Designating Tax Abatement - Business Development Corp. 3615 McGill St. (6 Year Real Property)

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RESOLUTION NO. I u (o-92 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 3615 MCGILL STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 6 YEAR REAL PROPERTY TAX ABATEMENT FOR BUSINESS DEVELOPMENT CORPORATION 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 3615 McGill Street, South Bend, Indiana, and which is more particularly described as follows: A PART of the Northeast Quarter of Section North, Range 2 East, of the City of South Township, St. Joseph County, Indiana, and 28, Township Bend, German described as 0ia follows: COMMENCING at the Northeast corner of said Section 28; thence South 89 048105" West along the North line of said Quarter Section, 1305.00 feet, thence South 00 °00123" West along the centerline of Kenmore Street, 363.70 feet; thence South 09 °59137" East along said centerline, 486.87 feet to the centerline intersection of Kenmore Street and McGill Street; thence South 80 °00'23" West along the centerline of McGill Street, 303.50 feet; thence North 89 °59137" West along said centerline, 270.66 feet to the Point of Beginning; thence continuinng North 89 059137" West, 523.23 feet; thence North 00 002141" East, 399.78 feet; thence South 89 048105" West, 522.97 feet; thence South 00 °00123" West, 401.65 feet to the Point of Beginning, and containing 4.812 acres, more or less, and is subject to all easements, restrictions, and or limitations 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 sea. 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 seq., for tax abatement. 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 6 years. SECTION III. The Common Council hereby determines and finds the following: