Designating Tax Abatement - 3636 Gagnon St. (5 Year Real Property)

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north 89°59 ' 37" west, 640 .00 feet; thence south 89°58 ' 56" west 424.01 feet to the point of beginning; thence continuing south 89°58 ' 56" west, 100 feet; thence north 00°02 ' 45" east, 784. 85 feet; thence south 89°59 ' 37" east, 100. 00 feet thence south 00°02 ' 45" west, 784.81 feet to the point of beginning and containing 1. 802 acres more or less and is subject to restrictions and or covenants of record to be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12. 1-1, et seq. ; and WHEREAS, the Redevelopment Commission has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6-1.1-12.1-1, et seq. , and has further prepared maps and plats showing the boundaries and such other information as required by law of the area in question; and WHEREAS, the Human Resources and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. 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 accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION II. That this designation of this area shall be limited to two ( 2) calendar years from the date of the adoption of this resolution by the Common Council. SECTION III. That the Common Council directs the City Clerk to cause notice of the adoption of this resolution to be published, said publication providing notice of the public hearing before the Common Council on said declaration. SECTION IV. The abatement reduction shall be for six years. This determination is made under the authorization of I.C. 6-1-1-12.1-3 . SECTION V. This resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. / if Tember/•f the Common C`j cil PRESENTED oC- 9- &- -2 NOT APPROVED -7 ' n ADOPTED c;- q-87, a"c Q�'n 4 ") °IL