HomeMy WebLinkAbout4781-19 Catalyst Three Confirming Real Property Tax Abatement RESOLUTION
No. 4781-19
Passed by the Common Council of the City of South Bend, Indiana
April 22, 20 19
Attest: / L City Clerk
Karee l. • : owter
Attest* - President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
April 22, 19
20 .
/ 117. City Clerk
Kareemah N. Fowler
Approved and signed by me PIA(
1 ' 4 1 20
United States of America
•
: : RECEIVED APR 2 6 2019
ST.JOSEPH COUNT(
JOSEPH
ertificate ASSESSOR
STATE OF INDIANA, COUNTY OF ST. JOSEPH, ss:
I, Kareemah Fowler, Clerk of the City of South Bend, County of St. Joseph, Indiana, hereby
certify that the attached and foregoing is a full,true, and correct copy of
RESOLUTION 4781-19
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS IGNITION PARK,
SOUTH BEND, IN 46601 AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF AN EIGHT (8) YEAR REAL PROPERTY TAX ABATEMENT
FOR CATALYST THREE, LLC
ADOPTED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
INDIANA, APRIL 22, 2019.
PRESENTED TO, APPROVED AND SIGNED BY MAYOR PETE BUTTIGIEG,
APRIL 24, 2019.
ATTEST: TIM SCOTT, PRESIDENT OF THE COMMON COUNCIL
ATTEST: KAREEMAH N. FOWLER, CITY CLERK
the original of which is now on file in the office of the Clerk of the City of South Bend, St. Joseph
County, Indiana.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official Seal of the City
of South Bend, St. Joseph County, Indiana, this c-9 day of j 20
Kareemah Fowler
Clerk of the City of South Bend
St. Joseph County, Indiana
By:
LMMZ.1
Deputy
BILL NO. 19-27
RESOLUTION NO. 4781-19
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
Ignition Park, South Bend, IN 46601
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF AN EIGHT (8) YEAR REAL
PROPERTY TAX ABATEMENT FOR
Catalyst Three, LLC
WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a
Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas
for the purpose of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area commonly known as the
Ignition Park, South Bend, Indiana, and which is more particularly described as follows:
Lot 3 Ignitions Park Minor Sub #1 1 S/16NP#11010 10-28-2014
and which has Key Number 018-8021-084916 be designated as an Economic Revitalization Area;
and
WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing
before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and
WHEREAS, the Council held a public hearing for the purposes of hearing all
remonstrances and objections from interested persons; and
WHEREAS, the Council has determined that the qualifications for an economic
revitalization area have been met.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the
area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such
designation is for Real property tax abatement only and is limited to three (3) calendar years from
the date of adoption of the Declaratory Resolution by the Common Council.
SECTION II. The Common Council hereby determines that the property owner is qualified for
and is granted Real property tax deduction for up to a period of eight (8) years as shown by the
schedule outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17 and
further determines that the petition, the Memorandum of Agreement between the Petitioner and
the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the
Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq.
Year 1 - 100%
Year 2 - 100%
Year 3 - 100%
Year 4 - 100%
Year 5 - 95%
Year 6 - 90%
Year 7— 80%
Year 8 — 70%
SECTION III. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approved by the Mayor.
Tim Scott, Co ori
South Bend Common Council
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