Laserfiche WebLink
F. That the totality of ben: rTts is sufficient to justify the requested deduction, all of <br />which satisfy the requirements of Indiana Code § 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and finds that the proposed described <br />redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the <br />Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement <br />Consideration and the Memorandum of Agreement between the Petitioner and the City of South <br />Bend, and that the Statement of Benefits form completed by the petitioner, said form being <br />prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under <br />Indiana Code § 6 -1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby acceptE the report and recommendation of the <br />Community and Economic Development Committee that the area herein described be designated <br />as an Economic Revitalization Are•;: and hereby adopts a' esolution designating this area as an <br />Economic Revitalization Area for purposes of real property t€ x abatement. <br />SECTION V. The designation as an Economic Reviializatio °T Area shall be limited to two (2) <br />calendar years from the date of the a a )otion of this Resolution by the Common Council. <br />SECTION VI. The Common Council hereby determines that the property owner is qualified for <br />and is granted property tax deduction for a period of seven (7) years as shown by the attachment <br />pursuant to Indiana Code 6 -1.1- 12.1 -17. <br />SECTION VII. The Common Council_ directs the City Clerk to cause notice of the adoption of <br />this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana <br />Code § 5 -3 -1 and Indiana Code § 6- 1.1- 12.1 -2.5, said publication providing notice of the public <br />hearing before the Common Council oT: the proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by <br />the Common Council and approval by,! 1-0 Mayor. <br />Member of the Common Council <br />PRESENTED <br />NOT APPROVED <br />'ADOPTED I \ -2-s--4 2 <br />Pd0`d i 2013 <br />