5063-24 Correcting Scrivener's Error: Retail Development Real Property Tax Abatement Petition for Peak Invesment and Asset Management LLC (Subsitute Bill)

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SUBSTITUTE BILL NO. 24-01 RESOLUTION NO. 5063-24 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, CORRECTING SCRIVENER'S ERROR IN RESOLUTION NO. 5031-23 DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1405 Portage Avenue, South Bend, IN 46616 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE-YEAR (5) REAL PROPERTY TAX ABATEMENT FOR Peak Investment and Asset Management LLC AND CORRECTING SCRIVENER'S ERROR IN RESOLUTION NO. 5040-23 CONFIRMING THE ADOPTION OF RESOLUTION NO. 5031-23 WHEREAS, on June 26, 2023, the Common Council of the City of South Bend, Indiana, adopted Resolution No. 5031-23 designating a certain area within the City as an Economic Revitalization Area for the purpose of tax abatement consideration; and WHEREAS, Resolution No. 5031-23 designated the area described as: Key Number: 71-03-35-360-020.000-026 Commonly Known As: 1405 Portage Avenue Legal Description: Lot C Victory Add & Vac Alley N & Adj & Ex Se Tri Cor to City 20/21 Con w/ 018-2182-6830 Per Assessors Req IC 6-1.1-5-16 an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq. and South Bend Municipal Code Sections 2-76 et seq.; and WHEREAS, on July 10, 2023, the Common Council adopted Resolution No. 5040-23 confirming Resolution No. 5031-23; and WHEREAS, in addition to the area described in Resolution No. 5031-23 and Resolution No. 5040-23, the area designated as an Economic Revitalization Area by Resolution No. 5031-23 and confirmed by Resolution No. 5040-23 should have also included the area described as: Key Number: 71-03-35-360-017.000-026 Commonly Known As: 1301 Elwood Avenue Legal Description: Lot 8 Victory Add Key Number: 71-03-35-360-016.000-026 Commonly Known As: 1305 Elwood Avenue Legal Description: Lot 7 Victory Add and that this additional area was inadvertently excluded in error from Resolution No. 5031- 23 and Resolution No. 5040-23; and WHEREAS, the Common Council desires to correct this scrivener's error appearing in Resolution No. 5031-23 and in Resolution No. 5040-23. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: