16-86 South Bend Ethanol Non Compliance

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RESOLUTION NO. A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, APPROVING A WAIVER OF NONCOMPLIANCE FOR LATE -FILED SCHEDULE OF DEDUCTION FROM ASSESSED VALUATION PERSONAL PROPERTY IN ECONOMIC REVITALIZATION AREA (FORM 103 -ERA) AND COMPLIANCE WITH STATEMENT OF BENEFITS PERSONAL PROPERTY (FORM CF -1 / PP) BY NOBLE AMERICAS SOUTH BEND ETHANOL LLC FOR CERTAIN PERSONAL PROPERTY LOCATED AT 3201 WEST CALVERT STREET DESIGNATED AS AN ECONOMIC REVITALIZATION AREA UNDER RESOLUTION 4332 -14 WHEREAS, the Common Council of the City of South Bend, Indiana (the "Common Council ") at its meeting held on April 14, 2014 adopted its Confirming Resolution 4340 -14 (the "Confirming Resolution ") confirming the designation of a certain area within the City of South Bend, Indiana (the "City ") commonly known as 3201 West Calvert Street, South Bend, Indiana (the "Subject Property ") pursuant to Indiana Code 6- 1.1 -12.1 (the "Act "), as an Economic Revitalization Area for the purposes of granting an five (5) year tax abatement for personal property to Noble Americas South Bend Ethanol LLC (the "Company "); and WHEREAS, the Subject Property is more particularly described as follows: Vac Sunset Pk SE' /4 Ex Pt Sold to City S & Adj & Mid Pt S1 /2E of Rr Cont 61.834 Ac +- Sec 16 -37 -2e WHEREAS, the Common Council determined that the Company qualified for and the Common Council granted a personal property tax abatement for a period of five (5) years for qualifying personal property placed in service at the Subject Property as provided in the alternate abatement schedule pursuant to the Section 17 of the Act set forth below: Personal Property Year Abatement 1 100% 2 80% 3 60% 4 40% 5 20% WHEREAS, the Company purchased and placed in service personal property at the Subject Property that qualified for personal property tax abatement for the March 1, 2015 assessment year pursuant to the Confirming Resolution; and US.106317781.01 I \10600916.2