Designating Tax Abatement - Marco & Ramona Kyle 5111 Olds Ave. (5 Year Residential Property)

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RESOLUTION NO. 3 32,2--0V 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 5111 OLDS AVENUE AS A RESIDENTIALLY DISTRESSED AREA FOR PURPOSES OF A FIVE (5) YEAR RESIDENTIAL REAL PROPERTY TAX ABATEMENT FOR MARCO AND RAMONA KYLE WHEREAS, a Statement of Benefits and a petition for residential real property tax abatement has been submitted to and filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 5111 Olds Avenue, South Bend, Indiana, and which is more particularly described as follows: Street Address Legal Description Kev Number 5111 Olds Avenue Lot 109, 110, 111 Portage Gardens 18- 22248383 be designated as a Residentially Distressed 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, the Department of Community and Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as a Residentially Distressed Area under Indiana Code 6 -1.1 -12.1, et sue., 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 and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as a Residentially Distressed Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: