Renewing & Extending the term of the South Bend Urban Enterprise Zone

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RESOLUTION NO. L€uCk A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA,RENEWING AND EXTENDING THE TERM OF THE SOUTH BEND URBAN ENTERPRISE ZONE WHEREAS, the Common Council of the City of South Bend, Indiana, (the "Common Council") has a continuing interest in the economic and community development of the City of South Bend, Indiana (the "City") and its residents; and WHEREAS, the South Bend Urban Enterprise Zone (the "Enterprise Zone"),, which is governed by Indiana Code 5-28-15 (the "Act"), was established on January 1, 2004, all pursuant to the Act, and has been active in enhancing and promoting economic and community development within the Enterprise Zone and the City; and WHEREAS, the current designation term of the Enterprise Zone is scheduled to expire on December 31, 2013; and WHEREAS, Indiana Code 5-28-15-10(b) of the Act authorizes the Common Council to extend the current term of the Enterprise Zone for an additional five (5) years without application to or authorization by the Indiana Economic Development Corporation; and WHEREAS, it is the desire and intent of the City to extend the current term of the Enterprise Zone to continue for an additional five (5) years until December 31, 2018; and WHEREAS, after being fully advised in the matter, NOW THEREFORE, BE IT HEREBY RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, ST JOSEPH COUNTY, INDIANA, THAT: Section 1. The Common Council finds that the Enterprise Zone facilitates and promotes economic and community development in the City and for its residents and hereby reaffirms its support of the Enterprise Zone. Section 2. The Common Council hereby renews and extended the current expiration date of the Enterprise Zone from December 31, 2013 until December 31, 2018 pursuant to and in accordance with Indiana Code 5-28-15-10(b) of the Act. Section 3. This Resolution and the actions of the Common Council do not limit or restrict the statutory ability of the Enterprise Zone to be renewed by the Board of the Indiana Economic Development Corporation in accordance with Indiana Code 5-28-15-10(c) and -10(d) of the Act. Resolution of Common Council Extending and Renewing Lafayette Enterprise Zone Term