5089-24 Declaratory Resolution - Personal Property Tax Abatement 1710 North Sheridan Street

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Abatement Consideration and that Statement of Benefits form completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code 6-1.1-12.1-4.5. SECTION III. The Common Council hereby accepts the report and recommendation of the Department of Community Investment and the Community Investment Committee's favorable recommendation that the area herein described be designated as an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes such a designation. SECTION IV. The Common Council determines that such designation is for personal property tax abatement only and shall expire on December 31, 2027. SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years as shown below pursuant to Indiana Code 6-1.1-12.1-17. Year 1 - 100% Year 2 - 90% Year 3 - 80% Year4-70% Year 5 - 60% SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana Code 5-3-1, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Sharon McBride, Council President South Bend Common Council Attest: Bianca Tirado, gQ'Clerk Office of the City Clerk Presented by me, the undersigned Clerk of the City of South Bend, to the Mayor of the City of South Bend, Indiana, on the 10th day of August , 2024, at 12 o'clock p.m. I m Bianca Tirado, Cityd Office of the City Clerk t t Approved and signed by me on the 6 1 day of Jan Mueller, Mayor City of South Bend , 2024, at 1 o'clock