Confirming Tax Abatement - Steel Warehouse Co. Inc. 2722 W. Tucker Dr. (10 Year Real Property)

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RESOLUTION NO. A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 2722 WEST TUCKER DRIVE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN YEAR REAL PROPERTY TAX ABATEMENT FOR STEEL WAREHOUSE CO. INC. 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 2722 West Tucker Drive and which is more particularly described as follows: A part of the southeast 1/4 of the northeast 1/4 of Section 16, Township 37 North, Range 2 East in the City of South Bend, St. Joseph County, Indiana, described as follows: Commencing at the intersection of the east line of said Section 16 with the south line of Tucker Drive, said point being 260.00 feet south of the north line of said southeast 1/4 of the northeast 1/4; thence west along the westerly extension of the south line of Tucker Drive, 213.00 feet to the true Point of Beginning; thence south parallel with the east line of said Section, 499.07 feet to the north right of way line of the former Indiana Northern Railway Company; thence westerly along said north right of way line, 166.00 feet; thence north parallel with the east line of said Section, 499.76 feet to the westerly extension of the south line of Tucker Drive; thence east along said westerly extension of the south line of Tucker Drive, 166.00 feet to the Point Of Beginning and containing 1.90 acres, more or less. with said real estate having the following Key No. 18- 80752844.06, 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 ten (10) years, and further determines