Confirming Tax Abatement - Union Station 326 W. South St. (5 Year Real Property)

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RESOLUTION NO. 1J fo A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS 326 W. SOUTH STREET 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 purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 326 W. South Street, South Bend, Indiana, and more particularly described by a line drawn as follows: Beginning at the point of intersection on the South line of South Street and the West line of South Lafayette Street; thence South along the West line of Lafayette Street; said line having an assumed bearing of S 02' 40" E, a distance of 109.143 feet to the face of a concrete retaining wall for the Penn Central Railroad right-of-way; thence N 86 23' 34" W, along the face of said retaining wall, a distance of 420.92 feet; thence N 00 00' 00" E, a distance of 82.95 feet to the South line of South Street; thence N 90 00' 00" E, a distance of 42.00 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 qualifications 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 herein 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. 410 A- - 46& L Member of the Cotouncil FILED IN CLERK'S OFFICE PRESENTED" 07-GS rAs- FEB 2 01985 tai APPROVED IRENE GAMMON %DOPTED .2 - ,ps= P.5—` CITY CLERK, SO. BEND, IN ono