Confirming Tax Abatement - Sealed Power Technologies LP 2810 Foundation Dr. (5 Year Personal Property)

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RESOLUTION NO. 1610 -88 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 2810 Foundation Drive TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF Personal 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 Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 2810 Foundation Drive and which is more particularly described as follows: A part of Section 28, Township 38 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described as follows: Commencing at the northeast corner of the Southeast Quarter of Section 28; thence South 89 °58'56" West a distance of 2294.41 feet along the north line of said quarter section to the point of beginning; thence South 0 °00'47" West a distance of 247.17 feet; thence South 89 °58256" West a distance of 477.83 feet to the east boundary of Foundation Drive; thence North 0 °00'47" East a distance of 277.17 feet along said east boundary; thence North 44 059'52" East a distance of 14.14 feet to the South boundary of Boland Drive; thence North 89 058'56" East a distance of 447.83 feet along said south boundary; thence South 0 °00'47" West a distance of 40.0 feet along said south boundary; thence North 89 °58'56" East a distance of 20.0 feet along said south boundary to the point of beginning, being known as Lot 4 -4 Airport Industrial Park Phase III. 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.