Confirming Tax Abatement - Fortuna Land Company 802 S. Fellows (3 Year Real Property)

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RESOLUTION NO. �Z A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWQAS 802 S. FELLOWS TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE YEAR REAL PROPERTY TAX ABATEMENT FOR FORTUNA LAND COMPANY 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 802 S. Fellows and which is more particularly described as fol- lows: LOTS 156 THRU 167 EX NE COR LOT 161 AND VACATED ALLEYS E H RUSHES SECOND ADD KNOWN AS PARCEL #12 MONROE /SAMPLE REDEVELOPMENT AREA with said real estate having the following Key No. 18- 3092 -3512, 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 Reso- lution designating the area described herein as an Economic Revital- ization 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 Resolu- tion by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of three (3) 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 seq. SECTION III. This Resolution shall be and after its adoption by the Common Mayor. iBESENTED NOT APPROVED ADOPTED in full force and effect from Council and approval by the Filed hi Clerk's' 'Off$;; - LFIAV 1 7 �.Da94f if+Et1G GAG?si'flP9