Confirming Tax Abatement - South Bend Redevelopment Commission Benefit Western Ave. Partners LLC 401 S. Michigan St. (6 Year Real Property)

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RESOLUTION NO. M-1,5 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 401 SOUTH MICHIGAN STREET TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX (6) YEAR REAL PROPERTY TAX ABATEMENT FOR SOUTH BEND REDEVELOPMENT COMMISSION FOR THE BENEFIT OF: WESTERN AVENUE PARTNERS, 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 401 South Michigan Street and which is more particularly described as follows: A parcel of land being a part of the Southwest Quarter of Section Twelve (12), Township Thirty -seven (37) North, Range Two (2) East, also known as part of Lots Numbered Thirteen (13), Fourteen (14), Fifteen (15) and part of Lot Sixteen (16) and the adjacent vacated 14 foot alley in Martin's Addition all in the City of South Bend, Indiana and more particularly described as: Beginning at the Northeast corner of said Lot 13; thence North 89 °- 45' -35" West along the South right -of -way line of Western Avenue, a measured distance of 165.05 feet; thence South 00- 00' -00" East along the West line of said lots 13, 14, 15 and 16, a measured distance of 251.77 feet; thence South 89 °- 52' -37" East, a distance of 165.05 feet to the West right -of -way line of Michigan Street; thence North 00- 00' -00" East (bearing assumed) along said West right -of -way line, also being the East line of said Lots 13, 14, 15 and 16, a distance of 251.48 feet to the place of beginning. and which has Key Number 18- 3016 -0593 through 18- 3016 -0597, 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 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.