Designating Tax Abatement - JVE Investment LLC. (The Tire Rack, Inc.) 3851 Olive Rd. (10 Year Real Property)

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RESOLUTION NO. 2-32O -Oa 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 3851 OLIVE ROAD AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR JVE INVESTMENT LLC(THE TIRE RACK, INC.) 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 commonly known as 3851 Olive Road, South Bend, Indiana, and which is more particularly described as follows: WEST SIDE SOUTHWEST 1/4 65.40 ACRES AND SOUTHWEST NORTHWEST 1/4 SOUTH OF TOLL ROAD 1.5 ACRES MORE OR LESS SECTION 19 38 2 EAST. and which has Key Number, 25- 1011 - 0186, 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 sue., 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 sue., 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.