Confirming Tax Abatement - East LaSalle and East Raceway (10 Year Real Property)

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RESOLUTION NO. 1604 -88 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS EAST LASALLE AND EAST RACEWAY TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT WHEREAS, the Common Council of the City of South Bend 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 East LaSalle and East Raceway and which is more particularly described as follows: A resubdivision of Lots 11 through 21 and Lots 23 through 29, inclusive, along with part of Lot 22 in Miller and Green's second addition, and Lots 10 through 12, inclusive, in the original plot to the Town of Lowell, along and together with vacated streets and alleys and parcels adjacent thereto in the City of South Bend, Portage Township, St. Joseph County, Indiana, 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 -25; 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. That 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 Declaratory Resolution by the Common Council. -1-