Designating Tax Abatement - Phasde I - Airport Industrial Park (5 Year Real Property)

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RESOLUTION NO. I IRS"- R A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS PHASE I - AIRPORT INDUSTRIAL PARK AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. WHEREAS, a petition for real property tax abatement consid- eration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as Phase I- Airport Industrial Park, South Bend, Indiana, and which is more particularly described by a line drawn as follows: A tract or parcel of land located in the Southwest Quarter of the Northeast Quarter of Section 33, Township 38 North, Range 2 East, more particularly described as follows: Beginning at a point which is One Hundred Ninety-five and Eighteen Hundredths (195.18) feet North and Eight Hundred Fifty-five and Fifty-four Hundredths (855.54) feet Easterly of the center of said Section 33, said point being on the North line of Pioyress Drive; thence North 0° 19' 51" East a distance-of Four Hundred Sixty-eight and Seventy-three Hundredths (468.73) feet to the South line of the St. Joseph County Airport; thence South 89° 59' 38" East on and along the South line of said St. Joseph County Airport a distance of Four Hundred Thirty-nine and Ten Hundredths (439.10) -feet; thence South 0° 18' 51" West a distance of Four Hundred Seventy and Sixty-five Hundredths (470.65) feet to the North line of Prvysess Drive; thence North 89° 40' 09" West a distance of Four Hundred Thirty-nine and - Seventy-one Hundredths 1439.71) feet to the point of-beginning. be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1-1, et seq.; and WHEREAS, the Redevelopment Commission has concluded an in- vestigation 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 Cam on 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 designa- ting this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION II. That this designatiqp '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 published, said publication providing notice of the public hearing before the Common Council on said declaration.