Confirming Tax Abatement - Peter Adams, Judy M. Adams, Ted G. Spear, Debra K. Spear 2750 Foundation Dr. (3 Year Real Property)

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RESOLUTION NO. I le W _ 1- 9 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 2750 FOUNDATION DRIVE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A THREE (3) YEAR REAL PROPERTY TAX ABATEMENT FOR PETER ADAMS JUDY M. ADAMS TED G. SPEAR DEBRA B. SPEAR 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 2750 Foundation Drive and which is more particularly described as follows: A PART of the Southwest Quarter of Section 28, Township 38 North, Range 2 East, of the City of South Bend, Indiana, being also a part of Lot 4 -3 of the Airport Industrial Park - Phase III, and is described as follows: COMMENCING at the Southeast corner of the Southwest Quarter of Section 28, Township 38 North, Range 2 East, said point being at the centerline of Lathrop Drive; thence South 89 057133" West (bearing assumed) along the South line of the Southwest Quarter of said Section 28, 171.27 feet; thence North 00 °00'47" East along the centerline of Foundation Drive, 2178.77 feet; thence South 89 059113" East, 40.0 feet to the Point of Beginning; thence North 00 °00147" East, 234.09 feet; thence South 89 059'13" East, 450.00 feet; thence South 00 °00'47" West, 234.09 feet; thence North 89 059113" West, 450.00 feet to the Point of Beginning, and containing 2.418 acres, more or less, and is subject to 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 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 Declara- tory 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.