Designating Tax Abatement - Lock Joint Tube Inc. 515 W. Ireland Rd. (10 Year Real Property)

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RESOLUTION NO. 5�,T / 7 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 515 West Ireland Road South Bend, IN 46614 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR Lock Joint Tube Inc. 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 515 West Ireland Road, South Bend, Indiana, and which is more particularly described as follows: A parcel of land located in the Southeast Quarter of the Northeast Quarter of Section 26, Township 37 North, Range 2 East, more particularly described as follows: Beginning at a point on the East -West centerline of said Section 26, a distance of 400.00 feet South 90 °00'00" West (bearing assumed for this survey) of the Southeast corner of said Northeast Quarter of Section 26; thence South 90 °00'00" West along the East -West centerline a distance of 891.04 feet; thence North 0 °58'07" East, along the West line of said Southeast Quarter of the Northeast Quarter, a distance of 996.17 feet to an iron found this survey 314.00 feet South 0 °58'07" West of a stone found this survey which marks the Northwest corner of said Quarter, Quarter Section; thence North 89 °44'16" East, a distance of 1300.60 feet to a point to the East line of said Northeast Quarter 314.00 feet South 1 °30'29" West of a stone found this survey which marks the Northeast corner of said Quarter, Quarter Section; thence South 1 °30'29" West along the East line of said Northeast Quarter, a distance of 602.31 feet; thence South 90 °00'00" West parallel with said East -West centerline, a distance of 400.00 feet to an iron found this survey; thence South 1 °30'29" West, parallel with said East line of the Northeast Quarter, a distance of 400.00 feet to the place of beginning. and which has Key Number 23- 1013 -0758, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 gt sea., and South Bend Municipal Code Sections 2 -76 et sea., and; WHEREAS, the Department of 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 sea., and South Bend Municipal Code Sections 2 -76 et sea., and has further prepared maps and plats showing the boundaries and such other information regarding the area in questions as required by law; and WHEREAS, the Human Resources 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.