Confirming Tax Abatement - One-Three-Two Partnership LTD. 115 W. Colfax (5 Year Real Property)

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RESOLUTION NO. i l l lefty A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS 115 WEST COLFAX, SOUTH BEND, INDIANA, 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 115 West Colfax, South Bend, Indiana and more particularly 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 . 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 here- in 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 Common Council .