HomeMy WebLinkAboutNo. 0856 approving an application for real and personal property tax deduction (Allied Products Corp., 601 W. Broadway St.)RESOLUTION NO. 856
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 six years of real property and five years of personal
property tax abatement consideration from Allied Products
Corporation for real and personal property located at 601 W.
Broadway 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 601 W. Broadway Street is
located within the Studebaker Corridor Allocation Area (South Bend
Allocation Area No. 6); and
WHEREAS, the Redevelopment Commission adopted Resolution
No. 854 on August 12, 1988, approving three years of real property
and five years of personal property tax abatement; and
WHEREAS, the South Bend Common Council has indicated its
intent to approve six years of real property tax abatement as well
as the five years of. personal property tax abatement; and
WHEREAS, it is necessary for the Redevelopment Commission
to amend Resolution No. 854 in order to approve six years of real
property tax abatement.
NOW, THEREFORE, BE IT RESOLVED by the South Bend
Redevelopment Commission as follows:
1.) The Commission finds that the application of
Allied Products Corporation for six years of real
property and five years of personal property tax
abatement consideration for property located at 601 W.
Broadway Street in the Studebaker Corridor Allocation
Area (South Bend Allocation Area No. 6) is hereby
approved and Resolution No. 854 is hereby amended.
2.) That a copy of this resolution be forwarded
to the South Bend Common Council to indicate the
Commission's approval of the Allied Products
Corporation petition for real and personal property tax
abatement.
Approved this 26th day of August, 1988, at the regularly
scheduled meeting of the South Bend Redevelopment Commission.
SOUTH BEND REDEVELOPMENT COMMISSION
, Pres7-Qent
ATTEST:
lawk
V
Roman Piasecki, Secretary
2 /h.