Designating Tax Abatement - South Bend Tribune Corp. 213 & 225 W. Colfax Ave. (5 Year Real Property)

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Twenty-one (21) feet off the entire South side of Lot Numbered Two Hundred Thirty-three (233) as shown on the Original Plat of the Town, now City, of South Bend, in St. Joseph County, in the State of Indiana. Lot Numbered Two Hundred Thirty -two (232) as shown on the Original Plat of the Town, now City of South Bend, Indiana. Parcel No. 1. Lots Numbered Two Hundred Twenty-Nine (229), Two Hundred Thirty (230) and Two Hundred Thirty -One (231) as shown on the Original Plat of the Town, now City of South Bend; Parcel No. 2. Lot Numbered Fifteen (15) as shown on the recorded Plat of Bulla and Patton's Addition to the City of South Bend; Parcel No. 3. A parcel of land in the North half of Section 14, Township 37 North, Range 2 East in the City of South Bend, in the County of St. Joseph, in the State of Indiana, more particularly described as follows: Beginning at the intersection of the North line of the South Bend, St. Joseph and Southern Railroad right -of -way with the Westerly line of Prairie Avenue; thence West along said North right -of -way line of railroad, 600.00 feet; thence North perpendicular to said North right -of -way line of railroad, 50.00 feet; thence Northeasterly 325.46 feet to the Southwesterly comer of a tract of land conveyed to the Indiana Bell Telephone Company, Inc. by the Indiana National Bank of Indianapolis by virtue of a quit claim deed dated July 14, 1965, and recorded July 21, 1965, in Deed Record 665, Pages 463 -465, in the Office of the Recorder of St. Joseph County, Indiana; thence Southeasterly along the Southerly line of said Indiana Bell Telephone Company, Inc. tract of land, 383.18 feet to the Southeasterly comer of said Indiana Bell Telephone Company tract, also being the Westerly line of Prairie Avenue; thence Southwesterly along said Westerly line of Prairie Avenue, 53.23 feet to the place of beginning, and containing 1.89217 acres; and this property has Key Numbers 18- 1008029701 for 213 West Colfax Avenue and 18- 10120462. 18- 1012046401 18- 10120466. 18- 10120463 for 225 West Colfax Avenue, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1-1 et seq., and South Bend Municipal Code Sections 2 -76 et seq.; 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 seq., and South Bend Municipal Code Sections 2 -76 et sec ., 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 pursuant to Indiana Code 6 -1.1- 12.1 -4.5, that: (a) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type;