Designating Tax Abatement - Schafer Gear Works Inc. 814 S. Main St. (5 Year Personal 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 814 SOUTH MAIN STREET, SOUTH BEND, INDIANA, 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR SCHAFER GEAR WORKS, INC. WHEREAS, a petition for personal property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, requesting that the area commonly known as 814 S. Main St., South Bend, Indiana, and which is more particularly described as follows: PARCEL I: All of Lots Numbered One Hundred Nine (109) and One Hundred Ten (110) as shown on the recorded Plat of Daniel Garst's 1st addition to South Bend City, now within and apart of the City of South Bend. PARCEL II: All of Lots Numbered Two Hundred Fifty -seven (257) and Two Hundred Fifty -eight (258) as shown on the recorded Plat of Daniel Garst's Subdivision of a part of his 1st addition to South Bend City, now a part of the City of South Bend. PARCEL III: All of Lots Numbered Two Hundred Eleven (211) and Two Hundred Twelve (212) as shown on the recorded Plat of Daniel Garst's 1st addition to the South Bend City, now within and a part of the City of South Bend. PARCEL IV: Beginning at the Northwest corner of Lot Two Hundred Twenty (220) in Garst's First addition to South Bend City now within and a part of the City of South Bend, Indiana, as recorded in Plat Book 3, page 41 in the Office of the Recorder of St. Joseph County, Indiana, said beginning point being the intersection of the South line of said vacated 14 foot alley with the East right -of -way line of Main Street as now exist: thence north 0 degrees 00' 00" East (bearing assumed) along said East right -of -way line of Main Street, a measured distance of 52.13 feet to the South line of the North 30.00 feet of said Lot Two Hundred Sixty (260); thence North 89 degrees 57'40" East along said South line and parallel with the North line of said Lot 260, a measured distance of 200.37 feet to the East line of Lot Two Hundred Twelve (212) in Garst's First addition; thence South 0 degrees 10'21 " West along the East line of said Lot 212, a measured distance of 51.93 feet to the Northeast comer of Lot Two Hundred Thirteen (213) in said Garst's First addition being also the Southeast corner of a 14 foot alley vacated by Vacation Resolution 3444; thence South 89 degrees 56'20" West along the South line of said vacated 14 foot alley, a measured distance of 200.25 feet to the place of beginning. PARCEL V: All of Lots Numbered Two Hundred Thirteen (213), Two Hundred Fourteen (214) , Two Hundred Fifteen (215), Two Hundred Sixteen (216), and the East 10 feet of Lot Numbered Two Hundred Seventeen (217) all as shown on the recorded Plat of Daniel Garst's 1st addition of South Bend City, now within and a part of the City of South Bend, excepting therefrom the South 25 feet thereof. PARCEL VI: All of Lots Numbered Two Hundred Eighteen (218), Two Hundred Nineteen (219), and Two Hundred Twenty (220), and the West 15 feet of Lot Numbered Two Hundred Seventeen (217) all as shown on the recorded Plat of Daniel Garst's 1st addition to South Bend City, now within and a part of the City of South Bend, excepting therefrom the South 24.5 feet thereof. And which has Key Number 18- 042`l-62 1, be designated as an Economic Revitalization Area under the provisions of bidiana_Code 6 -1.1 -12.1 eUN, and South Bend Municipal Code Sections 2 -76 et seq.; and WHEREAS, the Department of Community and Economic Development has concluded an investigation and pre- pared 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 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 of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds pursuant to Indiana Code 6 -1.1- 12.1 -4.5 .t sra„ that: a. the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type;