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WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby reconfirms its Declaratory Resolution designating <br />the area described herein as an Economic Revitalization Area for the purposes of tax abatement. <br />Such designation is for Personal property tax abatement only and is limited until February 15, <br />2015. The Common Council hereby confirms that Somaschini North America may assume the <br />tax abatement previously granted to South Bend Gear. <br />SECTION II. The Common Council hereby determines that the property owner is qualified for <br />and is granted Personal property tax deduction for a period of (5) five years, and further <br />determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the <br />City of South Bend and Indiana Code 6- 1.1 -12 et se q. <br />SECTION III. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approved by the Mayor. <br />PRESENTED ., <br />NOT APPROVE6 <br />ADOP'M. <br />( (<J" 3 rjcw� ( t-- <br />Member of the Common Colj&il <br />-lied In Clark's um <br />jolim vd)t3ni?i'<. <br />CITY CUIRK, 39U'rH OE NO, IN <br />