HomeMy WebLinkAboutNo. 0699 approving an application for real property tax deduction (1st Source Bank, Land Trust No. 30560, NW corner Colfax and Michigan Sts.)RESOLUTION NO. 699
A RESOLUTION APPROVING AN APPLICATION
FOR REAL 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 real property tax abatement consideration from 1st
Source Bank as Trustee of Land Trust No. 30560 for real property
tax abatement consideration for the property located at the
Northwest corner of Colfax and Michigan Street of the Downtown
Urban Renewal Area R -66, the legal description which is attached
hereto, marked Exhibit "A" and incorporated herein; and
WHEREAS, this Commission declared the Downtown Urban Renewal
IL Area R -66 by Resolution No. 615, adopted June 6, 1980, and
declared Central Downtown Urban Renewal Allocation Area No. 1 by
Resolution No. 615 adopted June 6, 1980; and
WHEREAS, the Commission expanded and redeclared the Central
Downtown Urban Renewal Area by Resolution No. 690, adopted
October 14, 1983, and therein declared Amended Allocation Area
No. 1; and
WHEREAS, property located at the Northwest corner of Colfax
and Michigan Street is located within the Central Downtown Urban
Renewal Amended Allocation Area No. 1.
NOW, THEREFORE, BE IT RESOLVED by the South Bend
Redevelopment Commission as follows:
1.) The Commission finds that the application of 1st Source
Bank as Trustee of Land Trust No. 30560 for real property tax
abatement consideration for real property tax abatement on
property located at the Northwest corner of Colfax and Michigan
Street in the Central Downtown Urban Renewal Amended 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 Commission approval of
lst Source Bank petition for real property tax abatement.
Approved this 24th day of February, 1984, at the regularly
scheduled meeting of the South Bend Redevelopment commission.
SOUTH BEND REDEVELOPMENT COMMISSION
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