Confirming Tax Abatement - SDT Associates Lot 4-4 Airport Industrial Park Phase III (5 Year Personal Property)

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RESOLUTION NO . 11 .c - $'4 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS LOT 4-4 AIRPORT INDUSTRIAL PARK PHASE III TO BE AN ECONOMIC REVITALIZA- TION 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 Lot 4-4 Airport Industrial Park Phase III and more particu- larly described by a line drawn as follows : A part of Section 28 , Township 38 North, Range 2 East , City of South Bend, St . Joseph County, Indiana , described as follows : Commencing at the northeast corner of the Southeast Quarter of Section 28 ; thence South 89°58 ' 56" West a distance of 2294 . 41 feet along the north line of said quarter section to the point of beginning ; thence South 0°00 '47" West a distance of 247 . 17 feet ; thence South 89°58 ' 56" West a distance of 477 . 83 feet to the east boundary of Foundation Drive ; thence North 0°00 ' 47" East a distance of 277 . 17 feet along said east boundary ; thence North 44°59 ' 52" East a distance of 14 . 14 feet to the south boundary of Boland Drive ; thence North 89°58 ' 56" East a distance of 447 . 83 feet along said south boundary ; thence South 0°00 '47" West a distance of 40 . 0 feet along said south boundary; thence North 89°58 ' 56" East a distance of 20 . 0 feet along said south boundary to the point of beginning and containing 3 . 131 acres, more or less . 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 pur- suant 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 purposes of tax abatement . Such designation is for personal property tax abatement only and is limited to five (5) calendar years from the date of adoption of the Declaratory Resolution by the Common Council .