Designating Tax Abatement - Steel Warehouse Co. Inc. Slitter Modernization & Expansion Project 2722 W. Tucker Dr. (5 Year Personal Property)

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RESOLUTION NO. _11nZI= $ g__________ A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 2722 W. TUCKER DRIVE, SOUTH BEND, INDIANA, TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE YEAR PERSONAL PROPERTY TAX ABATEMENT FOR THE STEEL WAREHOUSE CO. INC. SLITTER MODERNIZATION AND EXPANSION PROJECT. WHEREAS, a petition for personal property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, requesting that the area commonly known as 2722 W. Tucker Drive, South Bend, Indiana, and which is more particularly described as follows: A part of the northwest 1/4 of Section 15, Township 37 '.North, Range 2 East, now within and part of the City of South Bend, Indiana, described as follows: Beginning at a point on the west line of the southeast 1/4 of the northwest 1/4 of said Section 15, a distance of 260.00 feet south of the northwest corner of said southeast 1/4 of the northwest 1/4, said point being on the south line of Tucker Drive; thence east along said south line of Tucker Drive 305.00 feet; thence south parallel with the west line of said southeast 1/4 of the northwest 1/4, 490.85 feet to the north right of way of the Indiana Northern Railway Company; thence west along said north right of way line 225.70 feet to the west edge of Steel Warehouse Co. Inc.'s building; thence north along said west edge of building 172.00 feet; thence west parallel with the north right of way line of said Indiana Northern Railway Company 104.30 feet to the southeast corner of a tract of land conveyed to Stanley Enterprises, Inc.; thence north along the east line of said Stanley Enterprises, Inc. tract 320.74 feet to the south line of Tucker Drive; thence east along said south line of Tucker Drive 25.00 feet to the point of beginning, containing 3.314 acres, more or less. Subject to highway and easements of record. be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et_seg_., and South Bend Municipal Code section 2 -76 et_seg_, 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_seg, and South Bend Municipal Code section 2 -76, et_seq, 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 Personal Property Tax Abatement and Statement of Benefits form completed by the Petitioner meet the requirements of I.C. 6 -1.1- 12.1 -1 et_1e1., and qualifies under the provisions of South Bend Municipal Code Section 2 -76, et_seg_, for tax abatement.