Confirming Tax Abatement - Teachers Credit Union Southwest Corner of Michigan & Washington Streets Lots 25-26, Pt of 27 Orginal Plat of South Bend (5 Year Real Property)

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RESOLUTION NO. 1 1,\b-t A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS THE SOUTHWEST CORNER OF MICHIGAN AND WASHINGTON STREETS, SOUTH BEND, INDIANA, 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 Revitalization Areas for the pur- pose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as the Southwest Corner of Michigan and Washing- ton Streets, South Bend, Indiana , and more particularly de- scribed as follows: The following described real estate in the City of South Bend, St. Joseph County, Indiana, to-wit: All of lots 25 and 26 and the North 28 feet of Lot 27 of the original plat of the Town (now City) of South Bend, St. Joseph County, Indiana , more particularly described as follows : Beginning at the northeast corner of said Lot 25; thence South a distance of 160 .20 feet along the west boundary of Michigan Street; thence West a distance of 165.88 feet along a line parallel to and 28 feet south of the north line of Lot 27 to a point on the west line of said Lot 27; thence North a distance of 160.20 feet along the west lines of Lots 27 , 26 and 25; thence East a dis- tance of 165. 88 feet along the north line of Lot 25 to the point of beginning, containing 26,574 square feet (0. 610 acres) , more or less. as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Reso- lution and the public hearing before the Council has been pub- lished 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 qualifi- cations 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 Com- mon 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 . FILED IN CLERK'S OFFICE _ i. . �> 4I 4 PRES*NT c) ,.:'-//- 1S Memoe of the Co l 1, Council NOT APPROVED FEB 6 1985 ADOPTED /i IRENE GAMMON CITY CLERK, SO. BEND, U'4