Designating Tax Abatement - Catering by Billie Inc. 117 E. Wayne (3 Year Real Property)

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RESOLUTION NO. /FO-4- O. 0/ Q- 90 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 117 EAST WAYNE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE YEAR REAL PROPERTY TAX ABATEMENT FOR CATERING BY BILLIE, INC. 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 117 East Wayne, South Bend, Indiana, and which is more particularly described as follows: A part of the Northwest Quarter of Section 12, Township 37 North, Range 2 East of the Second Principal Meridian, Portage Township, City of South Bend, Indiana being a part of Lots 50, 51, and 52 of original plat of South Bend, Indiana, more particularly described as follows: Beginning at the Intersection of westerly right -of -way line of St. Joseph Street (85' right -of -way) with the North right -of -way line of Wayne street (82.5' right -of -way); thence South 89 Degrees 38 Minutes 12 Seconds West (Bearing assumed) along the North right -of -way line of Wayne Street 148.84 feet; thence North 00 Degrees 27 Minutes 00 Seconds West, 186.00 feet; thence North 89 Degrees 39 Minutes 34 Seconds East, 165.61 feet; thence Southewsterly 186.99 feet along a segment of a curve to the right having a radius of 912.43 feet, subtended by a chord having a bearing of South 04 Degrees 42 Minutes 19 Seconds West and a length of 186.66 feet to the Point of Beginning and containing 29,835.05 square feet (0.6849 acre) more or less and is subject to easements, restrictions, limitations, and or covenants of record. 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 Section 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 qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12.1 -1, et seq. and South Bend Municipal Code section 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 I.C. 6- 1.1- 12.1 -1 et sea., and qualifies under the provisions of South Bend Municipal Code Section 2 -76 et sea., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature;