Confirming Tax Abatement - South Bend Asorbtech LLC 3900 W. Richardson Dr. (5 Year Personal Property)

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RESOLUTION NO. 3 0�' qS A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3900 WEST RICHARDSON DRIVE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE YEAR PERSONAL PROPERTY TAX ABATEMENT FOR SOUTH BEND ABSORBTECH®, LLC 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 (common address) and which is more particularly described as follows: 20 acres of land off the East end of the South Half of the Northwest Quarter of Section 21, Township 38 North, Range 2 East excepting therefrom the following: A part of the South Half of the Northwest Quarter of Section 21, Township 38 North, Range 2 East, St. Joseph County, Indiana, described as follows: Beginning on the South line of said Quarter Section South 88° 57' 48" West 160.62 feet from the Southwest corner of said Quarter Section; thence South 88 ^57' 48" West 501.97 feet along said South line to the Southwest corner of the owner's land; thence North 0.52' 00" West 221.16 feet along the West line of the owner's land; thence Southeasterly 548.23 feet along an arc to the right having a radius of 4,718.66 feet and subtended by a long chord having a bearing of South 67° 13' 54" East and a length of 547.92 feet to the point of beginning. with said real estate having the following Key No. 25- 1012 -0198 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 Personal 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. 1