Confirming Tax Abatement - Cresent Realty Corp. 316 E. Monroe (5 Year Real Property)

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RESOLUTION NO. t■56-$q A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS 316 E. MONROE 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 abate- ment consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 316 E MONROE and more particularly described by a line drawn as follows : A parcel of land being lots 4 ,5,6 ,8 ,9 , and 10 , and a vacated 10 foot wide alley lying adjacent to said Lot 8 , in George R. Hudson' s Subdivision of parts of lots 19 and 20 in Denniston and Fellow' s Addition, South Bend, Indiana, and being more particularly described as follows, viz : Beginning at the intersection of the South right-of-way line of Monroe Street (82. 5 feet wide) and the West right-of-way line of Columbia Street (66 feet wide) , said intersection being the Northeast corner of Lot 4 in said George R. Hudson's Sub- division; thence South 0°-00 '-00" West (bearing assumed) along said west line of Columbia Street and the East lines of Lots 4 , 8 , 9 , and 10 in said subdivision, a measured distance of 264.76 feet to the southeast corner of said lot 10; thence North 89°-36 '-01" West, along the South line of said lot 10, a measured distance of 132. 69 feet to the Southwest corner of said lot 10; thence North 0°-10 '-35" West, along the west lines of said lots 10 ,9 , and 8 , and said line projected, a measured distance of 150. 11 feet to a point on the south line of lot 6 in said subdivision; thence North 89°-56 '-26" West, along the south line of said lot 6 , a measured distance of 15.86 feet to the southwest corner of said lot 6; thence North 0°-19 '-13" East, along the West line of said lot 6 , a measured distance of 114. 13 feet to the northwest corner of said lot 6; thence South 89°-50 '-14" East, along the north line of lots 6 ,5 , and 4 in said subdivision and said south line of Monroe Street, a measured distance of 148 . 37 feet to the point of beginning, containing 36 , 954 .4 square feet, more or less. Subject to any easements, covenants, or restrictions of record. 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 pruposes of tax abatement. Such designation is for real property tax