Confirming Tax Abatement - 220 W. Eckman (5 Year Personal Property)

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RESOLUTION NO. 1 5 C. A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 220 WEST ECKMAN AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT WHEREAS, a petition for personal property tax abate- ment consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 220 West Eckman, South Bend, Indiana, and which is more par- ticularly described as follows : Real Estate in St . Joseph County, in the State of Indiana, described as follows: A tract of land located in the Northwest Quarter of Section 24, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, and described as follows : Beginning at an iron pipe at the Southwest corner of the Northwest Quarter of said Section 24; thence North 00°00 ' 00" East (all bearings assumed) along the West line of the said Quarter Section, 1136.35 feet to a 4" fence post, said point being at the South Right of Way of Eckman Street (50 ' Right of Way) ; thence North 88°48 '43" East along the said Right of Way line of Eckman Street 343 . 75 feet to a point identified by a cross cut in concrete, said point being on the Right of Way line of Pennsylvania System Vandalia Rail Road Company (99 ' Right of Way) ; thence Southwesterly along the said Rail Road Right of Way 1174 . 85 feet measured on a curve to the right having a radius of 5682.44 feet, subtended by a chord having a bearing of South 13°08 ' 02" West and a chord length of 1172. 80 feet; thence South 88°59 '32" West, 77.20 feet to the Point of Beginning and containing 6 .035 acres more or less. be designated as an Economic Revitalization Area under the pro- visions of Indiana Code 6-1. 1-12 . 1-1 et seq. ; and South Bend Municipal Code section 2-76; and WHEREAS, the Department of Economic Development has concluded an investigation and prepared a report with informa- tion 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 seq. , and South Bend Municipal Code sec- tion 2-76, 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 . That the Common Council hereby determines and finds that the estimate of the number of individuals that will be employed or whose employment will be retained and the estimate of the annual salaries of those individuals and the estimate of the value of the redevelopment or rehabilitation and the other benefits about which the Common Council has