Designating Tax Abatement - 2930 Foundation Dr. (5 Year Personal Property)

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RESOLUTION NO. /0 ( l 3 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS SOUTH BEND FORGE, INCORPORATED, 2930 FOUNDATION DRIVE, SOUTH BEND, INDIANA, 46628 . 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 South Bend Forge, Incorporated, 2930 Foundation Drive, South Bend, Indiana, and which is 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 des- cribed 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°00 ' 47" East 120 .00 feet 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 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 designa- ting 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 published, said publication providing notice of the public hearing before the Common Council on said declaration. SECTION IV. This Resolution shall be in full force and effect from and after its t bWAt1[u+r htOFfitEmmon Council and approval by the Mayor. ��LLU X11 6LL J PRESENTED \7-//-f3 J U L 61983 (Asti - NOT APPROVED Mem4er of the Commo founcil ADOPTED 7-/ti-IS Irene Gammon CITY DIEBN,SDUTN BEND,IND.