Designating Tax Abatement - Bangor Refrigeration Building Addition Project 3620 W. McGill St. (10 Year Real Property)

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RESOLUTION NO. I88 /" 7 I 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 3620 W. MCGILL Street AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR BANGOR REFRIGERATION BUILDING ADDITION PROJECT 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 3620 W. McGill Street, South Bend, Indiana, and which is more particularly described as follows: Commencing at the Northeast corner of said Section 28; thence South 89 048'05" West along the North line of said Quarter Section, 1305.00 feet; thence South 00 000'23" West along the centerline of Kenmore Street, 363.70 feet; thence South 09 059'37" East along said centerline, 486.87 feet to the centerline intersection of Kenmore street and McGill Street: thence South 80 °00'23" West along the centerline of McGill Street, 303.50 feet; thence North 89 °59137" West along said centerline, 270.66 feet to the Point of Beainning; thence South 00 000'00" West, 401.41 feet; thence North 89059137" West, 523,60 feet; thence North 00 °02'41" East, 401.40 feet; thence South 89 059'37" West, 523.23 feet to the Point of Beginning, and containing 4.823 acres, more or less, and is subject to all easements, restrictions, and or limitations of record. and which has Key Number 25 1010 038519, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6- 1.1- 12.1 -1 et sea. 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 aualifies 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 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 seq. and aualifies under the relevant provisions of South Bend Municipal Code Sections 2 -76 et seq. for tax abatement. SECTION II. The Common Council herebv determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the amolicable standards for such development. B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature;