Designating Tax Abatement - Reddi-Pac Inc. 701 W. Chippewa Ave. (5 Year Personal Property)

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PARCEL II: A non - exclusive right -of -way and easement for the use, inspection, construction, installation, repair, maintenance, and replacement, of a 48 inch storm sewer for surface water run -off as it flows from the Main Plant (Parcel I), across, through, over and under "Plant 8" and the "Remaining Property" (as defined in the Declaration of Easements, Covenants, and Conditions made as of September 20, 1984 by Amland Corporation and recorded in the Office of the Recorder of St. Joseph County, Indiana as Document No. 8419846 into Bowman Creek. Said easement to be described as follows: A parcel of land in the Northeast Quarter of Section 23, Township 37 North, Range 2 East, being a strip of land thirty (30) feet side, fifteen (15) feet on each side of the following described line. Beginning at a point on the South line of said Northeast Quarter 680 feet West of the Southeast Corner of said Quarter Section; thence North 0 degrees 25' East 43 feet; thence North 49 degrees West along the approximate centerline of the existing storm sewer 148 feet to the North line of Plant 8 parcel and this property has Key Number 18- 8020 -0837, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et sec., and South Bend Municipal Code Sections 2 -76 et sec.; 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 sec., and South Bend Municipal Code Sections 2 -76 et sec., 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 determine and finds pursuant to Indiana Code 6 -1.1- 12.1 -4.5, that: (a) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; (b) the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new manufacturing equipment; (c) the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to -2-