02-11-08 Council Meeting Agenda & Packet

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RESOLUTION NO. A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS THE OLD TARGET STORE RETAIL COMPLEX LOCATED ON THE NORTH SIDE OF MCKINLEY AVENUE JUST WEST OF HICKORY Ft UM, 1 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN (10) TEN -YEAR REAL PROPERTY TAX ABATEMENT FOR MCKINLEY APARTMENTS HOUSING PARTNERS, LP WHEREAS, a petition for real property tax abatement has been filed with the. City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as known the old Target Store Retail Complex located on the north side of McKinley Avenue and west of Hickory Road, South Bend, Indiana, and which is more particularly described as follows: ALL THAT TRACT OR PARCEL OF LAND lying and being in the southeast quarter of Section 5, Township 37 North Range 3 East, in the City of South Bend, St. Joseph County, Indiana, more particularly described as follows: COMMENCING at the southeast corner of said southeast quarter of Section 5; thence North 00'02'06" East along the East line of said southeast quarter, a distance of 726.00 feet to a point; thence run North 89 °28'22" West a distance of 40.00 feet to a point; thence run North 89° 28' 22" West, a distance of 648.65 feet to a point, the POINT OF BEGINNING; thence run South 00'01'12" West, a distance of 686.02 feet to a point; thence run North 89° 28' 28" West, a distance of 525.01 feet to the east line of McKinley Terrace Addition; thence run North 00 °00'00" East, along said east line of said McKinley Terrace Addition a distance of 1411.91 feet to a point and the south line of McKinley Terrace Addition, Section "A "; thence run South 89 °31'54" East along said south line of McKinley Terrace Addition, Section "A ", a distance of 443.34 feet to a point; thence run South 00'01'12" West, a distance of 404.56 feet to a point; thence run North 89° 28' 22" West a distance of 9.11 feet to a point; thence run South 00 °24`33" West a distance of 261.23 feet to a point; thence run South 89'28'12" East a distance of 10.89 feet to a point; thence run South 00'01'12" West a distance of 60.53 feet to a point; thence run South 89° 28' 22" East a distance of 82.17 feet to a point, the POINT OF BEGINNING. Said tract being 15.60 acres more or less. and which has Key Number 18 -5201 -7736 at this point and time, be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6 -1.1 -12.1 et seq., and South Bend Municipal Code Sections 2 -76 et seq., and;