Designating Tax Abatement - Honeywell, Inc. Aircraft Landing Systems 3520 Westmoor St. (10 Year Real Property)

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RESOLUTION NO. 3� 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 3520 WESTMOOR STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR HONEYWELL, INC., AIRCRAFT LANDING SYSTEMS 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 atea commonly known as 3520 Westmoor Street, South Bend, Indiana, and which is more particularly described as follows: NESE 4 37 2E Tract 2 Cont 39.32 AC and which has Key Number 18- 2193 -7255, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et sea., and South Bend Municipal Code Sections 2 -76 et sea., 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 an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1, et seq., and South Bend Municipal Code Sections 2 -76, et sea., 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 an Economic Revitalization Area; and WHEREAS, notwithstanding IC 6 -1.1 -12.1, the city may grant the assessed value deductions described if, before July 1, 2001, both the property owner and the city complete all the procedures required by IC 6 -1.1 -12.1 that would have been necessary to comply with IC 6- 1.1 -12.1 and for the city to grant the deductions.