Confirming Tax Abatement - 3707 W. Lathrop St. (5 Year Real Property)

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RESOLUTION NO. 147 /43 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COMMONLY KNOWN AS 3707 WEST LATHROP STREET, 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 purpose of tax abatement consideration; and WHEREAS , a Declaratory Resolution designated the area commonly known as 3707 West Lathrop Street, South Bend, Indiana, and more particularly described by a line drawn as follows : A parcel of land in part of the Southeast Quarter of Section 28, Township 38 North, Range 2 East, German Township, St. Joseph County, Indiana, de- scribed as follows : Commencing at the Southeast corner of said Section; thence North 90 degrees 00 minutes 00 seconds West 1878. 68 feet along the South line of said Quarter Section; thence North 0 degrees 05 minutes 56 seconds East 40 .00 feet to a point on the North boundary of Lathrop Drive, thence North 90 degrees 00 minutes 00 seconds West, 445. 36 feet along said boundary; thence North 0 degrees 00 minutes 47 seconds East 488. 34 feet; thence North 90 degrees 00 minutes 00 seconds East 446 . 09 feet; thence South 0 degrees 05 minutes 56 seconds West 488 . 33 feet to the point of beginning. Said tract being Lot 6-2 Airport Industrial Park, Phase III , as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution 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 purpose of hearing all remonstrances and objections from interested persons ; and WHEREAS , the Council has determined that the qualifica- tions 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 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 .