Confirming Tax Abatement - Department of Redevelopment/Kieffer/Zimpelman Partnership 402-404 E. South St. (10 Year Real Property)

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RESOLUTION N0. A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 402 -404 EAST SOUTH STREET, SOUTH BEND, INDIANA TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT WHEREAS, the Common Council of the City of South Bend has adopted a Declaratory Resolution designating certain areas within the City as Economic Re- vitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 402 -404 East South Street, South Bend, Indiana, 46601, and which is more particularly described as follows: A parcel of land being a part of Lots One (1), Two (2), and Three (3) in the City's subdivision of the east half (112) of Lot Twenty -Three (23) in Denniston and Fellows Addition, South Bend, Indiana, and being more particularly described as follows: Beginning at the southwest corner of said Lot One (1), thence north 00- 09' -37" west along the west line of said Lot one (1), a measured distance of 99.28 feet to a point of 16.5 feet south of the northwest corner of Lot One (1); thence south 890- 49' -40" east, a measured distance of 90.70 feet; thence south 01- 03' -03" east, a measured distance of 99.28 feet to the north line of a 14' -foot alley; thence north 891- 49' -46" west along the said north line a measured distance of 90.52 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. That the Common Council hereby confirms its Declaratory Resolu- tion 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 Comon Council. SECTION II. That the Common Council hereby determines that the property owner is qualified for and is granted real property tax deduction for a period of ten (10) years. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. PRESENTED S %- NOT APPROVED ADOPTED b -,; T- M ber o -he Common Council Filed In Clerk's Office JUN 61918 IRENE GAMMON CITY CLERK, $0. BEND, IN.