HomeMy WebLinkAboutConfirming Tax Abatement - SBCC Development Corp. 122 S. Michigan St. (6 Year Real Property)RESOLUTION
NO. 2560 -98
Passed by the Common Council of the City of South Bend, Indiana
February 23, 98
19
Clerk
President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
February 24, 19 98
Approved and signed by me NV / _ 19 ��
City Clerk
Mayor
RESOLUTION NO. �,50- 1 D
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY
OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
122 SOUTH MICHIGAN STREET
TO BE AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A SIX (6) YEAR REAL
PROPERTY TAX ABATEMENT FOR THE SOUTH BEND
REDEVELOPMENT COMMISSION FOR THE BENEFIT OF:
SBCC DEVELOPMENT 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 122 S.
Michigan Street and which is more particularly described as follows:
261/2 FT. N. SIDE LOT 43 O.P. SOUTH BEND
and which has Key Number 18- 3001- 0013.01, 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 1. 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 two (2) 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 a period of six (6) 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 sea.
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.
PRESENTED � -)3 -9g
NOT APPROVED
ADOPTED .2- )3 -9�
H:\WP\TAXABATE\ABATES98\SBCC2.RES
Member of the Common Council