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Ordinance No. F095-g0 <br /> AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br /> INDIANA, AMENDING PROVISIONS WITHIN CHAPTER 2, ARTICLE 6, <br /> COMMONLY REFERRED TO AS TAX ABATEMENT PROCEDURES. <br /> STATEMENT OF PURPOSE AND INTENT <br /> On February 12, 1990, the South Bend Common Council passed <br /> Ordinance No. 8065-90 which revised the local tax abatement <br /> procedures. <br /> That ordinance incorporated the results of months of study <br /> and discussion by the Human Resources and Economic Development <br /> Committee into a 24-page law. <br /> The following bill incorporates three (3) amendments,the <br /> first two (2) would clarify the specific procedures previously <br /> passed, and the last one incorporates a new provision of state <br /> law. <br /> It's believed that this bill is in the best interest of <br /> the City of South Bend, Indiana. <br /> NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF <br /> THE CITY OF SOUTH BEND, INDIANA, as follows: <br /> SECTION I. Chapter 2, Article 6, Section 2-76.1 (a) (15) of <br /> the Municipal Code of the City of South Bend, Indiana, as <br /> hereby amended to read as follows: <br /> (15) "New manufacturing equipment" shall mean <br /> tangible personal property which was: <br /> (I) installed during the period beginning January 1, <br /> 1982, and ending February 28, 1983, in an urban <br /> development area declared before March 1, 1983 ; or <br /> installed during the period beginning March 1, 1983, <br /> and ending December 31, 1991; 1993 , in an area that <br /> is declared an economic revitalization area after <br /> February 28, 1983, in which a deduction for tangible <br /> personal property is allowed; <br /> (II) is used in the direct production, manufacture, <br /> fabrication, assembly, extraction, mining, <br /> processing, refining, or finishing of other tangible <br /> personal property; and <br /> (III) was acquired by its owner for use as described <br /> in subdivision II and was never before used by its <br /> owner for any purpose in Indiana. <br /> SECTION II. Chapter 2, Article 6, Section 2-77 (d) of the <br /> Municipal Code of the City of South Bend, Indiana, is hereby <br /> amended to read as follows: <br /> Sec. 2-77 Multi-Family Real Property Tax Abatement. <br /> (d) Ten-Year General Standards: <br /> (1) New Construction: Proposed multi-family <br /> developments which incorporate new construction of <br />