Terminating Tax Abatement - Toro South Bend Manufacturing 515 W. Ireland Rd. (10 Year Real Property)

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RESOLUTION NO. 93 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND TERMINATING THE TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR TORO SOUTH BEND MANUFACTURING. 9 1j(lEZRC% M, the Common Council of the City of South Bend adopted Resolution No. 1938 -92 designating the property commonly known as 515 West Ireland Road, South Bend, Indiana, 46614, as an economic revitalization area for purposes of a ten (10) year real property tax abatement on April 28, 1992; and DD17h the Common Council of the City of South Bend adopted Resolution No. 1943 -92 confirming the adoption of the declaratory resolution for this property on May 11, 1992; and DD17fj��i, the Common Council believes that Toro South Bend Manufacturing has failed to comply with its provisions of the Statement of Benefits form and the representations made to the Common Council by the property owner's announced closing of the South Bend facility; and WTWZ02b, the Common Council will hold a public hearing on Monday, January 11, 1993, at 7:00 p.m., in the Chambers of the South Bend Common Council for determining whether the Petitioner has complied with the Statement of Benefits; and W 7fjCE (lE i, at said public hearing the property owner and other interested parties may present information to the Common Council, and the Common Council shall determine whether the property has made reasonable efforts to substantially comply with the Statement of Benefits and whether any failure to substantially comply was caused by factors beyond the control of the property owner; and V jrj!(E kE i> in the event the Common Council determines that the property owner has failed to comply, it shall adopt this Resolution terminating the property owner's deductions heretofore granted. NOW, THEREFORE, BE IT ORDAINED, by the Common Council of the City of South Bend, Indiana, as follows: fgttfOU I. The Common Council of the City of South Bend, Indiana, hereby sets January 11, 1993 at 7:00 p.m. in the Chambers of the Common Council, Fourth Floor County -City Building, South Bend, Indiana, as the time and place where it will conduct a hearing on whether Toro South Bend Manufacturing has complied with its Statement of Benefits. 09CUOtt %I. In the event that the South Bend Common Council determines after proper public hearing that the property owner has failed to comply with its Statement of Benefits it shall adopt this Resolution thereby terminating the property owners deduction heretofore granted. *WtOtt M. In the event that the South Bend Common Council determines that the property owner has failed to comply with the representations made to the Human Resources and Economic Development Committee and the South Bend Common Council, it shall in effect by the adoption of this Resolution formally repeal and revoke Resolution No. 1938 -92 and Resolution No. 1943 -92. f5tttfOU IV. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Membe of theCer6mon Council ►IESENTED NOT APPROVE® ADOPTED /- //- 9.3 / -// -93 Filed in Clerk's Office DEC 1 A.