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Substitute Bill No. 119-89 <br /> Ord. No. 'UfD- /"I D (Revised 2-8-90) <br /> AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY <br /> OF SOUTH BEND, INDIANA, AMENDING CHAPTER 2, ARTICLE 6, <br /> COMMONLY REFERRED TO AS TAX ABATEMENT PROCEDURES <br /> STATEMENT OF PURPOSE AND INTENT <br /> For the past several months the Common Council, City <br /> Administration, and members of various private organizations <br /> have been meeting to discuss tax abatement procedures. <br /> The last ordinance amending these procedures was passed <br /> in 1987. Since that time, the governing state law has been <br /> amended. <br /> The following ordinance replaces in its entirety, the <br /> current Article addressing Tax Abatement Procedures. This <br /> ordinance attempts to clarify and streamline where possible, <br /> our local procedures. Such procedures are set forth to <br /> provide a mechanism to promote and assist economic <br /> development within the City. <br /> It is believed that this ordinance is in the best <br /> interest of 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 of the Municipal Code <br /> of the City of South Bend, Indiana, commonly referred to as <br /> Tax Abatement Procedures is hereby repealed. Said Chapter <br /> 2, Article 6 is hereby replaced in its entirety with the <br /> following amendatory language which shall read as follows: <br /> Article 6. Tax Abatement Procedures. <br /> Division I. , General Provisions. <br /> Sec. 2-76 Legislative Findings.1 <br /> (a) The South Bend Common Council hereby finds that <br /> there is a need to develop improved tax abatement procedures <br /> which set forth the philosophy, regulations, procedures, and <br /> general standards, which the City of South Bend, Indiana, <br /> believes are necessary to encourage economic development <br /> within the City limits. <br /> (b) The Council therefore declares that the following <br /> tax abatement procedures and general standards shall govern <br /> tax abatement requests filed for consideration with the <br /> City. <br /> (c) The following tax abatement procedures and general <br /> standards are promulgated pursuant to the "Home Rule" Powers <br /> vested in the City pursuant to I.C. , 36-1-3-1, et seq. , and <br /> the "Deduction for Rehabilitation or Redevelopment of Real <br /> Property in Urban Development Areas" statute set forth in <br />