Designating Tax Abatement - River Race Townhomes LLC 140 Niles Ave. (9 Year Real Property)

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RESOLUTION NO. 3T l A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 140 Niles Avenue AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A NINE (9) YEAR REAL PROPERTY TAX ABATEMENT FOR RIVER RACE TOWNHOMES, LLC WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area located at 122 South Niles Avenue which is more particularly described as: N' /2 Lot 159 Cottrells 151 Lot 161 Cottrells I" Lot 163 Cottrells 151 Lot 162 Cottrells 1St 45 Ft E End Lot 158 Cottrells I" 45 Ft W End 90 Ft E End Lot 158 Cottrells 151 and which has Key Numbers 018 -5010 -0286, 018 -5010 -0287, 018 -5010 -0292, 018 -5010 -0293, 018 -5010 -0291, and 018 -5010 -0288 be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6 -1.1 -12.1 et seq., and South Bend Municipal Code Sections 2 -76 et seq., and; WHEREAS, petitioner has agreed to and has accepted responsibility to report any changes in the final legal description and to report the final, appropriate Key Number to the Department of Community Investment and to the Office of the City Clerk; and WHEREAS, the Department of Community Investment has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code § 6 -1.1 -12.1, et seq., and South Bend Municipal Code Sections 2 -76, et seq., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Community Investment Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area.