Designating Tax Abatement - Turnmaster Corp. d/b/a South Bend Lathe Corp. 400 W. Sample St. (10 Year Real Property)

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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 400 WEST SAMPLE STREET, SOUTH BEND, INDIANA 46634 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN YEAR REAL PROPERTY TAX ABATEMENT FOR TURNMASTER CORP. d /b /a SOUTH BEND LATHE CORP. 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 400 West Sample Street, South Bend, Indiana, and which is more particularly described as follows: Parcel No. 6 in the Inner Belt Industrial Park, a Subdivision in the Southeast and Southwest Quarters of Section Eleven (I1) and the Northeast Quarter (1 /a) of Section Fourteen (14), all in Township Thirty -seven (37) North, Range Two (2) East of the Second Principal Meridian, City of South Bend, Indiana, the Plat of which is recorded in the Office of the Recorder of St. Joseph County, Indiana, in Plat Book 21, page I, EXCEPTING therefrom the West 30 feet of the East 40 feet of vacated Prairie Avenue. Also, EXCEPTING therefrom a part of Parcel No. 6 Inner Belt Industrial Park described as follows, viz: Beginning at the Southwest corner of Parcel No. 6 Inner Belt Industrial Park; thence North zero degrees 10 minutes 32 seconds West 73.55 feet along Easterly line of Chapin Street; thence Northeasterly to the right on the arc of a curve 60.52 feet with a radius of 565 feet a d limited to in length by a long chord of 60.49 feet along the East line of Chapin street; thence North 5 degrees 57 minutes 39 seconds East 52.92 feet along said East line of Chapin Street; thence South 61 degrees 39 minutes 41 seconds East 81.15 feet to the Southeasterly line of said Parcel No. 6; thence Southwesterly 167.68 feet along said Southeasterly line to place of beginning. and which has Key Number 18- 8021 - 084906, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et .Lq. and South Bend Municipal Code Sections 2 -76 gl =., 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, gt sec ., and South Bend Municipal Code Sections 2 -76, et M., 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 see., and qualifies under the relevant provisions of South Bend Municipal Code Sections 2 -76 el sN., for tax abatement. SECTION II. The Common council hereby determines and finds the following: