Designating Tax Abatement - The Tower at Washington Square LLC 211 W. Washongton (10 Year Real Property)

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RESOLUTION NO. L( SQ '--(< A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 211 West Washington Street AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR APARTMENTS LOCATED AT THE TOWER AT WASHINGTON SQUARE LLC WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana (the "Common Council") requesting that portion of the property located at 211 West Washington Street, South Bend, Indiana which is more particularly described as: Lots 239 &240 & Vac Alley W& Adj OP and which is to be rehabilitated for use as apartments and shall have a separate Key Number assigned upon the subdivision of the parcel into four (4) separate tax parcels and provided to the Common Council be designated as an Economic Revitalization Area under the provisions of Indiana Code § 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et seq.; and WHEREAS,petitioner has agreed to and has accepted responsibility to report any changes in the final legal description and to report the final, appropriate Key Number to the Department of Community Investment and to the Office of the City Clerk; and WHEREAS, the South Bend Economic Development Commission ("EDC") previously recommended designation of the property located at 211 West Washington Street and its adjacent parking lot (the "Project Site") as an Economic Development Target Area under Indiana Code § 6-1.1-12.1-7 pursuant to Resolution No. 2015-3 adopted by the EDC on October 5, 2015; and