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

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RESOLUTION A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS 2722 WEST TUCKER DRIVE, TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT. WHEREAS, the Common Council of the City of South Bend has adopted a Delaratory 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 2722 West Tucker Drive and 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 . as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published 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 qualifications 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 herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Personal Property Tax Abatement only and is limited to five (5) calendar years from the date of adoption of the Declaratory Resolution by the Common Council . 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. PRESENTED / p -�(� C _ VL.? j 1988 ember of the C..Ton Council NOT APPROVED ADOPTED (o ` a. s;c f\^