Confirming Tax Abatement - Old Lathe Works Partnership 475 N. Niles Ave. (5 Year Real Property)

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RESOLUTION NO. t 3 - $S A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS 475 N. NILES AVENUE 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 commonly known as 475 N. Niles Avenue and more particularly described by a line drawn as follows : 251 feet of the East end, except 60 feet of the North side of Lot 3 and 251 feet of the East end of Lot 4 and 251 feet of the East end and one half of the vacated alley 6 feet wide on the East side of the Lot 12 and Lots 13 , 14 , 15 , 16 and the vacated alley between Cottrell ' s Second Addition 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 real 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 . 141 e.er of the C.1'mon Council FILED IN CLERK'S OFFICE PROMO 7 a - NOT APPROVE JUN j 1985 ADOPTED 7-Q -effir Irene Gammon CITY CLERK,SOUTH BEND,IND.