HomeMy WebLinkAboutNo. 0859 approving an application for real and personal property tax deduction (South Bend Lathe, Inc., 400 W. Sample St.)RESOLUTION NO. 859
A RESOLUTION APPROVING AN APPLICATION FOR
REAL AND PERSONAL PROPERTY TAX DEDUCTION
WHEREAS, I.C. 6- 1.1- 12.1 -2(j) 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 and five years of personal
property tax abatement consideration from South Bend Lathe, Inc.
for real and personal property located at 400 W. Sample Street in
the Studebaker Corridor Development Area, the legal description of
which is attached hereto, marked Exhibit "A" and incorporated
herein; and
WHEREAS, this Commission declared the Studebaker Corridor
Development Area by Resolution No. 762 adopted January 10, 1986 and
in the same resolution declared the Studebaker Corridor Allocation
Area (South Bend Allocation Area No. 6); and
WHEREAS, the property located at 400 W. Sample street is
located within the Studebaker Corridor Allocation Area (South Bend
Allocation Area No. 6);
NOW, THEREFORE, BE IT RESOLVED by the South Bend
Redevelopment Commission as follows:
1) The Commission finds that the application of
South Bend Lathe, Inc. for ten years of real property and
five years of personal property tax abatement
consideration for property located at 400 W. Sample St. in
the Studebaker Corridor Allocation Area (South Bend
Allocation Area No. 6) 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 South Bend Lathe, Inc. petition for real
and personal property tax abatement.
Approved this 14th day of October, 1988, at the regularly
scheduled meeting of the South Bend Redevelopment Commission.
SOUTH BEND REDEVELOPMENT COMMISSION
Paula N. Auburn, Vice President
ATTEST:
Roman Piasecki, Secretary
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