Designating Tax Abatement - NW Corner of Colfax & Michigan Streets (5 Year Real Property)

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RESOLUTION NO. I I a `I- X'Y A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS N.W. Corner of Colfax and Michigan Sts. , South Bend, Indiana AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT WHEREAS, a petition for real property tax abatement conside- ration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as N.W. Corner of Colfax and Michigan Sts. , South Bend. Indiana, and which is 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. 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 investigation 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 recom- mended to the Common Council that the area qualifies as an Economic Revitalization 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 Develop- ment 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 property tax abatement. SECTION II. That this designation shall be limited to five (5) calendar years from the date of the adoption of this Reso- lution 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 pub- lished, said publication providing notice of the public hearing before the Common Council on said declaration. SECTION IV. That the Common Council directs the City Clerk to cause notice of the adoption of this resolution to be pub- lished, said publication providing notice of the public hearing before the Common Council on said declaration. SECTION V. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. pp Q 'm er of the Co m Council f i AENTED 3 - I a- & '1 NOT APPROVER ADOPTED 3- t a -a Li , cam,