HomeMy WebLinkAboutConfirming Tax Abatement - Eaton Corporation 2930 Foundation Dr. (5 Year Personal Property)RESOLUTION
NO. 1977 -92
Passed by the Common Council of the City of South Bend,
October
26,
Attest: ' °" '
9 92
Clerk
Attest:- 1 " _ 0 12- ��President of Common Council.
Presented by me to the Mayor of the City of South Bend,
October 28, 92
19
City Clerk
Approved and signed by me_ -- 1��111_u`�"'s'°�(�La 19 `!!.-�
Mayor
RESOLUTION NO. Z9 77- 9,�
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
2930 FOUNDATION DRIVE
TO BE AN ECONOMIC
REVITALIZATION AREA FOR PURPOSES OF A FIVE -YEAR
PERSONAL PROPERTY TAX ABATEMENT FOR
EATON 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 2930
Foundation Drive, South Bend, Indiana and which is more particularly described
as follows:
See Exhibit A
with said real estate having the following Key No. 25 -1010- 038101 , as an
Economic Revitalization Area; and
WHEREAS, a notice of the adoption of a Declaratory Resolution and the public
hearing before the Council has been published pursuant to Indiana Code 6- 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 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 -12.1 et seo.
SECTION 111. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approval by the Mayor.
of
PRESENTE15
NOT APPROVED L
ADt)PT:D �Q oZ
in Clef s
SEE ' ! ;5;.