Confirming Tax Abatement - Interplastic Corp Molding Products Division 1545 S. Olive (5 Year Personal Property)

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RESOLUTION NO. L300 JS A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1545 South Olive South Bend, Indiana TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE -YEAR PERSONAL PROPERTY TAX ABATEMENT FOR Interplastic Corporation Molding Products Division 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 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. with said real estate having the following Key Number 18 -582- 46644, 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