HomeMy WebLinkAboutNo. 1763 approving an application for real property tax deduction (JVE Investment, LLC, The Tire Rack, Inc., 3851 Olive Rd.)RESOLUTION NO. 1763
A RESOLUTION APPROVING AN APPLICATION FOR
REAL 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 ten years of real
property tax abatement consideration from JVE Investment, LLC (The Tire Rack, Inc.) for real
property located at 3851 Olive 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 3 851 Olive 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 JVE Investment, LLC (The Tire Rack,
Inc.) for ten years of real property tax abatement consideration for property located at 3851 Olive
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 real property tax abatement for JVE
Investment, LLC (The Tire Rack, Inc.).
Approved this 2nd day of June 2000 at the regular meeting of the South Bend
Redevelopment Commission.
SOUTH BEND REDEVELOPMENTCOMMISSION
Robert W. Hunt, President
ATTEST:
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Marcia I Jones, Vice President
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Exhibit A
Legal Description of Kidder Property Purchased by The Tire Rack, Inc.
City Legal Description:
Key Number: 21- 1037 -0594 - N 1/2 NE EX 28 AC W END
25 381E
52 AC
EE SE 24 -38 -1E 40 AC
Key Number: 25 -1011 -0186 - W SIDE SW 1/4 65.40 AC & SW NW 1/4
SOUTH OF TOLL RD 1.5 AC M OR L
SEC 19 38 2E