HomeMy WebLinkAboutConfirming Tax Abatement - Aledo Company LLC & O-T-D Corp. 3722 Foundation Ct. (6 Year Real Property)Attest
RESOLUTION
NO. 2397 -96
Passed by the Common Council of the City of South Bend, Indiana
August 26, 96
19
Clerk
Attest: U President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
August 27, 96
19
Approved and signed by me
City Clerk
Mayor
RESOLUTION NO._ aq: dab
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 SIX (6) YEAR REAL
PROPERTY TAX ABATEMENT FOR
ALEDO COMPANY, L.L.C. (OWNER)
0-T -D CORPORATION (LESSEE)
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, South Bend, Indiana 46628 and which is more
particularly described as follows:
5.72 acres, irregular tract South side Foundation Court beginning
318.73 feet East and 528.34 feet North of South West corner South
East quarter being lot 6-5; Airport Industrial Park, phase 3, Section
28- 38 -2E.
with said real estate having the following Key No. 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 objection 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 purposed 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 deductions 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 -12.1 et sea.
SECTION III. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approval by the Mayor.
PRESENTED -,,26 - ! (O
NOT APPROVED
ADOPTED 9-26-- 7P0
Member of the Common Council
Filed in Clerk's Office
FAUG 1 1996
LORETTAJ. DUDA
CRY r,LERR, SO. BEND. IN.