Designating Tax Abatement - Kinnucan Welsch Realty LLC 201 N. Olive St. (10 Year Real Property)

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RESOLUTION NO. 3 22%-03 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 201 NORTH OLIVE STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR KINNUCAN WELSCH REALTY L.L.C. 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 commonly known as 201 North Olive Street, South Bend, Indiana, and which is more particularly described as follows: North 57.39 F + on Olive x 257' of Lots 11 & 12 & P + S of 33, 32, 31, 30 & all of 29 & 14" Vacant Alley West End Subdivision. 60.37 Ft on Olive Street x 261 Foot on Orange being Lot 10 and parts of 11- 30- 31 -32 -33 & 14 Foot Alley West End Subdivision. and which has Key Numbers 18- 2038 - 128701 and 18- 2038 -1289, 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, the Department of Community and Economic Development 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 M., and South Bend Municipal Code Sections 2 -76, et seq., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; 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 an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council ofthe City of South Bend, Indiana, as follows: