Reconfirming Tax Abatement - 5405 Royal Street for Tampico Developments LLC

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RESOLUTION NO. 41 kS-1- A RESOLUTION RECONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 5405 ROYAL STREET AS RESIDENTIALLY DISTRESSED AREAS FOR PURPOSES OF A (5) FIVE -YEAR RESIDENTIAL REAL PROPERTY TAX ABATEMENT FOR Tampico Developments, LLC WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 5405 Royal Street in Crescent Oaks Section 1, South Bend, Indiana, and which is more particularly described as follows: LOT 3 OF CRESCENT OAKS, SECTION IA, AS RECORDED AS INSTRUMENT 0839817 in the Office of the Recorder of Saint Joseph County, Indiana. and this property has Tax Key Number 026 - 1035- 058993 as an Economic Revitalization Area and; WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for a residentially distressed area have been met. WHEREAS, the Council issued a Confirmatory Resolution confirming the adoption of the Declaratory Resolution as Resolution No. 3862 -08 on May 12, 2008. WHEREAS, the petitioner will exceed the five year designation period granted in the Confirmatory resolution which will expire on May 12, 2013. 1