No. 2262 approving an application for real property tax deduction (BLK dba Old Fort Building Supply 1401 S Main)

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RESOLUTION NO. 2262 A RESOLUTION APPROVING AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION WHEREAS, LC. G-1.1-12.1-2(1) provides that an application forpropertytax deduction may not be approved when the property is located in an allocation area as defined in LC. 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 (3) three years of real property tax abatement consideration from BLK, LLC, d/b/a Old Fort Building Supply for real property adj acent to 1401 South Main Street (a vacant lot) in the Sample-Ewing Development Area, the legal description of which is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Sample-Ewing Economic Development Area by Resolution No. 1222, adopted February 4, 1994, and in the same resolution declared the Sample- Ewing Economic Development Allocation Area, Allocation Area No. 8; and WHEREAS, the property adjacent to 1401 South Main Street (a vacant lot) is located within the Sample-Ewing Economic Development Allocation Area, Allocation Area No. 8; WHEREAS, the property adjacent to 1401 South Main Street (a vacant lot) is located within the Urban Enterprise Zone; WHEREAS, the property adjacent to 1401 South Main Street (a vacant lot) is located within the Economic Development Target Area; NOW. THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1) The Commission finds that the application from BLK, LLC, d/b/a Old Fort Building Supply for (~) three years of real property tax abatement consideration for property located adjacent to 1401 South Main Street (a vacant lot) in the Sample-Ewing Economic Development Allocation Area, Allocation Area No. 8, should be and is hereby approved. 2) Should the company receive the Enterprise Zone Investment Deduction under LC. 6-1.1- 56 for the same property, this Tax Abatement designation shall become null and void. The Company may not receive an economic revitalization area deduction if it receives an enterprise zone investment deduction under LC. 6-1.1-45 for the same property. t