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

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RESOLUTION NO. 1"? 92) 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 3601 LATHROP AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX YEAR REAL PROPERTY TAX ABATEMENT FOR P.A.I. PROPERTIES 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 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. and which has Key Number 25- 1010040023, be designated as an Economic Re ' ization Area under the provisions of Indiana Code 6- 1.1- 12.1 -1 et se q. and South Bend Municipal Code Sections 2 -76 et sea.; 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 se q., and South Bend Municipal Code Sections 2 -76, et sea., 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 sea., and qualifies under the relevant provisions of South Bend Municipal Code Sections 2 -76 et se q., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development;