Designating Tax Abatement - 113 East Wayne St. (10 Year Real Property)

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AMENDED RESOLUTION 91 -26 RESOLUTIONNO. �� c41 ' / A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 113 EAST WAYNE STREET TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN YEAR REAL PROPERTY TAX ABATEMENT FOR 113 EAST WAYNE STREET 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 113 East Wayne and which is more particularly described as follows: 113 East Wayne Street in the City of South Bend, in St. Joseph County, Indiana, comprising the east 75 feet of Lot 53 and the east 75 feet of the south one -half of lot 54, all as shown on the Original Plat of the Town, new City, of South Bend, 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 Real Property Tax Abatement only and is limited to two (2) calendar years from the date of adoption of the Resolution formally amending the Declaratory Resolution No. 1681 -88 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 ten (10) years. SECTION III. The Common Council hereby acknowledges that the original Declaratory Resolution was adopted by the Common Council on December 12, 1988 through Resolution No. 1681 -88. The Council further acknowledges that Resolution No. 1681 -88 was formally amended on April 22, 1991 to reflect the fact that the petitioner has complied with the Common Council requirement to have a leasehold tenant for the property before the Confirmatory Resolution be formally acted upon by the Council. In light of the time needed to procure a tenant for said property, the original Declaratory Resolution was formally amended to extend the period of time for such designation as a Real Property Tax Abatement area. SECTION W. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. of thelSgwOon Council PRESENTED 5 _ Q O -c( I NOT APPROVED ADOPTED S _ a. a - q / 1 CLaJ nii Office APR 2 2 1991