Designating Tax Abatement - Interplastic Corp Molding Products Division 1545 S. Olive (10 Year Real Property)

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RESOLUTION NO. �, J - 6 A DECLARATORY RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1545 South Olive South Bend, Indiana AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN -YEAR REAL PROPERTY TAX ABATEMENT FOR Interplastic Corporation Molding Products Division 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 1545 South Olive, South Bend, Indiana, and which is more particularly described as follows: A part of the Southeast Quarter of the Northwest Quarter and a part of the Northeast Quarter of the Southwest Quarter all in Section 15, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana more particularly described as follows: Commencing at the center of said Section 15, thence South along the North -South centerline of said Section 15, 85.69 feet; thence South 89 °52'00" West, 30.00 feet to the West line of Olive Street, said point being the true place of beginning; thence continuing South 89 °52'00" West, 370.00 feet; thence North 00 °00'00" East, 77.56 feet to a point which is 25 feet Southeasterly, by radial measurement from the centerline of the New Jersey, Indiana & Illinois Railroad Company's "Studebaker Spur" and known also as ICC Tract No. 77; thence Northeasterly on a curve to the left having a radius of 844.02 feet and parallel to and 25 feet Southeasterly by radial measurement from the centerline of said track, through a central angle of 17 °21'00 ", a chord distance of 254.61 feet which bears North 64 °20'57" East, an arc distance of 255.58 feet to the point of said curve; thence North 56 °45'48" East, parallel and 25 feet South of the centerline of said ICC Track No. 77, 41.66 feet; thence North 89 °52'00" East, 105.64 feet to a point on the West line of Olive Street; thence South 00 °00'00" West along said West line, 210.00 feet to the place of beginning. and this property has Key Number 18- 8075- 285101, be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6 -1.1- 12.1 -1 et seq., and South Bend Municipal Code §§ 2 -76 et seq. ; and 1