Confirming Tax Abatement - South Bend Forge Inc. 2930 Foundation Dr. (5 Year Personal Property)

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RESOLUTION NO. IQ n-$3 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS SOUTH BEND FORGE INCORPORATED, 2930 FOUNDATION DRIVE, SOUTH BEND, INDIANA, 46628, TO BE AN ECONOMIC REVITALIZATION AREA FOR THE PURPOSE 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 purposes of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 2930 Foundation Drive, South Bend, and more particularly described by a line drawn as follows: Part of the North Half of Section 28, Township 38 North, Range 2 East, Second Principal Meridian, City of South Bend, St. Joseph County, Indiana, more particularly described as follows: Commencing at the East Quarter corner of said Section 28; thence south 89°58 '45" West along the South line of the Northeast Quarter of said Section 28, 2314.41 feet; thence North 0 000 '47" East 120.00 feet to the North boundary of Boland Drive, also being the point of beginning; thence North 89°00 '47" East 120.00 to the north boundary of Boland Drive, also being the point of beginning; thence North 89°58 '56" West along said North boundary 447.83 feet; thence North 45°00 ' 09" West 14.14 feet to the East boundary of Foundation Drive; thence North 0°00 '47" East along said East boundary 747.96 feet; thence North 89°44 '14" East 458.26 feet; thence South 0°01 '41" West 759.90 feet to the point of beginning, containing 7.979 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 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 qualifications 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 purposes of tax abatement. Such designation is for personal 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. 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. WIC em•er o t e Co r Counci FILED Ili CLE M 'S OFFICE PRESENTED 7 -ni r-13 JUL 201983 NOT APPROVED ADOPTED 7- 129 Irene Gammon CITY CLERK,SOUTH REND,IND.