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NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana, as follows:
<br />SECTION I. The Common Council hereby confirms its Declaratory Resolution designating
<br />the area described herein as an Economic Revitalization Area for the purposes of tax
<br />abatement. Such designation is for Personal property tax abatement only and is
<br />limited to two (2) calendar years from the date of adoption of the Declaratory
<br />Resolution by the Common Council.
<br />SECTION II. The Common Council hereby determines that the property owner is
<br />qualified for and is granted Personal property tax deduction for a period of five (5)
<br />years, and further determines that the petition complies with Chapter 2, Article 6,
<br />of the Municipal Code of the City of South Bend and Indiana Code 6 -1.1 -12.1 et seg.
<br />SECTION III. This Resolution shall be in full force and effect from and after its
<br />adoption by the Common Council and approval by the Mayor.
<br />/s /Eugene Ladewski
<br />Member of the Common Council
<br />RESOLUTION NO. 2301 -95 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
<br />RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
<br />SOUTH BEND COMMONLY KNOWN AS 1545 SOUTH OLIVE, SOUTH BEND,
<br />INDIANA, TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES
<br />OF A TEN -YEAR REAL PROPERTY TAX ABATEMENT FOR INTERPLASTIC
<br />CORPORATION - MOLDING PRODUCTS DIVISION
<br />WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a
<br />Declaratory Resolution designating certain areas within the City as Economic
<br />Revitalization Areas for the purpose of tax abatement consideration; and
<br />WHEREAS, a Declaratory Resolution designated the area commonly known as 1545 South
<br />Olive, South Bend IN, and which is particularly described as follows:
<br />A part of the Southeast Quarter of the Northwest Quarter and a part of the
<br />Northeast Quarter of the Southwest Quarter all in Section 15, Township 37 North,
<br />Range 2 East, City of South Bend, St. Joseph County, Indiana more particularly
<br />described as follows: Commencing at the center of said Section 15, thence South
<br />along the North -South centerline of said Section 15, 85.69 feet; thence South
<br />89 52100" West, 30.00 feet to the West line of Olive Street, said point being
<br />the true place of beginning; thence continuing South 89 52100" West, 370.00
<br />feet; thence north 00 00100" East, 77.56 feet to a point which is 25 feet
<br />Southeasterly, by radial measurement from the centerline of the New Jersey,
<br />Indiana & Illinois Railroad Company's "Studebaker Spur" and known also as ICC
<br />Tract No. 77; thence Northeasterly on a curve to the left having a radius of
<br />844.02 feet and parallel to and 25 feet Southeasterly by radial measurement from
<br />the centerline of said track, through a central angle of 17 2110011, a chord
<br />distance of 254.61 feet which bears North 64 20157" East, an arc distance of
<br />255.58 feet to the point of said curve; thence North 55 45148" East, parallel
<br />and 25 feet South of the centerline of said ICC Track No. 77,42.66 feet; thence
<br />North 89 52'00" East, 105.64 feet to a point on the West line of Olive Street;
<br />thence South 00 00'00" West along said West line 210.00 feet to the place of
<br />beginning.
<br />with said real estate having the following Key No. 18 552 46644 an Economic
<br />Revitalization Area; and
<br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing
<br />before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and
<br />WHEREAS, the Council held a public hearing for the purposes of hearing all
<br />remonstrances and objections from interested persons; and
<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 Bend,
<br />Indiana, as follows:
<br />SECTION I. The Common Council hereby confirms its Declaratory Resolution designating
<br />the area described herein as an Economic Revitalization Area for the purposes of tax
<br />abatement. Such designation is for Real property tax abatement only and is limited
<br />to two (2) calendar years from the date of adoption of the Declaratory Resolution by
<br />the Common Council.
<br />SECTION II. The Common Council hereby determines that the property owner is
<br />qualified for and is granted Real property tax deduction for a period of ten (10)
<br />years, and further determines that the petition complies with Chapter 2, Article 6,
<br />of the Municipal Code of the City of South Bend and Indiana Code 6 -1.1 -12.1 et seg.
<br />SECTION III. This Resolution shall be in full force and effect from and after its
<br />adoption by the Common Council and approval by the Mayor.
<br />/s /Eugene Ladewski
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Jack Alexander, 53260
<br />Juday Creek, president of Molding Products Division, made the presentation. He
<br />indicated they were expanding their facility and purchasing new equipment in order to
<br />be competitive. Council Member Coleman made a motion to adopt Resolution No. 2300-
<br />95, seconded by Council Member Zakrzewski. The resolution was adopted by a roll call
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