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RESOLUTION NO. 132 126 <br />A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY <br />RESOLUTION DESIGNATING CERTAIN AREAS WITHIN <br />THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS <br />1024 SOUTH MAIN STREET, TO BE AN ECONOMIC <br />REVITALIZATION AREA FOR PURPOSES OF A 3 -YEAR <br />REAL PROPERTY TAX ABATEMENT FOR <br />M & K ASSOCIATES <br />WHEREAS, the Common Council of the City of South Bend, Indiana, has <br />adopted a Declaratory Resolution designating certain areas within <br />the City as Economic Revitalization Areas for the purpose of tax <br />abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly <br />known as 1024 South Main Street, South Bend, Indiana, and which is <br />more particularly described as follows: <br />Lot Numbered Five (5) as shown on the recorded Plat of <br />Studebaker Corridor Fourth Minor Subdivision, recorded <br />May 7, 1993, in the Office of the Recorder of St. Joseph <br />County, Indiana, as Instrument No. 9315731. <br />which said real estate having the following Key Number 18 -8001- <br />0036, as an Economic Revitalization Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the <br />public hearing before the Council has been published pursuant to <br />Indiana Code 6 -1.1- 12.1 -2 -5; and <br />WHEREAS, the Council held a public hearing for the purposes of <br />hearing all remonstrances and objections from interested persons; <br />and <br />WHEREAS, the Council has determined that the qualifications for an <br />economic revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City <br />of South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory <br />Resolution designating the area described herein as an Economic <br />Revitalization Area for the purposes of tax abatement. Such <br />designation is for Real property tax abatement only and is limited <br />to two (2) calendar years from the date of adoption of the <br />Declaratory Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property <br />owner is qualified for and is granted Real property tax deduction <br />for a period three (3) years and further determines that the <br />