Confirming the Adoption of a Declaratory Resolution - Catalyst LLC (7 Year Reeal Property)

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THENCE SOUTH 000- 55' -14" EAST ALONG SAID WEST LINE A DISTANCE OF 629.46 FEET TO THE POINT OF BEGINNING. CONTAINING 14.10 ACRES MORE OR LESS, AND ALSO TO BE LATER KNOWN AS LOT # 7 OF THE PLAT OF "IGNITION PARK MAJOR SUBDIVISION, SECTION TWO" AS RECORDED IN THE RECORDS OF THE ST. JOSEPH COUNTY, INDIANA RECORDER'S OFFICE. SUBJECT TO ALL LEGAL RIGHT -OF -WAYS, AND EASEMENTS OF RECORD. and which has Key Numbers which are not yet platted be designated as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and 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 Real property tax abatement only and is limited to two (2) 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 is qualified for and is granted Real property tax deduction for up to a period of seven (7) years as shown by the attachment pursuant to Indiana Code 6 -1.1- 12.1 -17 and further determines that the petition, the Memorandum of Agreement between the Petitioner and the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et sect. SECTION III. This Resolution shall be in full force and Common Council and approved by the Mayor. of PRESENT V � _r 1 I ]ot "ate (! adoption by the Filed in Office JUL 22 ZU14 JOtIk `d�Ei��`JE CITY CLERK, SOUTH SEND, IN