9394-03 Amend Chapter 2, Replacing in its entirety Article 6 Entitled Tax Abatement Procedures

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Ordinance No. ~ 3 q y - ~3 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AMENDING CHAPTER 2 OF THE SOUTH BEND MUNICIPAL CODE BY REPLACING IN ITS ENTIRETY ARTICLE 6 ENTITLED TAX ABATEMENT PROCEDURES STATEMENT OF PURPOSE AND INTENT The Common Council of the City of South Bend, Indiana, ("Council") acknowledges that it is reasonable from time to time to review the procedures. for tax abatement to assure that these procedures continue to be appropriate in light of governing state law and local goals for community and economic development. The Council further acknowledges that the last ordinance amending tax abatement procedures was passed in 1998; and, since that time, the governing state law has been amended. The procedures addressed in this ordinance are the result of a series of meetings held by the Council's Community and Economic Development Committee where members of the public and the City of South Bend administration provided input. The Counci{ desires that tax abatements be granted in a manner that provides incentives fior private sector entities to invest in property and to execute certain other actions which the Council considers to provide public benefits that would be in the best interests of the City of South Bend. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: Section I. Deletion And Replacement Of Existing Chapter 2. Article 6 The South Bend Municipal Code is amended to delete Chapter 2, Article 6 in its entirety and to insert the provisions set forth below as a new Chapter 2, Article 6. Article 6. Tax Abatement Procedures DIVISION 1. GENERAL PROVISIONS Sec. 2-76 Legislative Findings A. The Council finds that there is a need to develop improved tax abatement procedures which set forth the philosophy, regulations, procedures, and general standards, and which the City ofi South Bend, Indiana ("City") believes are necessary to encourage economic development within the City's corporate boundaries. B. The Council, therefore, declares that the tax abatement procedures and general standards set forth in this Chapter 2, Article 6 shall govern tax abatement requests filed for its consideration. Tax Abatement Ordinance Page 1