Redesinating Certain Areas within City for Purposes of Property Tax Abatement

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• • Substitute Resolution 5-A RESOLUTION NO. 1 400 -V° A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, REDESIGNATING CERTAIN AREAS WITHIN THE CITY AS ECONOMIC REVITALIZATION AREAS FOR THE PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, The City of South Bend acknowledges the receipt of a memorandum dated November 27, 1985, from the State Board of Tax Commissioners addressing Economic Revitalization Area Designations and Restrictions; and WHEREAS, the City has reviewed all of the abatements approved by the Common Council since it began reviewing such petitions and has determined that the abatements originally described as urban development areas referred to herein should be redesignated as Economic Revitalization Areas pursuant to I.C. , 6-1.1-12.1-1 et seq. ; and WHEREAS, the Department of Economic Development previously completed investigations and prepared reports with the information sufficient for the Common Council to determine that the areas referred to herein qualified as Economic Revitalization Areas 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 areas in question; and WHEREAS, the Human Resources and Economic Development Committee of the Common Council has previously reviewed the reports and has recommended to the Common Council that the areas qualify as Economic Revitalization Areas. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council accepts the reports and recommendations of the Human Resources and Economic Development Committee that the following described Resolutions describing specific areas as Urban Development Areas (UDA) should be amended to designate the following areas previously designated as Urban Development Areas as Economic Revitalization Areas (ERA) and hereby adopts a resolution redesignating such areas as Economic Revitalization Areas for purposes of real and personal property tax abatement (as indicated) : (1) Res. No. 719-79 Urban Development Area declaring 1st Source Bank and the Marriott Center Complex for real property tax abatement consideration. (Adopted 9-24-79) (2) Res. No. 726-79 Urban Development Area for River Glen Office Plaza Associates Project for real property tax abatement consideration. (Adopted 10-8-79) (3) Res. No. 729-79 Urban Development Area for Niles Avenue Partnership for real property tax abatement consideration. (Adopted 10-22-79) (4) Res. No. 733-79 Urban Development Area for the area located southeast of the corner of Sample Street and High Street for real property tax abatement consideration. (Adopted 11-15-79) 1