Amending Resolution No. 1681-88 Which Designated 113 E. Wayne St. for Purposes of Real Property Tax Abatement

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RESOLUTION NO. 13 S g_ 4 1 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND AMENDING RESOLUTION NO. 1681 -88 WHICH DESIGNATED 113 EAST WAYNE STREET AS ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT WHEREAS, adopted Resolution No. 1681 -88 which designated the property commonly known as 113 East Wayne Street as an Economic Revitalization Area; and WHEREAS, the Human Resources and Economic Development Committee at the Common Council recommended to the Council that no formal action be taken on the Confirmatory Resolution until the petitioner had a leasehold tenant for the property in question; and WHEREAS, the Human Resources and Economic Development Committee has been advised that there is now a leasehold tenant for the property and that the term of the Real Property Tax Abatement can now be determined; and WHEREAS, in Resolution No. 1681 -88, Section V provided that the Economic Revitalization Area be limited two (2) calendar years from the date of adoption of this Resolution; and WHEREAS, from the date of adoption of Resolution No. 1681 -88, the petitioner has been diligently attempting to lease the property in question, and has now fulfilled the requirements set down by the Common Council; and WHEREAS, an amendment to Resolution No. 1681 -88 is now in order. NOW, THEREFORE, BE IT RESOLVED, BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, as follows: SECTION I. The Common Council hereby formally amends Resolution No. 1681 -88 Section V to read as follows: The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of adoption of Amended Resolution No. 91 -26. SECTION II. The Common Council hereby reaffirms all other Sections and provisions of Resolution No. 1681 -88. 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. MUM 3+ - 2, a -9 1 NOT APPROVED Membe e Common Council Filed in Clerk's Office APR 1 7 1991