Amending Chapter 2 Entitled Tax Abatement Procedures

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(c) Whether the project will result in a- sobstapt4a ;- pet- 4neeease #p maintaining or increasing permanent jobs within the community; (d) Whether there will be a net expansion of the assessed valuation of real and personal property within the community. (e) Any project on which the Common Council has adopted a declaratory resolution designating it as a tax abatement area which does not receive a build- ing permit,and /or complete the acquisition of new manufacturing equipment within one (1) year of the adoption of the resolution shall be null and void. (f) Urban Development Area desiqnatio for real property tax abatement shall expir Development Area are eligible for tax abate substantially completed and certified for o commencing with the effective date of the d urban Ueyelopm ments are subs year period co (h Urba for tangible n velooment Area designations expire so that new improvem Areas are eligible for tax ially completed and certifi cing with the effective dat velopment Area designations nal_property tax abatement ons so established. Tanqib only to th innina Jan anted as a result of petitions that new improvements in the Urba only if said new improvements are ncy within the five 5 year peri atgrV resolution. d /or tax abatement areas previous s in said oreviously established e snail expire in le personal Pro N said a 4 €4(i) All other procedures for filing for tax abatement shall be consistent with Indiana Code 6 -1.1 -12.1 through y,};}- }2-} -6 6 -1.1- 12.1 -6 as it may be amend- ed from time to time. SECTION II. This ordinance shall be in full force and effect from and after its passage by the Common Council of the City of South Bend, Indiana, approval by the Mayor, and legal publication. Member of the Common Counci Passed, as amended, January 11, 1982 - 3 - 1.11.82