Designating Tax Abatement - 322-330 E. Colfax Ave. (5 Year Real Property)

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RESOLUTION NO. 13 q4 -8.-4, A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS 322-330 EAST COLFAX AVENUE AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT WHEREAS, a petition for real property tax abatement consi- deration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 322-330 East Colfax Avenue, South Bend, Indiana, and which is more particularly described by a line drawn as follows: A part of Lot Numbered Twenty-five (25) as shown on the Original Plat of the Town of Lowell and also a part of Miller and Green' s First Addition to the Town of Lowell, all now within and a part of the City of South Bend, bounded by a line running as follows, viz : Beginning at the South West corner of Colfax Avenue and Ginz Avenue, which point is on the South line of Colfax Avenue, 256. 3 feet West of an iron set for the South West corner of Niles Avenue and Colfax Avenue; thence South 5 degrees 31 minutes East along the West line of said Ginz Avenue a distance of 274 . 4 feet; thence West parallel with and 273 feet South of the South line of Colfax Avenue a distance of 167 . 9 feet; thence North 15 degrees and 6 minutes West a distance of 87 . 7 feet; thence South 89 degrees and 47 minutes West a distance of 47 . 25 feet; thence South 0 degrees 56 minutes East 188 . 2 feet to the South line of Colfax Avenue; thence East 118. 48 feet to the place of beginning, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1 . 1-12. 1-1 , et seq. ; and WHEREAS, the Revelopment Commission has concluded an inves- tigation 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 Commit- tee 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 re- port and recommendation of the Human Resources and Economic Develop- ment Committee that the area herein described be designated an Econo- mic Revitalization Area and hereby adopts a resolution designating this area as an Economic Revitalization Area for purposes of real pro- perty 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. ;gE p;3 � sf Z tint tea, i! i PRESERVES I (t e6 e� eih of AC • HOT. YW JAN 8 1966 M ber of the Corn Council APPRO ADOPTED 'i -. j 3-1 b 1RFNE CM' GEM SO. BEND