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the point of beginning; thence continuing South 89 °30'39" <br />West a distance of 362 feet; thence North 00 029'21" West a <br />distance of 120.5 feet; thence North 89 °30'39" East a <br />distance of 362 feet; thence South 00 029121" East along the <br />West line of Commerce Drive a distance of 120.5 feet to the <br />place of beginning, being the South 120.5 feet measured North <br />and South taken off at the entire South end of Lot Numbered <br />Twenty -four (24) of the Airport Industrial Park, Phase II, <br />St. Joseph County, Indiana now a part of the City of South <br />Bend. <br />and this Real Estate has Key Numbers of 18- 2183 - 688603, 18 -2183- <br />688612, 25- 1008 - 033502, and 25- 1008 - 133508, be designated as an <br />Economic Revitalization Area under the provisions of Indiana Code <br />§6 -1.1- 12.1 -1, et seq, and South Bend Municipal Code §2 -76, et seq; <br />and <br />WHEREAS, the Department Of Economic Development has concluded <br />an investigation and prepared a report with information sufficient <br />for the Common Council to determine that the area qualifies as an <br />Economic Revitalization Area under Indiana Code §6 -1.1- 12.1 -1, et <br />seq, and South Bend Municipal Code §2 -76, et seq, and has further <br />prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br />WHEREAS, the Human Resources And Economic Development <br />Committee of the Common Council has reviewed said report and <br />recommended to the Common Council that the area qualifies as an <br />Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the <br />City of South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds <br />pursuant to Indiana Code §6 -1.1- 12.1 -4.5 that: <br />A. The estimate of the cost of the new manufacturing <br />equipment is reasonable for equipment of that type; <br />B. The estimate of the number of individuals that will be <br />employed or whose employment will be retained by the <br />Petitioner can reasonably expected to result from the <br />proposed installation of new manufacturing equipment; <br />C. The estimate of the annual salaries of those <br />individuals who will be employed or whose employment will be <br />retained can be reasonably expected to result from the <br />proposed installation of new equipment; <br />D. Any other benefits about which information was <br />requested are benefits that can be reasonably expected to <br />Page 2 of 3 Pages <br />