Designating Tax Abatement - Colfax Hill Partners LLC 525 E. Colfax Ave. (8 Year Real Property)

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RESOLUTION NO. H 3 I° 2— 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 525 East Colfax Avenue AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN EIGHT (8) YEAR REAL PROPERTY TAX ABATEMENT FOR COLFAX HILL PARTNERS, LLC 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 located at 525 East Colfax Avenue which is more particularly described as: Lots 89 -90 55 Ft W End Ea O P Lowell and Lot 89 44'N Side Ex 55' W End O P Lowell and 110 Ft E End Lot 90 22X110 Ft S Side E End Lot 89 O P Lowell And which has Key Numbers 018 -5005 -0128, 018 -5005 -0129, and 018 -5005 -0130 presently at this point in 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; WHEREAS, petitioner has agreed to and has accepted responsibility to report any changes in the final legal description and to report the final, appropriate Key Number to the Department of Community Investment and to the Office of the City Clerk; 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