Confirming Tax Abatement - South Bend Redevelopment on Behalf of Elumatec USA Inc. Lot 11 Toll Road Industrial Park (3 Year Real Property) (2)

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RESOLUTION NO. Al )' /f0 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS LOT 11 - TOLL ROAD INDUSTRIAL PARK TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR SOUTH BEND REDEVELOPMENT AUTHORITY ON BEHALF OF ELUMATEC USA, INC. WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas with the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as Lot 11 - Toll Road Industrial Park and which is more particularly described as follows: A parcel of land in the northeast quarter of Section 21, Township 38 North, Range 2 East, German Township, St. Joseph County, Indiana, and described as being Lot 11 of Toll Road Industrial Park - Section 6, as recorded under instrument number 8908570, dated April 7, 1989, at the office of the recorder, St. Joseph county, Indiana, and containing 3.7178 acres, more or less, and is subject to all easements, restrictions and or covenants of record. with said real estate having the following Key No. 25- 1013 - 0211.08, as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council.