Confirming Tax Abatement - Mercury Stainless Corp. 3602 W. Sample St. (10 Year Real Property)

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RESOLUTION NO. IS-1 . - $ 7 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 3602 W. SAMPLE STREET, 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 Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 3602 W. Sample, and which is more particularly described as follows: PARCEL 1 A Part of the Northeast Quarter, Section 16 , Township 37 North, Range 2 East, 2nd P.M. , in the City of South Bend, Saint Joseph County, Indiana and also being a part of the land of the Torrington Company, a Delaware Corporation (Book 768, page 163 and Book 709, pages 559 and 560, Office of the Recorder) containing 5. 118 acres and more particularly described as follows: Beginning at a point which is 40 .0 feet South of the Northwest corner of the East Half of the Northeast Quarter of said section, said point being also on the South Right-of-Way line of Sample Street; thence S 00 03 'W (the bearing of said South Right-of-Way line is assumed due East-West) a distance of 395. 6 feet thence N 90 00 'W a distance of 9. 00 feet; thence S 0 03 'W a distance of 465.0 feet; thence N 90 00 'W a distance of 39 . 87 feet to the Easterly Right-of-Way of the New Jersey, Indiana and Illinois Railroad Company; thence N 21 44 'W a distance of 47 .18 feet; thence Northwesterly, along the arc of a curve to the left, having a radius of 487 .15 feet; a central angle of 45 25 ' 16" and a chord of 376. 15 feet, a distance of 386.19 feet; thence N 00 03 'E a distance of 548. 22 feet to the South Right-of-Way line of Sample Street; thence S 90 00 ' E on said Right-of-Way line a distance of 330.00 feet to the point of beginning. and PARCEL 2 A part of the Northeast Quarter, Section 16 , Township 37 North, Range 2 East, 2nd P.M. , in the City of South Bend, Saint Joseph County, Indiana and also being a part of the land of the Torrington Company, a Delaware Corporation (Book 709 , pages 559, 560, and 561, Office of the Recorder) containing 3 .067 acres; and more particularly described as follows: Beginning at a point 900 .6 feet South of the North line of Section 16, and 1390 . 55 feet East of the East line of Sheridan Avenue, which point is on the North line of proposed Industrial Avenue and on the Westerly line of an 18 foot railroad spur Right-of-Way for track 2; thence S 21 29 'E a distance of 123 .45 feet along said Right-of-Way to a point of tangency of a curve to the left, and which Right-of-Way line is at all points 9.0 feet Westerly, at right angles from the center line of spur tract Number 2 of said Railroad, said curve is more particularly defined by the following 4 courses running along said right of way