above - described real estate is at least sixty percent (60 %) subdivided. SECTION III. That the population density of the area is in excess of three (3) persons per acre. SECTION IV. That a tax abatement program shall be and hereby is established within the above - described area for the three (3) taxable years following the effective date of this ordinance, which program shall, through a reduction in assessed value for purposes of calculating municipal tax liability, abate: 1. Seventy -five percent (75 %) of a taxpayer's liability for municipal purposes in the first year of said tax abatement program; 2. Fifty percent (500) of a taxpayer's liability for municipal purposes in the second year of said tax abatement program; and 3. Twenty -five percent (25 %) of a taxpayer's liability for municipal purposes in the third year of said tax abatement program. Upon passage of this ordinance by the Common Council and approval by the Mayor, the City Clerk shall transmit a certified copy of this ordinance to the St. Joseph County Auditor to prepare for implementation of said tax abatement program. The City Attorney shall thereafter certify the effective date to the Common Council and St. Joseph County Auditor so that the Auditor may implement said tax abatement program. SECTION V. That the boundaries of the City of South Bend, Indiana, shall be and hereby are declared to be extended so as to include all of the above - described real estate as a part of the City of South Bend, Indiana. SECTION VI. That the above - described area shall be and hereby is assigned to the Fourth Councilmanic District of the City of South Bend, Indiana. SECTION VII. This Ordinance shall be in full force and effect from and after its passage by the Common Council, approval by the Mayor, and proper legal pubblication. Member, South Bend Common touncil 1 =t E;EADtiG U �~ PUBLIC HEARING. 3 rd READING . NOT APPROVED REFERRED PASSED 6 Filed In Clerk's Office AUG 2 1 1996 LORETTA J. DUDA CITY CLERIC, 90. REJIG. IN.