Designating Tax Abatement - Niles/Colfax Associates 431 E. Colfax Ave. (6 Year Real Property)

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RESOLUTION NO. /? 76 -q6 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 431 E. COLFAX AVENUE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 6 YEAR REAL PROPERTY TAX ABATEMENT FOR: NILES /COLFAX ASSOCIATES 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 431 E. Colfax Avenue, South Bend, Indiana, and which is more particularly described as follows: A parcel of land being a part of the Lots 38 thru 42 inclusive along with vacated alleys, or parts thereof in the Original Plat to the Town of Lowell, now City of South Bend, Portage Township, St. Joseph County, Indiana being more particularly described as follows: Beginning at the Southeast corner of said Lot 42, thence North 89- 54' -0" West along the South line of said Lot 42 also being the North right -of -way of Colfax Street, a distance of 139.77 feet; thence North 4- 51' -15" West, a distance of 70.11 feet; thence North 5- 27' -02" West, a distance of 66.59 feet, thence North 3- 49' -42" West, a distance of 66.69 feet; thence North 5- 09' -10" West, a distance of 14.89 feet; thence North 6- 33' -25" West, a distance of 68.34 feet to the North line of a 16 foot alley; thence North 89- 57' -07" East along the North line of said alley, a distance of 178.84 feet to the West right -of -way line of Niles Avenue; thence South 0- 12' -20" West along the West right -of- way line of said Niles Avenue, a distance of 347.40 feet to the place of beginning containing 1.245 acres more or less. Subject to any easements, covenants or restrictions of record. Be designated as a Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et seq. and South Bend Municipal Code section 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 section 2 -76 et se g., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and