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REGULAR MEETING AUGUST 25, 2003 <br />RESOLUTION NO. 3234 -03 A RESOLUTION CONFIRMING THE ADOPTION OF A <br />DECLARATORY RESOLUTION DESIGNATING <br />CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, <br />INDIANA, COMMONLY KNOWN AS 201 NORTH <br />OLIVE STREET TO BE AN ECONOMIC <br />REVITALIZATION AREA FOR PURPOSES OF A TEN <br />(10) YEAR REAL PROPERTY TAX ABATEMENT FOR <br />KINNUCAN WELSCH REALTY L.L.C. <br />WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory <br />Resolution designating certain areas within the City as Economic Revitalization Areas for the <br />purpose of tax abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly known as 201 North Olive <br />Street, South Bend, Indiana, and which is more particularly described as follows: <br />North 57.39 F + on Olive x 257" of Lots 11 & 12 & P + S of 33, 32, 31, <br />30 & all of 29 & 14" Vacant Alley West End Subdivision. <br />60.37 Ft on Olive Street x 261 Foot on Orange being Lot 10 and parts of <br />11- 30- 31 -32 -33 & 14 Foot Alley West End Subdivision. <br />and which has Key Numbers 18- 2038 - 128701 and 18- 2038 -1289, as an Economic Revitalization <br />Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the <br />Council has been published pursuant to Indiana Code 6- 1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and <br />objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic revitalization <br />area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, <br />Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the <br />area described herein as an Economic Revitalization Area for the purposes of tax abatement. <br />Such designation is for Real property tax abatement only and is limited to two (2) calendar years <br />from the date of adoption of the Declaratory Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner is qualified for <br />and is granted Real property tax deduction for a period of ten (10) years, and further determines <br />that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South <br />Bend and Indiana Code 6- 1.1 -12 et sea. <br />SECTION III. This Resolution shall be in full force and effect from and after its adoption by the <br />