Designating Tax Abatement - 1507 S. Olive St. (5 Year Personal Property)

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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. be designated as an Economic Revitalization Area under the pro- visions of Indiana Code 6-1 . 1-12. 1-1, et seq. ; and WHEREAS, the Redevelopment Commission has concluded an investigation and prepared a report with information 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 has further prepared maps and plats showing the boundaries and such other information as required by law of the area in question; 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 accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be desig- nated an Economic Revitalization Area and hereby adopts a reso- lution designating this area as an Economic Revitalization Area for purposes of personal property tax abatement. SECTION II . That this designation shall be limited to five (5) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION III . That the Common Council directs the City Clerk to cause notice of the adoption of this resolution to be published, said publication providing notice of the public hearing before the Common Council on said declaration. SECTION IV. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. ember of the Coe on Council FILED IN CLERK'S OFFICE PRESENTED /0 -/3-$'6 OCT 8 1986 NOT APPROVED IRENE GAMMON ADOPTED p l - Si CITY CLERK, SO. BEND, i'V -3-