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Line; thence North to the East-West City of South <br /> Bend Corporation line; thence West along the City <br /> of South Bend Corporation line to the intersection <br /> of the West right of way line, extended, of <br /> Fellows Street; thence South along the West right <br /> of way line of Fellows Street to the South right <br /> of way line of Johnson Road; thence East along the <br /> South right of way line of Johnson Road to the <br /> Point of beginning. <br /> SECTION II . That the above-described real estate is at <br /> least sixty percent (60%) subdivided. <br /> SECTION III . That the boundaries of the City of South <br /> Bend, Indiana, shall be and hereby are declared to be extended so as <br /> to include all of the above-described real estate as a part of the <br /> City of South Bend, Indiana. <br /> SECTION IV. That a tax abatement program shall be and <br /> hereby is established within the above-described area for the three <br /> (3) taxable years following the effective date of this ordinance, <br /> which program shall, through a reduction in assessed value for <br /> purposes of calculating municipal tax liability, abate: <br /> 1 . Seventy-five percent (75%) of a taxpayer' s liability <br /> for municipal purposes in the first year of said tax <br /> abatement program; <br /> 2 . Fifty percent (50%) of a taxpayer' s liability for <br /> municipal purposes in the second year of said tax <br /> abatement program; and <br /> 3 . Twenty-five percent (25%) of a taxpayer' s liability for <br /> municipal purposes in the third year of said tax <br /> abatement program. <br /> Upon passage of this ordinance by the Common Council and approval <br /> by the Mayor, the City Clerk shall transmit a certified copy of this <br /> ordinance to the St. Joseph County Auditor to prepare for <br /> implementation of said tax abatement program. The City Attorney shall <br /> thereafter certify the effective date to the Common Council and St . <br /> Joseph County Auditor so that the Auditor may implement said tax <br /> abatement program. <br /> SECTION V. That the above-described area shall be and <br /> hereby is assigned to the Fifth Councilmanic District of the City of <br /> South Bend, Indiana. <br /> SECTION VI . This Ordinance shall be in full force and <br /> effect from and after its passage by the Common Council, approval by <br /> the Mayor, and proper legal publication. <br /> Member, Sout Bend Common :0,incil <br />