Designating Tax Abatement - SFI/LDI Partnership (Southfield Sub.) 1423 & 1430 forest View Ct. (5 Year Residential Property)

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RESOLUTION NO. 2-,4� 1 `i 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 1423 and 1430 Forest View Court AS A RESIDENTIALLY DISTRESSED AREA FOR PURPOSES OF A FIVE (5) YEAR RESIDENTIAL REAL PROPERTY TAX ABATEMENT FOR SFI /LDI PARTNERSHIP (SOUTHFIELD SUBDIVISION) WHEREAS, a Statement of Benefits and a petition for residential real property tax abatement has been submitted to and 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 1423 and 1430 Forest View Court, South Bend, Indiana, and which is more particularly described as follows: Street Address Legal Description Key Number 1423 Forest View Ct Lot 45 Southfield Subdivision 23 -1037- 2073.51 1430 Forest View Ct Lot 47 Southfield Subdivision 23 -1037- 2073.53 be designated as a Residentially Distressed 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 a Residentially Distressed Area under Indiana Code 6 -1.1- 12.1, et s�Mc., 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 a Residentially Distressed Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the petition for real property tax abatement and the Statement of Benefits form meet the requirements of Indiana Code 6 -1.1 -12.1 et sea., for tax abatement.