5093-24 Declaratory Resolution - Real Property Tax Abatement 619 Sherman Avenue, 620 Sherman Avenue, and 1021 1/2 - 1023 1/2 Lincoln Way West

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BILL NO. 24-30 RESOLUTION NO. 5093-24 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 619 Sherman Avenue, South Bend, Indiana 46616 AND 620 Sherman Avenue, South Bend, Indiana 46616 AND 1021 1-1023 '/z Lincoln Way West, South Bend, Indiana 46616 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A EIGHT -YEAR (8) REAL PROPERTY TAX ABATEMENT FOR Property Bros LLC WHEREAS, a petition for real property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the areas described as: Key Number: 71-08-02-334-013.000-026 Local Parcel Number: 018-1074-3109 Commonly Known As: 619 Sherman Avenue Legal Description: Lot 48 Cushings 1" Key Number: 71-08-02-335-005.000-026 Local Parcel Number: 018-1074-3128 Commonly Known As: 620 Sherman Avenue Legal Description: Lot 5 Cushings 1st Key Number: 71-08-02-335-008.000-026 Local Parcel Number: 018-1074-3131 Commonly Known As: 1021 1/2 - 1023 1/2 Lincoln Way West Legal Description: Lot 2 40 Ft W Side Cushings First Add be designated as 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, the petitioner owns a parcel identified by Parcel Number 71-08-02-335- 006.000-026, which is immediately south of the parcel identified by Parcel Number 71-08-02-335- 005.000-026; and WHEREAS, the Common Council adopted Resolution No. 5058-23 on October 9, 2023, which confirmed an eight -year multi -family residential development tax abatement for a new residential building on the parcel identified by Parcel Number 71-08-02-335-006.000-026; and WHEREAS, the petitioner plans to subdivide the area defined by Parcel Numbers 71-08- 02-335-006.000-026 and 71-08-02-335-005.000-026 into three parcels; and