Confirming Tax Abatement - Cobra Development LLC for the Benefit of: Michiana Midget Motors Inc. 3735 William Richardson Dr. (3 Year Real Property)

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RESOLUTION NO. A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3735 WILLIAM RICHARDSON DRIVE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR COBRA DEVELOPMENT, LLC FOR THE BENEFIT OF: MICHIANA MIDGET MOTORS, INC. WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution, Resolution Number 2590 -98 adopted on March 23, 1998, 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 3735 William Richardson Drive, South Bend, Indiana, and which is more particularly described as follows: Lot Numbered Eight A (8A) as shown on the recorded Plat of Toll Road Industrial Park Second Minor Subdivision, recorded December 1, 1991 as Document 9540654 in the Office of the Recorder of St. Joseph County, Indiana and which has Key Number 25- 1013- 021112, 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: