Designating Tax Abatement - University of Notre Dame DU LAC, and Innovation Park at Notre Dame, Inc

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Property Tax Abatement Consideration and the Memorandum of Agreement between the Petitioner and the City of South Bend, and that the Statement of Benefits form completed by the Petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1-3, and the Statement of Benefits is hereby approved. SECTION IV. The Common Council hereby accepts the report and recommendation of the Community and Economic Development Committee that the area herein described be designated as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement: SECTION V. The designation as an Economic Revitalization Area shall be limited to ten (10) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the Petitioner is qualified for and is granted property tax deductions for a period often (10) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. n, Member o he Common Counci PRESENTED g-?iS ~ ~o ~IC3T APPROVED Q~ iapOPTFD D ~~i~~ ~ v Filed Ili Cl~r~'~ ~~~;~~ JOwN VOORD': CITY CI.EtiK, S0. t~E~ID, IN.