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PRESENTED <br />NOT APPROVE4 <br />P,DOPTC;I <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby reconfirms its Declaratory Resolution designating <br />the area described herein as an Economic Revitalization Area for the purposes of tax abatement. <br />Such designation is for Personal property tax abatement only and is limited until February 15, <br />2015. The Common Council hereby confirms that Somaschini North America may assume the <br />tax abatement previously granted to South Bend Gear. <br />SECTION II. The Common Council hereby determines that the property owner is qualified for <br />and is granted Personal property tax deduction for a period of (5) five years, and further <br />determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the <br />City of South Bend and Indiana Code 6- 1.1 -12 et see <br />SECTION III This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approved by the Mayor. <br />() (-k 56 <br />Member of the Common Cou cil <br />Filed In Clork"s <br />7JA1`� i.�;•s. <br />JOHN Vpt7s M. <br />CITY CURK, 54U'i!i }iE Vlli, IN <br />