Confirming Tax Abatement - 1433 Northside Blvd. - River Rock, Incorporated

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WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the annual amount for which similar buildings in the county were leased or rented or offered for lease or rent during the period the eligible vacant building was unoccupied is approximately in the amount of $70,616. SECTION III. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of two (2) years, and further determines that the petition, the Memorandum of Agreement between the Petitioner and the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 etseQ. SECTION IV. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. - N~ Member of the C on Council ._,~~~~t~ 5-21-~Fs NOT APPi~OYEQ ADOPTED ~,•5~21~0~ F;t~d to Cte~k'~ C}f~tce APR 2 3 2008 JGt3t2 VOORCE C1T-CLERK, c0. b_t~D, IId.