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RESOLUTION NO. c>90,5� ! 0 <br />A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY <br />RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF <br />SOUTH BEND, INDIANA, COMMONLY KNOWN AS <br />5123 and 5127 West Reo Street and 2018 and 2024 South Prospect Street <br />RESIDENTIALLY DISTRESSED AREAS FOR PURPOSES OF A <br />FIVE (5) YEAR RESIDENTIAL REAL PROPERTY <br />TAX ABATEMENT FOR <br />G & M Properties <br />WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a <br />Declaratory Resolution designating certain areas within the City as Residentially Distressed <br />Areas for the purpose of tax abatement consideration; and 5123 and 5127 West Reo Street <br />and 2018 and 2024 South Prospect Street <br />WHEREAS, a Declaratory Resolution designated the area commonly known as, South Bend, <br />Indiana, and which are more particularly described as follows: <br />Street Address <br />Legal Description <br />Key Number <br />5123 West Reo Street <br />Lot 227 Portage Gardens <br />18- 2226 -8478 <br />5127 West Reo Street <br />Lot 226 Portage Gardens <br />18- 2226 -8477 <br />2018 South Prospect Street <br />Lot 295 Homeland 3rd Add <br />18- 81064026 <br />2024 South Prospect Street <br />Lot 296 Homeland 3rd Add <br />18- 8106 -4027 <br />as a Residentially Distressed Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before <br />the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances <br />and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for a residentially distressed <br />area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the petition for real <br />property tax abatement and the Statement of Benefits form meet the requirements of Indiana <br />Code 6 -1.1 -12.1 et sea., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds that the area meets one of <br />the following conditions as formally established in Ordinance no. 8845 -97, which was passed <br />on December 8, 1997: <br />