Confirming Tax Abatement - South Bend Lathe Inc. 400 W. Sample St. (5 Year Personal Property)

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North 5 57' 39" East, along said Easterly Right -of -Way line, a distance of 29.04 feet to an angle point; thence continuing along said Easterly Right -of -Way line, North 0 10' 33" West, a distance of 43.02 feet to a point of tangency for a curve convex to the Northwest; thence Northeasterly along said curve, having a radius of 94.48 feet and a central angle of 88 00' 40 ", an arc distance of 145.13 feet to the point of tangency of said curve, said point being on the South Right -of -Way line of Sample Street; thence North 87 50' 07" East, along said South Right -of -Way line, a distance of 135.89 feet to the place of beginning, 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 Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for personal 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. property owner is tax deduction for The Common Council hereby determines that the qualified for and is granted personal property a period of five (5) years. SECTION III. This Resolution effect from and after its adoption approval by the Mayor. embe of the Common Council P;?ESEP17_0 t l - 1 `( --�� NOT APPROVED ADOPTED \ � �' shall be in full force and by the Common Council and tiled In Clerk's Of#icu NOV 91988