Confirming Tax Abatement - Robertson's Building 211-213 S. Michigan (10 Year Real Property)

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RESOLUTION NO. C 393 `% A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 211 -213 S. MICHIGAN TO BE AN ECONOMIC REVITALIZATION AREA FOR THE PURPOSES OF A 10 YEAR REAL PROPERTY TAX ABATEMENT FOR ROBERTSONS BUILDING 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 21 i -213 S. Michigan, South Bend, Indiana, and which is more particularly described as follows: A part of Lots Numbered Two Hundred Eighty -four (284), Two Hundred Eighty -five (285), Two Hundred Eighty -six (286) and Two Hundred Eighty -seven (287) as shown on the Original Plat of the Town, now City, of South Bend, which part is bounded by a line running as follows: Beginning on the West line of Michigan Street, in said City, at a point 87 feet, 5 7/8 inches South of the Northeast corner of Lot Numbered 283 as shown on the said Original Plat; thence running South on said West line of Michigan Street, a distance of 192.2 feet to a point 5 3/8 inches South of the Northeast corner of Lot Numbered 287 in said Plat; thence West 165 feet more or less to the West line of said Lot 287; thence North along said West line 73 feet 5 3/8 inches to the centerline of a vacated 14 foot alley lying between Lots 285 and 286; thence East 44.72 feet; thence North 117.55 feet; thence East 121 feet to the point of beginning. with said real estate having the following Key Numbers: 18-3007-0242.01,18-3007-0244, 18- 3007 -0245 and 18- 3007 -0246, 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 purpose 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. SECTION 11, The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of 10 years, and further determines that the petition 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 sea. SECTION III ThisResolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Member of the Common PRESENTED NOT APPROVED ADOPTED 7 9,V4 led In Clerk's Office MAY 2 9 1996 LOBETTAJ. DUDA CITY CLEBK, 9O. BEND, IN.