4756-18 Nilkanth, LLC Designating Tax Abatement

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BILL NO. 18-64 RESOLUTION NO. 4756-18 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 4836 Western Ave, South Bend, IN 46619 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (7) SEVEN-YEAR REAL PROPERTY TAX ABATEMENT FOR Nilkanth, LLC WHEREAS, a petition for real property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that portions of the property located at 4836 Western Ave, South Bend, Indiana which is more particularly described as follows: Lot 2 Western & Summit Drive Minor Subdivision: THAT PART OF THE SOUTHEAST QUARTER OF SECTION 8, TOWNSHIP 37 NORTH, RANGE 2 EAST,PORTAGE TOWNSHIP, CITY OF SOUTH BEND, ST.JOSEPH COUNTY, INDIANA WHICH IS DESCRIBED AS: BEING A PORTION OF LOT # 1 IN THE PLAT OF "WESTERN B.K. MINOR SUBDIVISION" AS RECORDED BY DOCUMENT NO. 1512416 IN THE RECORDS OF THE ST. JOSEPH COUNTY, INDIANA RECORDER'S OFFICE AND MORE PARTICULARLY DESCRIBED AS: BEGINNING AT A POINT ON THE SOUTH RIGHT-OF-WAY LINE OF WESTERN AVENUE WHICH POINT IS SOUTH 89°56'49"WEST,A DISTANCE OF 60.00 FEET FROM THE NORTHWEST CORNER OF LOT # 2 IN SAID PLAT; THENCE SOUTH 00°37'39" EAST, A DISTANCE OF 25.00 FEET;THENCE NORTH 89°56'49"EAST,A DISTANCE OF 20.00 FEET;THENCE SOUTH 00°37'39" EAST, A DISTANCE OF 150.00 FEET; THENCE SOUTH 89°56'49" WEST,A DISTANCE OF 245.07 FEET; THENCE NORTH 00°38'45" WEST,A DISTANCE OF 175.00 FEET TO THE SOUTH RIGHT- OF-WAY LINE OF WESTERN AVENUE; THENCE NORTH 89°56'49" EAST ALONG SAID SOUTH LINE,A DISTANCE OF 225.14 FEET TO THE POINT OF BEGINNING. CONTAINING 0.97 ACRES MORE OR LESS. SUBJECT TO ALL LEGAL HIGHWAYS, EASEMENTS AND RESTRICTIONS OF RECORD and which has Key Number 018-4129-504422, and 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; WHEREAS,the Department of Community Investment has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6-1.1-12.1, et seq., and South Bend Municipal Code Sections 2-76, et seq., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS,the Community Investment Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for Real Property