Confirming Tax Abatement - Exacto, Inc. 1137 S. Lafayette Blvd. (5 Year Personal Property)

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RESOLUTION NO. oZOlnoi- %3 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1137 S. LAFAYETTE BLVD. TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 5 YEAR PERSONAL PROPERTY TAX ABATEMENT FOR EXACTO, INC. OF SOUTH BEND 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 1137 S. Lafayette Blvd. and which is more particularly described as follows: Beginning at the SW corner of Lot 7, Stull's Second Edition; Thence, N along the E right -of -way of an alley a distance of 336.06 feet + or - to a point; said point being the NW corner of the S 1/2 of Lot 64, South Bend City Edition; Thence, E along the northern boundary of said 1/2 of Lot 64 which is on the western right -of -way of Lafayette Blvd.; Thence, S a distance of 275 feet + or - to the SE corner of Lot 6, Stull's Second Edition; Thence, W a distance of 125 feet to a point; Thence, S 66 feet to a point; Thence, W 40 feet to a point of beginning. All being within the City of South Bend, County of St. Joseph, State of Indiana. with said real estate having the following Key Nos. 18 8006 0288, 18 8002 0115, 1B 8006 0282, 18 8006 028201, 18 8006 0285, 18 8006 028501, 18 8002 0116, 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 Personal 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 II. The Common Council hereby determines that the property owner is qualified for and is granted Personal property tax deduction for a period of five (5) 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 approval by the Mayor. Filed in Clerk's Office PRESENTED - -l�=f= - - - - --- -- `1' -/3 -93 Member �he Common Co nc 1 --JUL 2 1 NOT APPROVED ADOPTED IRENE GAM�AON 9— CITY CLERK, S0. BEND,