HomeMy WebLinkAboutConfirming Tax Abatement - O-T-D Corporation 3722 Foundation Ct. (5 Year Personal Property)RESOLUTION
NO. 2621 -98
Passed by the Common Council of the City of South Bend. Indiana
May 11, 98
19
Presented by me to the Mayor of the City of South Bend.
May 12, 19 98
Approved and signed by me
May 13,
•k
of Common Council.
City Clerk
M
Mayor
RESOLUTION NO. � W-) - l b
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
3722 Foundation Court
South Bend, Indiana 46628
TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
O -T -D Corporation
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 3722 Foundation Court
and which is more particularly described as follows:
LOT NUMBERED TWO (2) AS SHOWN ON THE RECORDED PLAT OF METRO- ALEDO
MINOR SUBDIVISION, RECORDED OCTOBER 31, 1994 IN THE OFFICE OF THE RECORDER OF ST.
JOSEPH COUNTY, INDIANA, AS INSTRUMENT NO. 9440809, SITUATED IN ST. JOSEPH COUNTY,
STATE OF INDIANA.
and which has Key Number 25 -1010- 040018, 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 Personal
property tax abatement only and is limited to two (2) calendar years from the date of adoption of the
Declaratory Resolution by the Common Council.
SECTION 11. The Common Council hereby determines that the property owner is qualified for and is granted
Personal property tax deduction for a period of five (5) years, and further determines that the petition complies
with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et se q.
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.
Member of the Common Council
PKESENTFD 5 -1 � - 1 O
r,OT APPROVED
ADOarEO 5- I I -� 8