Confirming Tax Abatement - KCP Printing Co. 3615 McGill St. (5 Year Personal Property)

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RESOLUTION NO. 1(0 93- sq A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 3615 MCGILL STREET TO BE AN ECONOMIC REVITALIZATION AREA FOR THE PURPOSES OF A 5 YEAR PERSONAL PROPERTY TAX ABATEMENT FOR KCP PRINTING CO. WHEREAS, the Common Council of the City of South Bend, Indiana has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 3615 McGill Street particularly described as follows: A PART of the Northeast Quarter of Section 28, Township 38 North, Range 2 East, of the City of South Bend, German Township, St. Joseph County, Indiana, and described as follows: COMMENCING at the Northeast corner of said Section 28; thence South 89 °48'05" 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 000123" West along the centerline of McGill Street, 303.50 feet; thence North 89 059137" West along said centerline, 270.66 feet to the Point of Beginning; thence continuinng North 89 °59137" West, 523.23 feet; thence North 00 °02141" East, 399.78 feet; thence South 89 °48105" 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. 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 -2.5; 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 are 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 5 years. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Comm9p Council and pproval by the Mayor. PRESENTED I -a 3 c/ Me er of the Comm ouncil NOT APPROVED JAN 1 8 1989 ADOPTED /-d3-8'7 IRENE RAMo�, CITY CNERN, so. emn