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WHEREAS, RealAmerica Development, LLC, recently created the Petitioner, an entity <br /> named Diamond View Apartments,LP, an Indiana Limited Partnership,to own the new affordable <br /> housing building that is to be located at the area commonly known as 520 South Lafayette <br /> Boulevard, South Bend, IN 46601; and <br /> WHEREAS, RealAmerica Development, LLC,has modified the scope of the project since <br /> the Common Council approved Confirming Resolution No. 4922-21; and <br /> WHEARAS, the Petitioner has requested to extend the designation period confirmed by <br /> Confirming Resolution No. 4922-21; and <br /> WHEREAS, the Common Council desires to reconfirm the designation of certain areas <br /> designated by Declaratory Resolution No. 4921-21 and confirmed by Confirming Resolution No. <br /> 4922-21 as an Economic Revitalization Area for purposes of an eight-year (8) multi-family <br /> residential development real property tax abatement; and <br /> WHEREAS, the Common Council desires to transfer the abatement approval from <br /> RealAmerica Development, LLC, to the Petitioner. <br /> NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br /> Bend, Indiana, as follows: <br /> SECTION I. The Common Council hereby rescinds the designation as an Economic Revitalization <br /> Area designated by Declaratory Resolution No. 4921-21 and Confirming Resolution No. 4922-21 <br /> for purposes of an eight-year(8)multi-family residential development real property tax abatement <br /> for the areas described as: <br /> Key Number: 71-08-12-305-001.000-026 <br /> Legal Description: Lots 55 56& 57& W 1/2 Vac Alley E&Adj&N 1/2 <br /> Vac Alley S&Adj To Lot 57 Martins Addn <br /> Key Number: 71-08-12-305-005.000-026 <br /> Legal Description: S 1/2 Lot 44& 3 Ft N Side Lot 45 E 1/2 Vac Alley W <br /> &Adj Martins Add <br /> Key Number: 71-08-12-305-006.000-026 <br /> Legal Description: 32 Ft N Side Lot 45 & E 1/2 Vac Alley W & Adj <br /> Martins Add <br /> Key Number: 71-08-12-305-007.000-026 <br /> Legal Description: 31 Ft Sside Lot 45 &N 1/2 Vac Alley So. &Adj& E <br /> 1/2 Vac Alley W&Adj Martins Add <br /> SECTION II. The Common Council hereby reconfirms Declaratory Resolufion No. 4921-21 and <br /> Confirming Resolution No. 4922-21 designating as an Economic Revitalization Area for purposes <br /> of an eight-year (8) multi-family residential development real property tax abatement the areas <br /> describe as: <br /> Key Number: 71-08-12-305-008.000-026 <br /> Legal Description: Lots 58 59& 60& W 1/2 Vac Alley E&Adj& S 1/2 <br /> Vac Alley N&Adj To Lot 58 Martins Addn <br /> Key Number: 71-08-12-305- 009.000-026 <br /> Legal Description: Lot 46 47 48 1/2 Vac All No. &Adj&E 1/2 Vac Alley <br /> W&Adj Martins Addition <br /> SECTION III. The designation as an Economic Revitalization Area for purposes of an eight-year <br /> (8) multi-family residential development real property tax abatement expires on December 31, <br /> 2026. <br /> SECTION IV. The Common Council hereby determines that the Petitioner is qualified and is <br /> granted property tax deduction for a period of eight(8)years as shown in Section VI of Declaratory <br /> Resolution No. 4921-21 and further determines that the petition, the Statement of Benefits, and <br />