Confirming Tax Abatement - Allied Products Corporation 601 W. Broadway St. (6 Year Real Property)

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RESOLUTION NO. A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 601 WEST BROADWAY STREET TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 6 YEAR REAL PROPERTY TAX ABATEMENT FOR ALLIED PRODUCTS CORPORATION 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 601 West Broadway Street and which is more particularly described as follows: Two parcels of land being parts of the Northeast Quarter of Section 14, Township 37 North, Range 2 East, in the City of South Bend, Portage Township, St. Joseph County, Indiana, and being more particularly described as follows: All of Lots Numbered Thirty -six (36) and Thirty -seven (37) in Samuel Stull's Second Addition to the City of South Bend, Indiana; ALSO, that part of said quarter- section more particularly described as commencing at the Southeast corner of Tract No. 4 of the Studebaker Corp. Replat as recorded in Plat Book 11, page 184 in the Office of the Recorder of St. Joseph County, Indiana; thence North 0 014'00" West (bearing assumed) along the East line of said Tract No. 4 a distance of 247.35 feet to the point of beginning for this description; thence South 89 022'40" West along the South line of Broadway Street projected westerly a distance of 618.58 feet to the Southeast corner of a tract of land described in a deed to Allied Products Corp. and recorded in Deed Record 649, pages 497 -503 in said Office of the Recorder; thence North 0 001'19" East along the East line of said tract a distance of 1165.66 feet; thence North 89 055'34" West along the North line of said tract a distance of 279.27 feet to a Southeasterly corner of a tract of land described in a deed to Cummins Engine Company, Inc., and recorded in Deed Record 650, pages 173 -183 in said Office of the Recorder; thence North 0 004'26" East along an East line of said tract a distance of 145.04 feet to the Southwest corner of a parcel of land described in a deed to Indiana and Michigan Electric Company recorded in Deed Record 652, pages 427 -433 in said Office of the Recorder; thence South 89 050'26" East, along the South line of said parcel, a distance of 100.00 feet; thence North 0 004'26" East, along the East line of said parcel and an East line of a tract described in a deed to South Bend Lathe, Inc. recorded in Deed Record 659, pages 637 -640, a distance of 120.28 feet; thence South 89 °53'36" East along a South line of said tract a distance of 647.32 feet; thence South 12 °18'50" East along a Westerly line of said tract a distance of 162.12 feet to a point; thence North 89 °55'21" East along a South line of said tract a distance of 230.50 feet to the West line of Franklin Street; thence South 0 021'55" East along said West line of Franklin Street a distance of 374.67 feet