HomeMy WebLinkAboutNo. 2451 approving an application for real property tax deduction (Old Fort Building Supply)RESOLUTION NO. 2451
A RESOLUTION APPROVING AN APPLICATION FOR
REAL PROPERTY TAX DEDUCTION
WHEREAS, LC. 6-1.1-12.1-2(1) provides that an application for property tax deduction may
not be approved when the property is located in an allocation area as defined in I.C. 36-7-14-39,
unless the Redevelopment Commission which designated that allocation area adopts a resolution
approving that application; and
WI IEREAS, the South Bend Common Council has received a petition for five (5) years of
real property tax abatement consideration from ls` Source Land Trust #13 (Robert F. Jagger) d/b/a
Old fort Building Supply of South Bend, Inc. for real property located at 1401 South Main Street in
the Airport I~COn01111C Development Area, the legal description of which is attached hereto, marked
Exhibit "A" and incorporated herein; and
WHEREAS, this Commission declared the Airport Economic Development Area by
Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport
Economic Development Allocation Area, Allocation Area No. 1; and
WHEREAS, the property located at 1401 South Main Street is located within the Airport
Economic Development Allocation Area, Allocation Area No. 1.
WHF,REAS, the property located at 1401 South Main Street is located within the Urban
Enterprise Zone;
WHEREAS, the property located at 1401 South Main Street is located within the Economic
Development Target Area;
NOW, THF,RIFORE, BF, IT RESOLVED by the South Bend Redevelopment Commission
as follows:
1) The Commission rinds that the application from 1st Source Land Trust #13 (Robert F.
Jagger) d/b/a Old fort Building Supply of South Bend, Inc. for five (5) years of real property tax
abatement consideration for property located at 1401 South Main Street in the Airport Economic
Development Allocation Area, Allocation Area No. 1, should be and is hereby approved.
2) Should the company receive the Enterprise Zone Investment Deduction under LC. 6-1.1-
56for the same property, this Tax Abatement designation shall become null and void. The Company
may not receive an economic revitalization area deduction if it receives an enterprise zone
investment deduction under 1.C. 6-1.1-45 for the same property.
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3) That a copy of this resolution be forwarded to the South Bend Common Council to
indicate the Commission's approval of the petition for real property tax abatement for 1St Source
Land Trust #13 (Robert F. Jagger) d/b/a Old fort Building Supply of South Bend, Incorporated.
Approved this 2nd day of May, 2008, at the regular meeting of the South Bend
Redevelopment Commission.
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SOUTH BEND REDEVELOPMENT COMMISSION
EXHIBIT A
LEGAL DESCRIPTION
Description: Lot 2 Studcbalcer Corridor 5`~ Minor Sub
Tax Kcy No.: 018-8005-0230
Address: 1401 S. Main Street
South I3cnd, IN 46613
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