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REGULAR MEETINGJULY 11, 2005 <br />PARCEL 1: A lot or parcel of Land in the City of South Bend, located in the East Half <br />of the Northeast Quarter of Section Number Ten (10), Township Number Thirty-seven <br />(37) North, Range Number Two (2) East, bounded by a line running as follows, viz: <br />Beginning at a point in the South Line of West Washington Avenue 7.58 feet West from <br />a point where the West line of College Street extended South would intersect the South <br />line of said West Washington Avenue thence South 208 feet; thence West 395.87 feet; <br />thence North 208 feet to the South Line of Washington Avenue, thence East along the <br />South line of Washington Avenue a distance of 395.87 feet to the place of beginning. <br />PARCEL 2: Also, beginning at a point in the South line of West Washington Avenue <br />7.58 feet West from a point where the West line of College Street extended South would <br />intersect the South line of Washington Avenue and being at the Northeast corner of the <br />above described tract; thence South along the East line of the above described tract 293.6 <br />feet to an iron stake; thence East 19.69 feet, more or less, to the Southwest corner of a <br />tract of land conveyed to the South Bend Wholesale Drug Company by deed recorded in <br />Deed Record 333 page 336; thence North 293.6 feet, more or less, to a point in the South <br />line of West Washington Avenue 20 fee East of the place of beginning; thence West 20 <br />feet to the place of beginning, subject, however, to a perpetual easement of right of way <br />in common with the Grantees at all times and for all purposes over the following real <br />estate for the use and benefit of the South Bend Drug Co., Inc.: A part of the East Half <br />(1/2) of the Northeast Quarter (1/4) of Section Ten (10), Township Thirty-seven (37) <br />North, Range Two (2) East, described as follows: Beginning at a point on the South line <br />of Washington Avenue which is 389.87 feet West of a point which is 7.58 feet West from <br />the West line of College Street extended South to the South line of Washington Avenue; <br />thence due South 133.5 feet; thence Easterly 321.3 feet to a point 130.3 feet due South <br />from the South line of Washington Avenue; thence in a Southeasterly direction 102 feet <br />to an iron stake, which iron state is 208 feet due South from Washington Avenue; thence <br />North 46.2 feet; thence in a Northwesterly direction 80.3 feet to a point 100.3 feet due <br />South from the South line of Washington Avenue; thence Westerly 305.6 feet to a point <br />due South 103.5 feet from the South line of Washington Avenue, thence North 103.5 feet <br />to a point on the South line of Washington Avenue which is 30 feet East of the place of <br />beginning, thence West 30 feet to the place of beginning; <br />and which has Key Numbers18-2001-0002 and 18-2001-0005, be designated as an <br />economic revitalization area under the provisions of Indiana Code 6-1.1-12.1 et seq., and <br />South Bend Municipal Code Sections 2-76 et seq., and; <br />WHEREAS, the Department of Community and Economic Development has concluded <br />an investigation and prepared a report with information sufficient for the Common <br />Council to determine that the area qualifies as an Economic Revitalization Area under <br />Indiana Code 6-1.1-12.1, et seq., and South Bend Municipal Code Sections 2-76, et seq., <br />and has further prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br />WHEREAS, the Community and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area <br />qualifies as an Economic Revitalization Area. <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 determines and finds that the Petition for <br />Real Property Tax Abatement and the Statement of Benefits form completed by the <br />Petitioner meet the requirements of Indiana Code 6-1.1-12.1 et seq., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds the following: <br />A. That the description of the proposed redevelopment or rehabilitation meets the <br />applicable standards for such development. <br />B. That the estimate of the value of the redevelopment or rehabilitation is reasonable <br />for projects of this nature; <br />7 <br /> <br />