Confirming Tax Abatement - Clark Equipment Corp. 2301-2303 Bendix Dr. (5 Year Real Property)

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RESOLUTION NO. (a04.- 0 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS 2301-2303 Bendix Drive 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 purpose of tax abatement consid- eration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 2301-2303 Bendix Drive and more particularly described by a line drawn as follows : LEGAL DESCRIPTION A part of the South east Quarter of Section 28, Township 38 North, Range 2 East, German Township, St. Joseph County, Indiana, described as follows : Commencing at the southeast corner of said Section; thence North 90 degrees 00 minutes 00 seconds West 47.0 feet along the south line of said section; thence North 0 degrees 00 minutes 00 seconds West 40 feet to a point on the north boundary of Lathrop Street , said point being the point of beginning of this description: thence North 0 degrees 00 minutes 00 seconds West 749 . 36 feet; thence Southeasterly 540 .34 feet along an arc to the right having a radius of 506.47 feet and subtended by a long chord having a bearing of South 56 degrees 32 minutes 00 seconds East and a length of 515. 09 feet to the West boundary of Bendix Drive; thence South 0 degrees 02 minutes 06 seconds East 435 . 34 feet along said boundary; thence South 44 degrees 54 minutes 22 seconds West 42 .43 feet to the north boundary of Lathrop Street; thence North 90 degrees 00 minutes 00 seconds West 400. 00 feet along said north boundary to the point of beginning and containing 6. 545 acres , more or less . The above described tract of land is subject to a perpetual ease- ment 40 feet in width off the entire northeast side in favor of Chicago South Shore and South Bend Railroad. Also, a perpetual easement 10 feet in width lying adjacent to and south of the above described 40 foot wide easement in favor of Indiana Bell Telephone Company. The bearing of the south line of the southeast quarter of Section 28 is assumed North 90 degrees 00 minutes 00 seconds West . 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 Declara- tory 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 ) calen- dar 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. MEWED 9 - aq—E y NOT APPROVED �_ M• �he mon Council ADOPTED nj - ;c.( - !/