Designating Tax Abatement - Absorbtech, LLC 3900 W. William Richardson Dr. (6 Year Real Property)

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REAL PROPERTY TAX ABATEMENT DECLARATION RESOLUTION NO. A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3900 WEST WILLIAM RICHARDSON DRIVE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX YEAR REAL PROPERTY TAX ABATEMENT FOR ABSORBTEC1f9 LLC WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area commonly known as 3900 West William Richardson Drive, South Bend, Indiana, 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 exceptine therefrom the following: A part of the South Half of the Northwest Quarter of Section 21, Township 38 North, Range 2 East, St. Joseph Count, 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 00 52' 00" West 221.16 feet along the West line of the owner's land; thence Southeasterly 548.23 feet along an are to the right having a radius of 4,718.66 feet and subtended by a long chord having a bearing of South 670 13' 54" East and a length of 547.92 feet to the point of beginning. and which has Key Number 25- 1012 -0198, 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 Sections 2 -76, et se g., and: WHEREAS, the Department of Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1 et seQ., and South Bend Municipal Code Sections 2 -76, et sea., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Human Resources and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of Indiana Code 6 -1.1- 12.1 -1 et seq., and qualifies under the relevant provisions of South Bend Municipal Code Sections 2 -76, et sea., for tax abatement. 1