Confirming Tax Abatement - East Race Properties 322-330 E. Colfax Ave. (5 Year Real Property)

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RESOLUTION NO. 1 3 Q 7 — c( (o A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS 322-330 East Colfax Avenue, TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF TAX ABATEMENT. WHEREAS , the Common Council of the City of South Bend has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area com- monly known as 322-330 East Colfax Avenue, South Bend, and more par- ticularly described by a line drawn as follows: Beginning at the Southwest 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 Southwest 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 Ave- nue 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 and 56 minutes East 188 . 2 feet to the South line of Colfax Avenue; thence East 118 . 48 feet to the place of beginning, being 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, St. Joseph County, Indiana, 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 and 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 as an Economic revitalization Area for the purposes of tax abatement. Such desig- nation is for real property tax abatement only and is limited to five (5) calendar years from the date of the adoption of the Declar- atory 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. CLERK‘ of the L0.mmon Council PRESENTED / 2-Pl6 IN CLERK U. 3401 APPROVED JAN,M986 ADOPTED ( - v> -fl IRENE GAMMON "° CI FRK, SO. BEND