Confirming Tax Abatement - Lowe's Inc. 350 S. Columbia St. (5 Year Real Property)

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RESOLUTION NO. 3 q (o -(i A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS 350 S. COLUMBIA STREET, SOUTH BEND, INDIANA TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY 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 Revitalization Areas for the pur- pose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 350 S . Columbia Street, South Bend, Indiana, and more particularly described as follows : A parcel in the Southeast Quarter of Section 12 , Township 37 North, Range 2 East , also being a part of Block 8 of the recorded Plat of River Bend Addition, City of South Bend, St . Joseph County, Indiana , more particularly described as follows : Commencing at the intersection of the East right-of-way line of Columbia Street and the North right-of-way line of Monroe Street as shown on said Plat of River Bend Addition; thence North 0°30 ' 18" West along said East right-of-way line of Columbia Street 293 .20 feet; thence continuing on said East right-of-way line of Columbia Street northward along a curve to the left, having a radius of 421 . 97 feet and subtended by a long chord with a bearing of North 2°22 ' 43" West a distance of 27 . 60 feet to the POINT OF BEGINNING; thence continuing on said right-of-way line northward along a curve to the left having a radius of 421. 97 feet and subtended by a long chord 137. 68 feet in length with a bearing of North 13°38 ' 34 . 5" West 138 . 30 feet; thence North 52°00 ' 00" East 86 . 74 feet; thence South 38°00 ' 00" East 255 .00 feet ; thence South 52°00 ' 00" West 69 . 00 feet ; thence North 39°35 ' 12" West 98 . 62 feet; thence South 75°20 ' 48" West 78 . 20 feet to the Point of Beginning . 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 quali- fications 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 here- in as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for real 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.nn PRESENTED 7' ;,3-edc 'emser of the on Council NOT APPROVED ADOPTED Ql —A3— cyc�f 9 290E