Confirming Tax Abatement - General Machine & Saw Company of Indiana 3636 Gagon Rd. (5 Year Personal Property)

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east along the said centerline of Kenmore Street, 579.86 feet; thence north 89 59'37" west 640 feet; thence south 89 58156" west 424.01 feet to the point of beginning; thence continuing south 89 58'56" west, 100.00 feet; thence north 00 02145" east, 784.85 feet; thence south 89 591371' east, 100.00 thence north 00 02145" east, 784.85 feet thence south 89 59137" east, 100.00 thence south 00 02145" west, 784.81 feet to the point of beginning and containing 1.802 acres more or less and is subject to restrictions and or covenants of record; with said real estate having the following Key No. 25 -1010- 038507, 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 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 years (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 -12.1 et sea. SECTION III. This Resolution shall from and after its adoption by the the Mayor. PRESENTED NOT APPROVED �7 ADOPTED 2 - —) -� - be in full force and effect Common Council and approval by i i ieek's office FEB 14 1995 IRENEOAMMON ctTYOLEBK,SD. BEND, IN.