Confirming Tax Abatement - Original Foods Inc. 1220 S. Main (5 Year Personal Property)

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RESOLUTION NO. j 44,S1-no A RESOLUTION OF THE CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS 1220 SOUTH MAIN AN ECONOMIC REVITAIZATION AREA FOR PURPOSES OF PERSONAL 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 purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 120 South Main, and more particularly described by a line drawn as follows: Lots 15 and 16 of Stulls 3rd Edition 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 . 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 personal property tax abatement only and is limited to five (5 ) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II . This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /' < a Y'!' ber of the`f.mmon Council REED IN CLERK'S OFFICE PRESENTED /d 2 7-fl OCT 2 21986 NOT APPROVED IRENE�oo ADOPTED /0 - 7-8"6 8� �w GAM/ 4c ;Q CITY CLERK, so.