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

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RESOLUTION NO. ilt u-$i A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS LOT 4-4 AIRPORT INDUSTRIAL PARK PHASE III AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT . WHEREAS, a petition for real property tax abatement con- sideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as Lot 4 -4 Airport Industrial Park Phase III , South Bend, Indiana , and which is more particularly 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 dis- tance of 20 .0 feet along said south boundary to the point of beginning and containing 3 . 131 acres , more or less . 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 investi- gation 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 Commit- tee 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 real property tax abatement .