Confirming Tax Abatement - Steel Warehouse Co. Inc., Nathan Lerman Trust and A & F Realty Co. 2722 W. Tucker Dr. (10 Year Real Property)

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RESOLUTION NO. A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 2722 WEST TUCKER DRIVE, SOUTH BEND, INDIANA TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR STEEL WAREHOUSE CO. INC., NATHAN LERMAN TRUST AND A & F REALTY CO. WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 2722 West Tucker Drive, South Bend, Indiana, and which is more particularly described as follows: The following parcels of Real Estate all located in St. Joseph County, Indiana: A part of the South '' /z of the Northwest 1/4 of Section 15, Township 37 North, Range 2 East in the City of South Bend, St. Joseph County, Indiana, described as follows: Beginning at a point on the East line of the Southwest 1/4 of the Northwest 1/4 of said Section 15, 580.64 feet South of the Northeast corner of said Southwest 1/4 of the Northwest 1/4, said point being 172.0 feet North of the North right of way line of the Indiana Northern Railway Company; thence Westerly parallel with said North right -of -way line 565 feet to the Southwest corner of a tract of land conveyed to Stanley Enterprises, Inc. By a deed recorded October 16, 1993 in Deed Record 777, page 226; thence North along the West line of said Stanley Enterprises, Inc. tract, said line being parallel with the East line of said Southwest 1/4 of the Northwest 1/4, 323.0 feet to the South line of Tucker Drive; thence West along the South line of Tucker Drive 215.93 feet; thence South parallel with said East line of the Southwest 1/4 of the Northwest 1/4, 495.90 feet to the North right -of -way line of the Indiana Northern Railway Company; thence Easterly along said North right -of -way line, 860.23 feet to the West edge of Steel Warehouse Co. Inc.'s building; thence North along said West edge of building, 172.0 feet; thence Westerly parallel with the North right -of -way line of the Indiana Northern Railway Company, 79.3 feet to the point of beginning, containing 5.0 acres, more or less. A part of the Southwest Quarter of the Northwest Quarter of Section 15, Township 37 North, Range 2 East in the City of South Bend, Indiana, more particularly described as follows: Beginning at a point 260 feet South and 25 feet West of the Northeast comer of said Southwest Quarter of the Northwest Quarter; thence West 540 feet; thence South parallel with the East line of said Southwest Quarter of the Northwest Quarter, 324.25 feet to a point 172 feet North of the North line of the right -of -way of the Indianallorthern Railway Company; thence East parallel with said North line of said right -of -way, 540 feet; thence North parallel with the East line of said Southwest Quarter of the Northwest Quarter, 320.75 feet to the place of beginning. A tract of land in the West Half (%) of the Northwest Quarter (1/4) of Section Fifteen (15), Township Thirty -seven (3 7) North, Range Two (2) East, now within and a part of the City of South Bend, St. Joseph County, Indiana, more particularly described as follows: