Designating Tax Abatement - Lafayette Square (3 Year Real Property)

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RESOLUTION NO. Ilv 6 - o q 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 AN AREA BOUNDED BY CEDAR STREET ON THE NORTH, r EDDY STREET ON THE EAST, VACATED HULL STREET ON THE SOUTH AND FRANCES STREET ON THE WEST AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE YEAR REAL PROPERTY TAX ABATEMENT FOR LAFAYETTE SQUARE 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 an area bounded by Cedar Street on the north, Eddy Street on the East, vacated Hull Street on the South and Frances Street on the West, South Bend, Indiana, and which is more particularly described as follows: That part of the Southeast Quarter of Section 1, Township 37 North, Range 2 East, Portage Township, City of South Bend, St. Joseph County, Indiana which is described as follows: Beginning at the Northwest corner of Lot Numbered 1 in Hull's Subdivision of Block 11 of Cotrell's First Addition to the Town of Lowell as recorded in Plat Book # 10, Page # 105; thence N. 900- 00' -00" E. along the South right -of -way line of Cedar Street, 98.96 ft. (Record 99.00 ft.); thence S. 000- 14' -43" E., 88.32 ft.; thence S. 890- 52' -57" E., 82.99 ft. to the West line of a 14.00 ft. wide public alley; thence S. 000- 16' -18" E. along said West line, 14.00 ft. to the North line of a 14.00 ft. wide public alley; thence S. 890- 52' -57" E. along said North line, 208.49 ft. to the East right -of -way line of Eddy Street; thence S. 000- 02' -27" E. along said West line, 102.74 ft. (Record 103.00 ft.) to the centerline of vacated Hull Street; thence N. 890- 55' -26" W. along said centerline, 390.15 ft. to the East right -of -way line of Frances Street; thence N. 000- 13' -35" W. along said East line, 205.14 ft. to the point of beginning. Containing 1.00 acre and comprised of one (1) Lot. 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 sea., for tax abatement.