HomeMy WebLinkAboutNo. 2044 approving an application for personal property tax deduction (2629 Foundation Dr.)RESOLUTION NO. 2044
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 years of
personal property tax abatement consideration from Value Production, Inc. for personal property
located at 2629 Foundation Drive 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 2629 Foundation Drive is located within the Airport
Economic Development 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 Value Production, Inc. for five years
of personal property tax abatement consideration for property located at 2629 Foundation Drive
in the Airport Economic Development 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 Value
Production, Inc.
Approved this 6th day of February 2004 at the regularly scheduled meeting of the South Bend
Redevelopment Commission.
SOUTH BEND REDEVELOPMENT COMMISSION
Robert W. Hunt, President
ATTEST:
Marcia I. Jon ice President
H: \WPDATA \Tax Abatement\2004 \Value Production AEDA pp \RC Resolution 2044.wpd
14
ATTACHMENT "A"
Legal Description
2629 Foundation Drive
316.80'N & S x 450'E & W Beg 211.27'W & 1590.40N
SE Cor SW Sec 28 -38 -2E 3.27 Ac