Designating Tax Abatement - Transwestern Investments Inc. 800 Block of S. Lafayette St. (3 Year Real Property)

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RESOLUTION NO. 1 (436,- 3‘ A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS THE 800 BLOCK OF SOUTH LAFAYETTE STREET 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 com- monly known as the 800 Block of South Lafayette Street and more particularly described by a line drawn as follows : A parcel of property being a portion of Lots Numbered 177, 176, 175 and 174 as shown on the Recorded Plat of Daniel Garst' s First Addition to the City of South Bend, Indiana, recorded in Plat Book 3 , page 5, of the records of the Recorder of St. Joseph County, Indiana, and portion of a north and south public alley lying west of said lots, which parcel shall be eighty (80 ) feet in width north and south along Lafay- ette Street, and two hundred fifty (250 ) feet in length east and west, 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 ofSouth 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 three (3) 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. CACI-Member of the o on Council PRESENTED 9-a NOT APPROVED ADOPTED 9- a q