Designating Tax Abatement - Central Downtown Urban Renewal Area 115 W. Colfax (5 Year Real Property)

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RESOLUTION NO. mo3 - gy A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS 115 WEST COLFAX, SOUTH BEND, INDIANA AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT.. WHEREAS, a petition for real property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 115 West Colfax, South Bend, Indiana, and which is more parti- cularly described as follows: PARCEL I: A lot or parcel of land 66 feet in width, East and West, taken off of and from the entire length of the East end of Lot Numbered 7 as shown on the Ori- ginal Plat of the Town, now City, of South Bend, St. Joseph County, Indiana . PARCEL II : Part of Lot Numbered 8 in the Original Plat of the Town, now City, of South Bend, St. Joseph County, Indiana, described as follows: Beginning at the Southeast corner of said Lot Numbered 8; thence West 88 .33 feet along the South line of said Lot Num- bered 8 to a point East 77..29 feet of the Southwest corner of Lot Numbered 8; thence North 35 feet; thence East 88.34 feet to the East line of Lot Numbered 8; thence South 35 feet to the point of beginning . PARCEL III : A parcel of land being a part of Lots 8 and 9 on the Original Plat of the Town, now City, of South Bend, Indiana as recorded in the Office of the Recorder of St.. Joseph County, Indiana, being more particularly described as follows , viz: Beginning at a point on the North line of said Lot 9 , a distance of 36 .00 feet North 89-47 ' -20" West of the Northeast cor- ner of said Lot; thence South 0-01' -52" East, parallel with the West line of a 14 foot wide public alley, a distance of 52 .34 feet; thence North 0-03 ' -17" West, a distance of 97 .07 feet to said North line of Lot 9; thence South 89-47 ' -20" West, along said North line, a distance of 52.38 feet to the place of beginning . 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 Resources 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 real property tax abatement.