Designating Tax Abatement - 1433 Northside Blvd. - River Rock, Incorporated (2)

Home Browse Search

SECTION IV. The Common Council hereby accepts the report and recommendation of the Community and Economic Development Committee that the area herein described be designated as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of two (2) years. SECTION VII. 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 VIII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION IV. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. ._~ ~~-/a--~ Memb of the Common Council ~ _~ ©8' PRESENTED F107 APPROVED. d ~,DOPTED ~'~,-Lp "~~ Filea lerk'~ Office ApR 2 3 2008 JOHN VOOROE CITY CLEAK, S0.8END, !N.