09-22-08 Council Meeting Agenda & Packet

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WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for personal property tax abatement and is limited to ten (10) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner and future tenants located within the economic revitalization area are qualified for and granted personal property tax deductions for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et sew.; provided however, that neither the Petitioner nor any tenants may receive an economic revitalization area deduction if it receives an enterprise zone investment deduction under I.C. 6- 1.1 -45 for the same property. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. PRESENTEE? NOT APPROVED ADOPTED Member of the Common Counci ttw4bv`'7 1:ve,`I Flied In 5 U r •6�,��C'A t, fipjr .': SEP - 3 27U Joii!'d OR DE CITY CLE -.Sty So. BEND, IN.