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

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RESOLUTION NO. "1 a—ty A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS THE SOUTHWEST CORNER OF OLD CLEVELAND ROAD AND KENMORE STREET 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 pur- pose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as the Southwest corner of Old Cleveland Road and Kenmore Street and 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. as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Reso- lution and the public hearing before the Council has been pub- lished 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 qualifi- cations 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 real property tax abatement only and is limited to five (5) calendar years from the date of adoption of the Declaratory Resolution by the Com- mon 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. FILED IN CLE M'S OFFICE PRESENTED 6?3't T e NOT APPROVED 1 s . '- M- 'r of the Co'' o C.• ncil ADOPTED 6-46-85/ Irene Gammon _ _ a.emote MUTH RFND.IND.