Confimring Tax Abatement - Airpark Place 3600 McGill St. (6 Year Real Property)

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RESOLUTION NO. Ij a A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMAONLY IWOWN AS 3600 MCGILL STREET TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX YEAR REAL PROPERTY TAX ABATEMENT FOR AIRPARK PLACE WHEREAS, the Common Council of the City of South Bend, Indiana has adopted a Declaratory Resolution designating certain area within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly :mown as 3600 McGill Street and which is more particularly described as follows: Commencing at the Northwest Corner of said Section 28; thence South 89 48'05" West (the bearing of the South line of the Southeast Quarter of Section 28 is assumed North 90 00'00" West) a distance of 1305.00 feet along the North boundary of said Northeast Quarter to the centerline intersection of Cleveland Road and Yenmore Street; thence South 00 00'23" West and a distance of 363.70 feet to a cross cut in the pavement; thence South 09 59'37" East a distance of 531.87 feet to a cross cut in the centerline of Kenmore Street; thence South 80 00'23" West a distance of 40.00 feet to a 1;2 inch iron rebar; thence North 54 59134" West, 14.14 feet; thence South 80 00'23" West, 86.41 feet; thence Southwesterly 90.16 feet along a segment of a curve to the right, having a radius of 1944.86 feet, subtended by a chord, having a bearing of South 81 20'03" West and a length of 90.15 feet to the Point of Beginning; thence South 00 00'23" West, 332.35 feet; thence North 89 59137" West, 352.17 feet; thence North 00 00123" East, 366.40 feet; thence South 89 59'37" East, 103.57 feet; thence Northeasterly 249.28 feet along a curve to the left, having a radius of 1944.86 feet, subtended by a chord , having a bearing of North 86 20107" East and a length of 249.11 feet to the Point of Beginning and containing 2.9925 acres, more or less, and is subject to all easements, restrictions and or covenants or record. as an Economic Revitalization Area; and WHEREAS, the 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 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objection from interested person; 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 six (6) yeas.