Designating Tax Abatement - Basin, Royal Street , Charles Street, Canal Blvd., - Tampico Developments, LLC

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NUMBERS 9516217 AND 9236154, RESPECTNELY, IN THE OFFICE OF SAID RECORDER, A DISTANCE OF 750.68 FEET TO THE WEST LINE OF SAID'NORTHWEST QUARTER; THENCE NORTH 00 DEGREES 16 MINUTES 29 SECONDS WEST ALONG SAID WEST LINE, A DISTANCE OF 625.15 FEET TO THE POINT OF BEGINNING; SAID DESCRIBED PARCEL CONTAINING 10.791 ACRES, MORE OR LESS; SUBJECT TO ANY EASEMENTS, COVENANTS, RESTRICTIONS, AND RIGHTS OF WAY OF RECORD. LEGAL DESCRIPTION HEREIN PREPARED BY THOMAS A. OESTERLING, REGISTERED LAND SURVEYOR, INDIANA LICENSE NUMBER 11462, EMPLOYED BY ABONMARCHE CONSULTANTS OF INDIANA, LLC, FOR TAMPICO DEVELOPMENTS, L.L.C,, ON APRIL 14, 2008. LINE BEARING DATUM DESCRIBED HEREIN BEING RELATNE TO SAID STAFFORDSHIRE ESTATES, SECTION TWO SUBDNISION. and these 31 lots do not yet have individual key numbers but are part of Tax ID Number 26- 1035-0589.02, be designated as a Residentially Distressed Area under the provisions of Indiana Code 6-1.1-12.1 et sea., and South Bend Municipal Code Sections 2-76 et seq., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepazed a report with information sufficient for the Common Council to determine that the area qualifies as a Residentially Distressed Area under Indiana Code 6-1.1- 12.1, et secy., and South Bend Municipal Code Sections 2-76, et sect., and has further prepazed maps and plats showing the boundaries and such other information regarding the area in question as required bylaw; and WHEREAS, the Community and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as a Residentially Distressed 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 tax abatement and the Statement of Benefits form meet the requirements of Indiana Code 6-1.1-12.1 et sea., for tax abatement. SECTION II. The Common Council hereby determines and finds that the azea meets one of the following conditions as formally established in Ordinance No. 9394-03, which was passed on February 10, 2003: A. The area is comprised of pazcels that are either unimproved or contain only one (1) or two (2) family dwellings designed for up to four (4) families, including accessory buildings for those dwellings; or 2