Confirming Tax Abatement - Eaton Corporation 2930 Foundation Dr. (10 Year Real Property)

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RESOLUTION NO. c21q ' % `y _ A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 2930 FOUNDATION DRIVE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN -YEAR REAL PROPERTY TAX ABATEMENT FOR EATON CORPORATION (Name of Project) 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 2930 Foundation Drive, South Bend, Indiana and which is more particularly described as follows: PARCEL I: A description of 8.2895 acres of land in the North Half of Section 28, Township 38 North, Range 2 East, St. Joseph County, Indiana, said 8.2895 acre tract being part of a certain 12.00 acre tract described in Deed Book 593, page 47 of the deed records of said St. Joseph County, said 8.2895 acre tract being more particularly described as follows: Commencing at a PK nail with disc set at the North Quarter corner of said Section 28; thence along the Northerly line of said North Half of Section 28, being also the North line of said 12.00 acre tract, North 89 °58'54" West a distance of 165.00 feet to a PK nail set for the Northwest corner of said 12.00 acre tract; thence along the Westerly line of said 12.00 acre tract, South 00 °14'02" West a distance of 785.23 feet to an iron bar set at the pint of beginning of the 8.2895 acre tract herein described; thence continuing along the said Westerly line, South 00 °14'02" West a distance of 973.35 feet to a 1 1/4" iron pipe found for the Southwest corner of said 12.00 acre tract being also the Southwest corner of the said 8.2895 tract herein described; thence along the Southerly line of said 12.00 acre tract, South 89 °53'27" East a distance of 371.17 feet to a 3/4" iron pipe found at the Southeast corner of said 12.00 acre tract, being also the Southeast corner of the 8.2895 acre tract herein described; thence along the Easterly line of said 12.00 acre tract, North 00 °12'22" East a distance of 973.60 feet to a 1" iron pipe found at a corner of said 12.00 acre tract, being also the Southeast corner of a certain tract of land described in recorded Document No. 9016462; thence along a line of said 12.00 acre tract, being also the Southerly line of said recorded Document No. 9016462, North 89 °55'50" West a distance of 370.70 feet to the point of beginning. PARCEL II: A description of a portion of the North half of Section 28, Township 38 North, Range 2 East, St. Joseph County, Indiana, said portion being more particularly described as follows: Commencing at the North Quarter corner of said Section 28, being a PK nail and disc marked "S0307 "; thence along the North line of said Section 28, North 89 °58'54" West, a distance of 165.00 feet to a PK nail and disc set marked "S0307 ", thence along the Westerly line of a certain 12.00 acre tract of land described in Deed Book 593, page 47 on File and of record in the Office of the Recorder of St. Joseph County, Indiana, South 00 °14'02" West, a distance of 1758.58 feet to a 1 1/4" iron pipe found for the Southwest corner of said 12.00 acre tract of land and the point of beginning of said portion herein describe; thence continuing along the Southerly extension of said Westerly line, South 00 °14'02" West, a distance of 20.64 feet to an iron bar set, market "S0307 ", in the northerly Right of Way line of proposed foundation drive extension as shown on the plat of Airport Industrial Park, Phase III and IV and recorded as Document No. 7806496; thence along said Northerly right of way line, North 89 °44'58" East a