Designating Tax Abatement - Southwest corner of Old Cleveland Rd. & Kenmore St. (5 Year Personal Property)

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RESOLUTION NO. )l(as -k1 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS SOUTHWEST CORNER OF OLD CLEVELAND ROAD AND KENMORE STREET AN ECONOMIC REVITILIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT. WHEREAS, a petition for personal property tax abate- ment consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as the Southwest corner of Old Cleveland Road and Kenmore Street, South Bend, Indiana, and which is more particularly described as follows: A part of the Northeast Quarter of Section 28, Township 38 North, Range 2 East, City of South Bend, St. Joseph, Indiana, described as follows: Commencing at the Northeast corner of said Section 28; thence South 89°48'05" West (the bearing of the south line of the Southeast Quarter of Section 28 is assumed North 90°00' 00" West) a distance of 1345.00 feet along the north line of said Northeast Quarter; thence South 0°00' 23" West a distance of 50.00 feet to the western boundary of Kenmore Street and the point of beginning thence South 0°00' 23" West a distance of 146.47 feet along said western boundary; thence Southerly along said boundary 297. 10 feet along an arc to left having a radius of 1949.86 feet and subtended by a long chord having a bearing of South 4°21 '31" East and a length of 296.77 feet; thence South 89°48'05" West a distance of 499.31 feet; thence North 0°02' 41" East a distance of 452. 50 feet to the South boundary of Cleveland Road; thence North 89°48'05" East a distance of 466.42 feet along said south boundary, thence South 45°05' 46" East a distance of 14. 12 feet to the point of beginning, and containing 5.000 acres, more or less. be designated as an Economic Revitalization Area under the pro- visions of Indiana Code 6-1.1-12. 1-1, et seq. ; and WHEREAS, the Redevelopment Commission has concluded an investigation 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 show- ing the boundaries and such other information as required by law of the area in question; and WHEREAS the Human Recources 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 desig- nated an Economic Revitalization Area and hereby adopts a reso- lution designating this area as an Economic Revitalization Area for purposes of personal 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.