Confirming Tax Abatement - Miles Dental Manufacturing Business 4315 S. Lafayette (5 Years Personal Property)

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RESOLUTION NO. /1 I q- o I A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 4315 S. LAFAYETTE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR RELOCATION OF MILES DENTAL MANUFAC- TURING BUSINESS. 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 4315 S. Lafayette and which is more particularly described as follows: 314x628' Beg NE Cor SE 1/4 NE 1/4 4.528A Sec 26 37 2E and 314x675.5' Beg 628'W NE Cor SE 1/4 NE 1/4 4.86AC Sec 26 37 2E 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 II. 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. 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. (Prepared 3 -3 -89) P05ENTED 4-d!J'8 I NOT APPROVED ADOPTED y - a s- 67 rx�v " W, � � Mem a the Commo ncil 1 lildin 6 Eiiis APR 1 9 1989 IRENE GAMMON -'1 MMR Sli e"