Confirming Tax Abatement - Aquarius Tool & Mold, Inc. 1920 N. Kenmore St. (5 Year Personal Property)

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RESOLUTION NO. I7 a2 /- Y,2,- A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1920 N. KENMORE STREET TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 5 YEAR PERSONAL PROPERTY TAX ABATEMENT FOR AQUARIUS TOOL & MOLD, 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 purpost of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 1920 N. Kenmore Street, South Bend, Indiana, and which is more particularly described as follows: A part of the Northeast Quarter of Section 33, Township 38 North, Range 2 East, City of South Bend, St. Joseph County, Indiana described as follows: Commencing at the southeast corner of said quarter section; thence South 0 degrees 07 minutes 29 seconds West 815.52 feet along the east line of said section to the north boundary, extended, of Voorde Drive; thence North 89 degrees 40 minutes 09 seconds West 1,288.56 feet along said extended boundary and the north boundary of said Voorde Drive to the east boundary of Kenmore Street (formerly Progress Drive); thence North 0 degrees 18 minutes 51 seconds East 1,260.40 feet along said east boundary, and said east boundary extended, to the point of beginning of this description; thence North 0 degrees 18 minutes 51 seconds East 220.00 feet; thence North 89 degrees 56 minutes 16 seconds East 215.00 feet; thence South 0 degrees 18 minutes 51 seconds West 220.00 feet; thence South 89 degrees 56 minutes 16 seconds West 215.00 feet to the point of beginning and containing 1.086 acres, more or less. Also, above described lot is subject to a 20 -foot utility easement, the centerline of which is parallel to, and 146.41 feet south of the northern boundary of said lot. Also, said lot is subject to 30 -foot building setback lines adjacent to all above described courses, except the course along the western boundary which is subject to a 60 -foot building setback line. with said real estate having the following Key No. 25 1006 030003, 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. 1