Confirming Tax Abatement - Central High Associates LP 317 W. Washington St. (10 Year Real Property)

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RESOLUTION NO. 2 a 9,5-_ 9 y A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 317 WEST WASHINGTON ST. TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR CENTRAL HIGH ASSOCIATES LIMITED PARTNERSHIP 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 317 West Washington St. and which is more particularly described as follows: Beginning at the intersection of the East line of William Street and the North line of Washington Ave., in the City of South Bend, St. Joseph County, Indiana; thence 89 °- 48' -08" East along the North line of Washington Street, 430.07 feet (426.50 ft., records) to a Point on the West line of St. James Court (a 14.00 ft. wide Public Alley); thence North 00° -01'- 34" East along said line, 411.05 feet (410.00 ft., record); thence North 890- 43' -16" West along the South line of Colfax Avenue (82.50 ft. wide), 430.26 feet (426.36 ft., record); thence South 00 °- 00' -00" West (assumed bearing) along the East line of William Street (66.00 ft. wide), 411.66 feet (410.00 ft., record) to the Point of Beginning. Containing 176,950.524 square feet or 4.06 acres. with said real estate having the following Key No.: 18 -1023 -0977, 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. SECTION H. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of ten (10) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6 -1.1 -12.1 et sea. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayes /J the ML:resolut/txabres4 PRESENTEE CP / NOT APPROVED aDOPTED p' —/ 1/- 9y Pftd in Clerk's Office JAN 1 4 1994 111 IRENE OAMWON CITYCLERK, 9O. BEND, IN.