Designating Tax Abatement - Steel Warehouse of Indiana Inc., Steel Warehouse Co. Inc., Allan Lerman, Frances Lerman, Nathan Lerman and A & F Realty Co.2722 Tucker Dr. (10 Year Real Property)

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Northeasterly parallel to and Two Hundred Fifty (250) feet by rectangular measurement Southeasterly from said original Centerline of the new York Central Railroad right -of -way, Seven Hundred Twenty -seven and One One- Hundredth (727.01) feet, more or less, to a point on the East line of the Southwest Quarter (1/4) of the Northwest Quarter (1/4) of the Northwest Quarter (1/4) of the Northwest Quarter (1/4) of Section Fifteen (15); thence East along said South line Six Hundred Sixty -three and Fifty -two Hundredths (663.52) feet, more or less, to the place of beginning, excepting Thirty (30) feet off the East side thereof for purposes of a public highway. 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 corner 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 Indiana Northern 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. with said real estate having the following Key No. 18- 8075- 284406, 18- 8075 -2843, 18 -8075- 284403 18- 8075- 284404, 18- 8075- 284502, 18- 8075- 284503, 18- 8075- 284501, 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 dexcribed 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. SECTION II. The Common Council hereby determines that the property owner is qualified for an is grated real property tax deduction for a period of ten (10) years, and further determines that the peition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6 -1.1 -12.1 et sect.. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. US 47695 / 4 PRESENTED b "�_L, -% NOT APPROVED ADOPTED � -02i!-% Member. of the Common Co �l Filed In Clerk's Office MAY 10 1996 LORETTA J. DWA CRY CLERK, BO. BEND. IN.