Confirming Tax Abatement - Mastic - A Kusan, Inc. Company 1507 S. Olive St. (10 Year Real Property)

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said Southwest Quarter (1/4) of said Northwest Quarter (1/4) a distance of 402 . 90 feet to the point of beginning. PARCEL VI - Beginning at a point on the West line of Kaley Street at the intersection of the South right of way line of St . Joseph, South Bend and Southern Rail- road, thence South along the West line of Kaley Street, Four Hundred Two and Ninety-Hundredths (402. 90) feet, more or less to the East-West center line of Section 15, Township 37 North, Range 2 East; thence East on said East-West center line Thirty (30) feet to the center line of Kaley Street; thence North along said center line Twenty-Six and Fifty Hundredths (26 .50) feet; thence East parallel with said East-West center line of Section 15, Thirty (30) feet to the East line of Kaley Street; thence North Three Hundred Seventy-Six and Four Hundredths (376 .40) feet, more or less, to said South right of way line of the St. Joseph, South Bend and Southern Railroad; thence West along said right of way line Sixty (60) feet to the place of beginning. as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Reso- lution and the public hearing before the Council has been pub- lished 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 quali- fications 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 Resolution designating the area described here- in as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for real property tax abatement only and is limited to ten (10) calendar years from the date of adoption of the Declaratory Resolution by the Common Council and that real property taxes are to be abated for a ten (10) year period pursuant to I .C. 6-1. 1-12 . 1-3(b) and I .C. 6-1. 1-12. 1-4(d) (3) . SECTION II . This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Ade .ri' Z tuber of the C mm.n Council REED IN CLERK'S OFFICE OCT 2 21986 I R. . a n �, 9 ins w. PRESENTED /O 'oZ 741-.6 C!T d C l.u;;' 1 NOT APPROVED ADOPTED /Q -eQ 7—c?‘ -3-