Confirming Tax Abatement - 1st Source Bank NW Corner of Colfax & Michigan Streets (5 Year Real Property)

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RESOLUTION NO. U ar.wsq A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS N.W. corner of Colfax and Michigan Sts . , South Bend, Indiana TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF 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 N.W.corner of Colfax & Michigan Sts. , South Bend, IN and more particularly described by a line drawn as follows : Lot Numbered Six (6) and a lot or parcel of land 24 feet in width, North and South, taken off of and from the entire length of the South side of Lot Numbered Five (5) , all as shown on the Original Plat of the City of South Bend, St. Joseph County, Indiana. 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. Al f ..G,,1/ Memel of the Co I'd Council MED iU ME TS OFFICE PRESEHTO 3-0)G- & NOT APPROVE@ Irene Gammon ADOPTED 3 - (9_ E. y CITY CLERK,SOUTH BEND,IND.