Designating Tax Abatement - 3107 N. Kenmore (Phase IV Airport Industial Park) (5 Year Real Property)

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RESOLUTION NO. (Q'((a - $,c. A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS 3107 NORTH KENMORE (PHASE IV AIRPORT INDUSTRIAL PARK) AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. WHEREAS, a petition for real property tax abatement con- sidaration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 3107 North Kenmore Phase IV Airport Industrial Park, South Bend, Indiana, and which is more particularly described by a line drawn as follows: A part of the NE 4 of Section 28, Township 38 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described as follows: Commencing at the southeast corner of the NE 4 of said section; thence South 89° 58' 56" West along the south line of said quarter section a distance of 1150.09 feet; thence North 0° 00' 23" East along the centerline of Kenmore Street a distance of 1011.00 feet; thence North 89° 59' 37" West a distance of 40.00 feet to the west boundary of said Kenmore Street and the point of beginning; thence South 45° 00' 23" West a distance of 14.14 feet to the North boundary of Gagnon Street; thence North 89° 59' 37" West a distance of 320.00 feet along said north boundary; thence North 0° 00' 17" East a distance of 363.60 feet; thence South 89° 59' 37" East a distance of 326.61 feet to said west boundary of Kenmore Street; thence Southerly along said west boundary a distance of 112.63 feet along an arc to the right having a radius of 1869.86 feet and subtended by a long chord having a bearing of South 1° 43' 11" East and a distance of 112.61 feet; thence South 0° 00' 23" West a distance of 241.03 feet along said west boundary to the point of beginning and containing 2.748 acres, more or less. be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1-1, et seq. ; and WHEREAS, the Redevelopment Commission has concluded an in- vestigation 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 Committee 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 report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a resolution designating this area as an Economic Revitalization Area for purposes of real property 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.