No. 2255 approving an application for personal property tax deduction (PEI-Genesis 4747 W Cleveland Rd)

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! • RESOLUTION NO. 2255 A RESOLUTION APPROVING AN APPLICATION FOR PERSONAL PROPERTY TAX DEDUCTION WHEREAS, I.C. 6-1.1-12.1-2(1) provides that an application for property tax deduction may not be approved when the property is located in an allocation area as defined in I.C. 36-7-14-39, unless the Redevelopment Commission which designated that allocation area adopts a resolution approving that application; and WHEREAS, the South Bend Common Council has received a petition for five (5) years of personal property tax abatement consideration from PEI-Genesis, Inc., for personal property located at 4747 West Cleveland Road in the Airport Economic Development Area, the legal description of which is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Airport Economic Development Area by Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport Economic Development Allocation Area, Allocation Area No. 1; and WHEREAS, the property located at 4747 West Cleveland Road is located within the Airport Economic Development Allocation Area, Allocation Area No. 1. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1) The Commission finds that the application from PEI-Genesis, Inc., for five (5) years of personal • property tax abatement consideration for properties located at 4747 West Cleveland Road in the Airport Economic Development Allocation Area, Allocation Area No. 1, should be and is hereby approved. 2) That a copy of this resolution be forwarded to the South Bend Common Council to indicate the Commission's approval of the petition for personal property tax abatement for PEI-Genesis, Inc. Approved this 23rd day of June 2006 at the regularly scheduled meeting of the South Bend Redevelopment Commission. S UTH BEND REDEVELOPMENT COMMISSION Marcia I. Jones, P es'dent .7