Designating Tax Abatement - Steel Warehouse Co. Inc. 2722 W. Tucker Dr. (5 Year Personal Property)

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86-40 RESOLUTION NO. I_`o2 -W A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS 2722 WEST TUCKER DRIVE AN ECONOMIC REVITALIZATION AREA FOR FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT. WHEREAS, a Petition For Personal Property Tax Abatement Consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly know as 2722 West Tucker Drive, South Bend, Indiana , and which is more particularly described by a line drawn as follows : A part of the Southwest 1/4 of the Northwest 1/4 of Section 15, Township 37 North, Range 2 East and a part of the East 1/2 of the Southeast 1/4 of the Northeast 1/4 of Section 16, Township 37 North, Range 2 East , being a part of Lot No. 16 in the subdivision of said Section 16 , all being in Portage Township and now within the City of South Bend , Indiana , described as follows : Beginning at a point on the South line of Tucker Drive 260 feet South and 780 . 93 feet West of the Northeast corner of the Southwest 1/4 of the Northwest 1/4 of said Section 15 ; thence West along said South line of Tucker Drive and its Westerly extension, 600. 00 feet ; thence South parallel with the West line of said Section 15 a distance of 498 . 41 feet to the North right of way line of the Indiana Northern Railway Company; thence East along said North right of way line, 600. 60 feet to a point 780 . 93 feet West of the East line of the Southwest 1/4 of the Northwest 1/4 of said Section 15 ; thence North parallel with said East line of the Southwest 1/4 of the Northwest 1/4 , 495. 90 feet to the point of beginning, containing 6. 851 acres , more or less . Subject to legal highway and all easements of record. be designated as an Economic Revitalization Area under the provisions 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 designated an Economic Revitalization Area and hereby adopts a resolution designating this area as an Economic Revitalization Area for purposes of personal property tax abatement .