Designating Tax Abatement - Catalyst LLC Lot 7 Ignition Park Major Subdivision (7 Year Real Property)

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RESOLUTION NO. 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 Lot 7 Ignition Park Major Subdivision AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SEVEN (7) YEAR REAL PROPERTY TAX ABATEMENT FOR CATALYST, 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 Lot 7 Ignition Park Major Subdivision which is more particularly described as: A PART OF THE NORTHEAST QUARTER OF SECTION 14, TOWNSHIP 37 NORTH, RANGE 2 EAST PORTAGE TOWNSHIP, CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE POINT OF THE INTERSECTION OF THE WEST LINE OF FRANKLIN STREET WITH THE NORTH LINE OF STULL STREET; THENCE ALONG SAID NORTH LINE FOR THE NEXT FIVE (5) COURSES, SOUTH 890- 21' -45" WEST A DISTANCE OF 448.14 FEET AND SOUTH 790- 04' -37" WEST A DISTANCE OF 143.69 FEET AND ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 329.00 FEET AND HAVING AN ARC DISTANCE OF 7.08 FEET, TO THE END OF A CHORD BEARING SOUTH 190- 31' -39" EAST, AND HAVING A DISTANCE OF 7.08 FEET AND SOUTH 790- 04' -37" WEST A DISTANCE OF 199.83 FEET AND ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 833.00 FEET AND HAVING AN ARC DISTANCE OF 56.34 FEET, TO THE END OF A CHORD BEARING SOUTH 770- 08' -22" WEST, AND HAVING A DISTANCE OF 56.33 TO A POINT OF INTERSECTION WITH THE EAST LINE OF IGNITION DRIVE SOUTH; THENCE ALONG SAID EAST LINE FOR THE NEXT FOUR (4) COURSES, NORTH 630- 37' -23" WEST A DISTANCE OF 59.76 FEET AND NORTH 190- 54' -55" WEST A DISTANCE OF 129.95 FEET AND ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 167.00 FEET AND HAVING AN ARC DISTANCE OF 58.65 FEET, TO THE END OF A CHORD BEARING NORTH 100- 03' -37" WEST, AND HAVING A DISTANCE OF 58.34 FEET AND NORTH 000- 00' -00" EAST A DISTANCE OF 507.17 FEET; THENCE NORTH 890- 40' -25" EAST A DISTANCE OF 935.86 FEET TO THE WEST LINE OF SAID FRANKLIN STREET; THENCE SOUTH 000- 55' -14" EAST ALONG SAID WEST LINE A DISTANCE OF 629.46 FEET TO THE POINT OF BEGINNING. CONTAINING 14.10 ACRES MORE OR LESS, AND ALSO TO BE LATER KNOWN AS LOT # 7 OF THE PLAT OF "IGNITION PARK MAJOR SUBDIVISION, SECTION TWO" AS RECORDED IN THE RECORDS OF THE ST. JOSEPH COUNTY, INDIANA RECORDER'S OFFICE. SUBJECT TO ALL LEGAL RIGHT -OF -WAYS, AND EASEMENTS OF RECORD. and which has Key Numbers which are not yet platted 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