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

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RESOLUTION N0. Zy ,j J/ A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1920 N. KENMORE STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT FOR AQUARIUS TOOL & MOLD, INC. WHEREAS, a petition for personal property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 1920. N. Kenmore, 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. and this property has Key Number 25 1006 030003 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 seq., 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; 1