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Filed in Clerk's Office <br /> Oct 22, 2025 <br /> BILL NO. 25-42 Bik uTthah Bo <br /> City Clerk,, Sout S Bend, IN <br /> RESOLUTION NO. <br /> A RESOLUTION MODIFYING AND RECONFIRMING THE ADOPTION OF <br /> DECLARATORY RESOLUTION NO. 5018-23 DESIGNATING CERTAIN <br /> AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY <br /> KNOWN AS <br /> 3201 W. Calvert Street, South Bend, Indiana 46613 <br /> AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A <br /> FIVE-YEAR (5) PERSONAL PROPERTY TAX ABATEMENT FOR <br /> Verbio North America LLC <br /> WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a <br /> Declaratory Resolution designating certain areas within the City as an Economic Revitalization <br /> Area for the purpose of tax abatement consideration; and <br /> WHEREAS, Declaratory Resolution No. 5018-23 designated the area commonly known <br /> as 3201 W. Calvert Street, South Bend, Indiana 46613, and which is more particularly described <br /> as: <br /> Business Personal Property <br /> and which has Key Numbers to be assigned,an Economic Revitalization Area under the provisions <br /> of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et seq.; and <br /> WHEREAS, upon proper notice, a public hearing was held, after which the Common <br /> Council issued Confirming Resolution No. 5025-23 on June 12,2023, confirming the adoption of <br /> Declaratory Resolution No. 5018-23; and <br /> WHEREAS, Verbio North America LLC, a Foreign Limited Liability Company, was <br /> granted a designation period which expires on December 31,2026, in Confirming Resolution No. <br /> 5025-23; and <br /> WHEREAS,Verbio North America LLC has begun a project to modernize the facility and <br /> operations located at the area designated, through the adoption of Declaratory Resolution No. <br /> 5018-23 and confirmed through the adoption of Confirming Resolution No. 5025-23, as an <br /> Economic Revitalization Area for the purpose of tax abatement consideration; and <br /> WHEREAS, the modernization project, upon completion, will employ proprietary <br /> technology and processes that will be eligible for federal tax credits that incentivize the <br /> development and implementation of technologies for renewable energy; and <br />