04-23-12 Council Agenda & Packet

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3. A review of the South Bend Redevelopment designation areas finds that the property is located in the Airport Economic Development Area,which is a Tax Incremental Allocation Area; therefore, the petitions for personal property and real property must first be approved by the South Bend Redevelopment Commission. 4. A review of the South Bend Urban Enterprise Zone finds that the property is located in the Zone Area; therefore, it is recommended that should the company receive the UEZ designation,the 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 I.C. 6-1.1 - 45 for the same property. 5. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications for a (5) five-year personal property tax abatement under section 2-84.2, Tangible Personal Property Tax Abatement. The real property project will qualify for a four or five year property tax abatement pending further information on the contractors.