Confirming Tax Abatement - Haldex Garphyttan Corp. 4404 Nimtz Parkway (5 Year Personal Property)

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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 as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Personal 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. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Personal property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 gt sea. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. PRESENTED \ NOT APPROVED ADOPTED Member of the Common Con fik e G aC`.a [il-luj "p1 6 1999 Ln`Re ilia d, MKM crrf CLERK, isU_ jZ?D,:N.