Designating Tax Abatement - 1401 South Main Street - 1st Source Land Trust #13 (Robert F. Jagger d/b/a Old Fort Building Supply of South Bend, Inc

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RESOLUTION NO. 3 ~~ ~~~ A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1401 SOUTH MAIN STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE-YEAR (5) REAL PROPERTY TAX ABATEMENT FOR 1ST SOURCE LAND TRUST #13 (ROBERT F. JAGGER) d/b/a OLD FORT BUILDING SUPPLY OF SOUTH BEND, INC. WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area commonly known as 1401 South Main Street, South Bend, Indiana, and which is more particularly described as follows: Lot 2 Studebaker Corridor 5~' Minor Sub and which has Key Number 18-8005-0230 at this point and time, be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6-1.1-12.1 et sew., and South Bend Municipal Code Sections 2-76 et seg., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code § 6-1.1-12.1, et seg., and South Bend Municipal Code Sections 2-76, et seg., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Community and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: