HomeMy WebLinkAboutConfirming Tax Abatement - Aledo Company, LLC / O-T-D Corporation 3722 Foundation Ct. (5 Year Real Property)RESOLUTION
NO. 2037 -93
Passed by the Common Council of the City of South Bend, Indiana
Attest
April 26,
93
0 City Clerk
Presented by me to the Mayor of the City of South Bend,I
April
Approved and signed by me
27, 93
9
of Common Council.
City Clerk
Mayor
RESOLUTION NO. 2Z 3 7- 912
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 THREE (3) YEAR
REAL PROPERTY TAX ABATEMENT FOR
ALEDO COMPANY, L.LC. (OWNER)
O-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 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 Three (3) 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 eq.
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.
Member o e Common Council
(Revised 11/26/90) - < -
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PRESENTED
NOT APPROVED
/ -2G -93
ADOPTED
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