Confirming Tax Abatement - Edison Lake View Associates & Advantage Puck Technologies 1850 N. Sheridan Ave. (3 Year Real Property)

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RESOLUTION NO. 3 1 5 `i - 03 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1850 NORTH SHERIDAN AVENUE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR EDISON LAKE VIEW ASSOCIATES AND ADVANTAGE PUCK TECHNOLOGIES WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 1850 N. Sheridan Avenue, South Bend, Indiana, and which is more particularly described as follows: Parcel 1 - Tax Key Number 18- 2184- 693808 - South Part Lot 9 -A, Sec. 33 -38 -2E Parcel 2 - Tax Key Number 25- 1006 - 029901 - SW 1 -4 of the NE 1 -4, Sec. 33 -38 -2E 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 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.