Confirming Tax Abatement - South Bend Redevelopment Commission for Benefit of Management Consortium, Inc. 5820 W. F. Jay Nimtz Pkwy. (10 Year Real Property)

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RESOLUTION NO. Z y D' % A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 5820 WEST F. JAY NIMTZ PARKWAY TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR THE SOUTH BEND REDEVELOPMENT COMMISSION FOR THE BENEFIT OF: THE MANAGEMENT CONSORTIUM, INC. WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution 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 5820 West F. Jay Nimtz Parkway and which is more particularly described as follows: Lot #3 of the Blackthorn Corporate Office Park and which has Key Number 25- 1018 - 0624.03, 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: 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 Real 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 11. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of ten (10) 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 -12.1 et 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. P:\ MME \TAXABATE \ABATES96\MANAGE2.RES PRESENTED C,2 C b9 NOT APPROVED ADOPTED a - ah - %6 Member of the Common Council JAN t B 1996 CffVCLERk,S0.BE-ND,iR