Reconfirming Tax Abatement - South Bend Gear LLC

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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; and WHEREAS,the Council issued a Confirmatory Resolution confirming the adoption of the Declaratory Resolution as Resolution No. 4085-11 on February 28, 2011; and WHEREAS,the Petitioner will exceed the two year designation period granted in the Confirmatory resolution, which will expired on February 28, 2013; and WHEREAS,the Petitioner has requested an additional period of time to complete construction of the planned project. 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 Personal 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 property owner is qualified for and is granted Personal property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2,Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. I Member of the Common Council � _. Filed in Clam's Off ice JAN 1013 RESENT' - VOOF4PE O� AP d 3 CITY CLERK,SOUTH BEND,IN cop Ec, t— iii-13