HomeMy WebLinkAboutConfirming Tax Abatement - Toro South Bend Manufacturing 515 W. Ireland Rd. (10 Year Real Property)RESOLUTION
NO. 1943 -92
Passed by the Common Council of the City of South Bend, Indiana,
May 11,
19 92.
Attest: ��`� 4', "�` City Clerk
Presented by me to the Mayor of the City of South Bend, Indiana
May 12, 92
9
t of Common Council.
City Clerk
Approved and signed by me_ ✓�`- 19 V�
Mayor
RESOLUTION NO.
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN
AS TORO SOUTH BEND MFG., 515 W. IRELAND RD., SOUTH BEND,
IN 46614
TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES
OF A (10) YEAR REAL PROPERTY TAX ABATEMENT FOR
Toro South Bend Manufacturing
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 515 W. Ireland Rd. and which is more
particularly described as follows:
SE 1/4, NE 1/4 except SE and NE Corners
Section 26- 37 -2E, 26,592 acres.
with said real estate having the following Key No. 23 -1013-
0758, 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 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 Ten 10 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 seq.
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 of W6 Common Council
NOT APPROft
7UYOPTED _��_ 9
Filed in