Confirming Tax Abatement - P.A.I. Properties 3601 Lathrop (6 Year Real Property)

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RESOLUTION NO. /99'� 9q A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3601 LATHROP, SOUTH BEND, INDIANA TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX (6) YEAR REAL PROPERTY TAX ABATEMENT FOR P.A.I. PROPERTIES 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 3601 Lathrop, South Bend, Indiana and which is more particularly described as follows: A part of the Southeast Quarter of Section 28, Township 38 North, Range 2 East of the Second Principal Meridian, German Township, St. Joseph County, Indiana and described as follows: Commencing at the Southeast corner of said Section 28 said point being at the intersection of centerlines of Bendix Drive and Lathrop Street, thence North 90 -00 -00 West (bearing assumed) along the South line of the Southeast quarter of said Section 28 (being along the centerline of Lathrop) 1423.75 feet; thence North 00 -05 -56 East, 40.00 feet to the point of beginning; thence North 90 -00 -00 West 454.93 feet; thence North 00 -05 -56 East, 803.76 feet; thence North 45 -40 -30 East, 243.40 feet; thence North 44 -29 -49 East, 191.12 feet to the South line of 40' easement granted to C.S.S. and South Bend Railroad; thence South 45 -02 -33 East along the said southerly easement 202.36 feet; thence South 00 -16 -23 East, 606.98 feet; thence South 00 -05 -56 West, 360.20 feet to the point of beginning and containing 10.226 acres more or less and is subject to easements, restrictions and or covenants of record. with said real estate having the following Key No. 25- 1010040028, 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 II. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of six (6) years, and further