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RESOLUTION NO. /7&&— 90 <br />A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY <br />RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF <br />SOUTH BEND, INDIANA COMMONLY KNOWN AS <br />2629 Foundation Drive <br />AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF <br />A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR <br />Total Composites, Inc. <br />WHEREAS, the Common Council of the City of South Bend, <br />Indiana has adopted a Declaratory Resolution designating certain <br />areas within the City as Economic Revitalization Areas for the <br />purpose of tax abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area <br />commonly known as 2629 Foundation Drive which is more particularly <br />described as follows: <br />A parcel of real <br />being 316.80 feet <br />West, being a pare <br />West and 1,590.40 <br />Southwest Quarter <br />East. <br />property in St. Joseph County, Indiana, <br />North and South by 450.00 feet East and <br />,el of real property which is 211.27 feet <br />feet North of the Southeast corner of the <br />of Section 28, Township 38 and Range 2 <br />This property has Key No.: 25- 1010 - 040012. <br />as an Economic Revitalization Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution <br />and the public hearing before the Council has been published <br />pursuant to Indiana Code 6- 1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes <br />of hearing all remonstrances and objections from interested persons; <br />and <br />WHEREAS, the Council has determined that the qualifications <br />for an Economic Revitalization Area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the <br />City of South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its <br />Declaratory Resolution designating the area described <br />herein as an Economic Revitalization Area for the purposes <br />of tax abatement. Such designation is for personal <br />property tax abatement only and is limited to two (2) <br />calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that <br />the property owner is qualified for and is granted personal <br />property tax deduction for a period of five (5) years. <br />SECTION III. This Resolution shall be in full force <br />and effect from and after its adoption by the Common <br />Council and approval by the Mayor. <br />4109N <br />PRESENTED Q - I a- qC <br />NOT APPROW -D <br />ADOPTHi d -/d -90 <br />Member of <br />in Clerk's Office <br />k s, <br />1 <br />