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

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RESOLUTION NO. / 3 - A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS THE 800 BLOCK OF SOUTH LAFAYETTE STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT WHEREAS, a petition for real property tax abatement consid- eration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as the 800 Block of South Lafayette Street, South Bend, Indiana, and which is 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 Lafayette Street, and two hundred fifty ( 250 ) feet in length east and west, 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 investi- gation 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 Revitaliza- tion 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 prop- erty tax abatement. SECTION II. That this designation shall be limited to three (3) 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. This REsolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. PRESENUM 9- M MBER OF THE MMON COUNCIL NOT APPROVED ADOPTED 9-8--r co. ' . .