03-15-82 Council Meeting Minutes

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REGULAR MEETING MARCH 15, 1982 RESOLUTIONS RESOLUTION NO. 947 -82 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATING 404 W. SAMPLE AN URBAN DEVELOPMENT AREA FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION. WHEREAS, a petition for Personal Property Tax abatement consideration has been filed with the Common Council of the City of South Bend pursuant to Section 2 -76 of the Municipal Code for the tangible personal property to be located at 404 West Sample Street, SouthBend, Indiana. WHEREAS, the legal description of the facility in which the tangible personal property is to be located, is more particularly described by a line drawn as follows: A parcel of land being a part of the Northest Quarter of Section 14, Township 37, North, Range 2 East of the Second Principal Meridan and being more particularly described as follows, viz: Beginning at a point 1200.01 feet South 890- 51' -46" East of the Northwest corner of Tract No. 4 of the Studebaker Corporation Replat as recorded in Plat Book 11, page 184, in the office of the Recorder of St. Joseph County, Indiana, said point being on the North Line of said Tract No. 4, which North Line is also the South right -of -way line on Sample Street; thence South 00- 21' -18" East along the projection of a wall line and along said wall line a distance of 421.71 feet to an angle point; thence South 270- 52' -38" East, along a wall line a distance of 27.07 feet to an angle point; thence North 890- 38' -42" East, along a wall line a distance of 132 -73 feet to a point 96.19 feet South 890- 38' -42" West of the West right -of -way line of Franklin Street; thence South 00- 21' -55" East, parallel with the West right -of -way line of Franklin Street, a distance of 160.27 feet to a point 96.18 feet South 890- 55' -21" West of said West right -of -way of Frankline Street; thence north 890- 55' -21" East, a distance of 96.18 feet to said West right -of -way line; thence North 00- 21' -55" West, along said West right -of -way line, a distance of 604.93 feet to said South right -of -way line of Sample Street; thence North 890- 51' -46" West, along South right -of -way line, a distance of 241.64 feet to the place of beginning. Containing 122, 848.47 square feet (2.81 acres) more or less. WHEREAS, the Redevelopment Commission has conducted an investigation pursuant to Section 2 -77 of the Municipal Code and prepared a report determining that there is compliance with the Statutory obsolescence and eligibility criteria under Indiana Code 6- 1.1- 12.1 -1 et seq. WHEREAS, the Human Resources and Economic Development Committee of the Common Council has reviewd said report and recommended to the Common Council that the area qualifies as an Urban Development Area, and that the tangible personal property to be located at such location is entitled to a deducation from the assessed value of the equipment for a period of five (5) years. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Urban Development Area, and that the tangible personal property to be located at such location is entitled to a deduction from the assessed value of the equipment for a period of five years (5) years. SECTION II. The Common Council hereby adopts a resolution designating this area as an Urban Development Area for purposes of personal property tax abatement. SECTION III. The Common Council requests the City Clerk to submit this Resolution along with the supporting data to the Area Plan Commission for its written order approving or disapproving this Resolution. SECTION IV. The Common Council directs the City Clerk, upon the receipt of the report of the Area Plan Commission to cause notice of the adoption of this Resolution to be published. Said publication shall provide notice of the public hearing before the Common Council of said declaration. SECTION IV. This Resolution shall be in full force and effect rom and after its adoption by the Common Council and approval by the Mayor. s/ Lewis A. McGann Member of the Common Council A public hearing was held on the resolution at this time. Council Member Voorde indicated this resolution was considered in Committee and was given a favorable recommendati He indicated this was the first property tax abatement petition filed, and it is for South Bend Toy. Council Member Szymkowiak made a motion to adopt this resolution, seconded by Council Member Taylor. The resolution was adopted by a roll call vote eight ayes.