Confirming Tax Abatement - Mack Tool & Engineering, Inc. 2820 Viridian Dr. (5 Year Personal Property)

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RESOLUTION NO. /99G- y-'� A RESOLUTION _: CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 2820 VIRIDIAN DRIVE, TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 5 YEAR PERSONAL PROPERTY TAX ABATEMENT FOR MACK TOOL & ENGINEERING, 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 2820 Viridian Dr. and which is more particularly described as follows: Airport Industrial Park - Lot 5 -3A1, a part of the southeast quarter of Section 28, Township 38 North, Range 2 East of the second principal meridian, City of South Bend, St. Joseph County, Indiana. with said real estate having the following Key No. 25 1010 040029, 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 SI. The Common Council hereby determines that the property owner is qualified for and is granted personal property tax deduction for a period of five (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 seq. Section III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. PRESENTED /'07 - /V - i NOT APPROVED ADOPTED /12 -/q ^ Memb of t1W Common Council Filed in Clerk's Office i!Vf 0.,