Confirming Tax Abatement - Fortuna Land Co. of Indiana (Harbor Metal Treating) 802 S. Fellows (3 Year Real Property)

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RESOLUTION NO. /7 ✓5- F9 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 802 SOUTH FELLOWS TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR FORTUNA LAND CO. OF INDIANA.(HARBOR METAL TREATING) WHEREAS, the Common Council of the City of South Bend, Indiana has adopted a Declaratory Resolution designating certain areas the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 802 South Fellows and which is more particularly described as follows: A parcel of land being a part of the plat of E. H. Rush's Second Addition, and adjacent vacated alleys, in the City of South Bend, Indiana, and being more particularly described as follows, viz: Beginning at the Northwest corner of Lot 168 as shown on the recorded plat of E. H. Rush's Second Addition; thence North 890 - 55' -29" East, along the North line of said lot 168 and said North line projected, and along the North line of Lot 155 in said Addition, a measured distance of 289.20 feet to the Northeast corner of said Lot 155; thence South 00 -02' -36" East, along the West line of Rush Street as shown on said plat, and said line extended, a measured distance of 50.14 feet to the South line of a 14 foot wide alley lying South of and adjacent to said lots 168 and 155; thence South 890 -56' -02" West, along said South line of said alley a measured distance of 289.15 feet to the East line of Fellows Street as shown on said plat, extended south; thence North 00 -05' -41" West, along said East line of Fellows Street, a measured distance of 50.10 feet to the point of beginning. as an Economic Revitalization Area: and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.2; and WHEREAS, the council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of three (3) years. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. PRESENTED l 1- 13 S 9 NOT APPROVED 11 cc ADOPTED 11— 13 - D 9 JOV 8 199,- a IF GOO