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• <br /> Bill No. <br /> Ordinance No. -78'g3 - <br /> AN ORDINANCE AMENDING CHAPTER 2, ARTICLE 6, <br /> OF THE MUNICIPAL CODE OF THE CITY OF SOUTH <br /> BEND, INDIANA ADDRESSING TAX ABATEMENT PROCEDURES <br /> The South Bend Common Council acknowledges that in the <br /> last session of the Indiana General Assembly, amendments to <br /> the State law addressing economic revitalization were passed <br /> by the enactment of Public Law 56-1988. <br /> The following Bill is introduced to bring our local tax <br /> abatement procedures into conformity with this new State <br /> law. <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 entitled <br /> "Personal and Real Property Tax Abatement Procedures" is - <br /> hereby amended in part as follows: <br /> Section 2-76. Personal and Real Property Tax <br /> Abatement Procedures. <br /> (A) Definition(s) . As used in this Chapter: <br /> (5) Economic revitilization area shall mean <br /> an area which is within the corporate <br /> limits of a city, town, or county which <br /> has become undesirable for, or <br /> impossible of, normal development and <br /> occupancy because of a lack of <br /> development, cessation of growth, <br /> deterioration of improvements or <br /> character of occupancy, age, <br /> obsolescence, substandard buildings, or <br /> other factors which have impaired values <br /> or prevent a normal development of <br /> property or use of property. The term <br /> "economic revitilization area" also <br /> includes: <br /> (a) any area where a facility or a group of <br /> facilities that are technologically_, <br /> economically, or energy obsolete are <br /> located and where the obsolescence may <br /> lead to a decline in employment and tax <br /> revenues; and <br /> (b) a residentially distressed area, except <br /> as otherwise provided in I.C. 6-1. 1- <br /> 12 . 1-1 et seq. <br /> (B) Eligibility. Tax Abatement petitions to the <br /> Common Council shall be considered only from owners of real <br /> property or new manufacturing equipment personal property <br /> located within the City who propose economic revitilization <br /> projects which conform to the general standards for the <br /> relevant category, which will be used, along with <br />