Designating Tax Abatement - 3515 Boland Dr. (5 Year Personal Property)

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RESOLUTION NO. A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY, COMMONLY KNOWN AS 3515 BOLAND DRIVE, SOUTH BEND, INDIANA, AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF PERSONAL PROPERTY TAX ABATEMENT WHEREAS , a Petition For Personal Property Tax Abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 3515 Boland Drive , South Bend, Indiana, and which is more particularly described by a line drawn as follows: A part of the Northeast Quarter of Section 28, Township 38 North, Range 2 East, St . Joseph County, Indiana, described as follows : Commencing at the southeast corner of said quarter section; thence South 89 degrees 58 minutes 56 seconds West 1200 . 00 feet; thence North 0 degrees 00 minutes 23 seconds East 120 feet to the point of beginning of this description: thence South 89 degrees 58 minutes 56 seconds West 329. 55 feet along the north line of Boland Drive; thence North 0 degrees 00 minutes 23 seconds East 385 . 00 feet ; thence North 89 degrees 58 minutes 56 seconds East 339 . 55 feet ; thence South 0 degrees 00 minutes 23 seconds West 375.00 feet long the West line of Kenmore Street; thence South 44 degrees 59 minutes 40 seconds West 14 . 15 feet to the point of beginning, containing 3 .000 acres, more or less . The bearing of the south line of the Southeast Quarter of Section 28 is assumed North 90 degrees 00 minutes 00 seconds West. be designated as an Economic Revitalization Area under the provisions of Indana 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 showing 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 designated an Economic Revitalization Area and hereby adopts a resolution 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. SECTION III . That the Common Council directs the City Clerk to cause notice of the adoption of this resolution to be Page 1 of 2 Pages