HomeMy WebLinkAboutNo. 1150 approving an application for personal property tax deduction (O-T-D Corporation, 3722 Foundation Ct.)RESOLUTION NO. 1150
A RESOLUTION APPROVING AN APPLICATION FOR
PERSONAL PROPERTY TAX DEDUCTION
WHEREAS, I.C. 6 -1.1- 12.1 -2(j) provides that an application for
personal 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 O -T -D Corporation for personal property located at 3722
Foundation Court 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 Area, Allocation Area No. 1; and
WHEREAS, the property located at 3722 Foundation Court 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 0-T -D
Corporation for five years of personal property tax abatement
consideration for property located at 3722 Foundation Court in the
Airport Economic Development Area, Allocation Area No. 1, is hereby
approved.
2) That a copy of this resolution be forwarded to the South
Bend Common Council to indicate the Commissions approval of the
petition for personal property tax abatement for O -T -D Corporation.
Approved this 2nd day of April, 1993, at the regularly
scheduled meeting of the South Bend Redevelopment Commission.
SOUTH BEND REDEVELOPMENT COMMISSION
Paula N. Auburn, President
ATTEST:
- A4,
Theo F. Sharp, Secreta3*
Res1150
I .*4 of I 1 :1 M
Legal Description
5.72 acres, irregular tract South side Foundation Court
beginning 318.73 feet East and 528.34 feet North of South West
corner South East quarter being lot 6 -5; Airport Industrial
Park, phase 3, Section 28- 38 -2E.