Designating Western End of Calvert Street as Urban Deveopment Area for Tangiable Personal Property Tax Abatement Consideration

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3/12.2 RESOLUTION NO. 9c-s' . . A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATING THE PROPERTY COMMONLY KNOWN AS THE WESTERN END OF CALVERT STREET AS AN URBAN DEVELOPMENT AREA FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION. WHEREAS, a petition for Personal Property Tax abatement consideration has been filed with the Common Council of the City of South Bend pursuant to Section 2-76 of the Municipal Code for the tangible personal property to be located in the area of South Bend, Indiana, commonly known as the Western end of Calvert Street. WHEREAS, the legal description of the facility in which the tangible personal property is to be located, is described by a line drawn as follows: A parcel of property in St. Joseph County, Indiana, Section 16, Township 37 North, Range 2 East including the east one- half of the northeast one-quarter of the southwest one- quarter of Section 16 and the north one-half of the southeast one-quarter of Section 16, EXCEPTING therefrom a certain tract of land described as beginning at the northeast corner of the southwest quarter of said Section 16; thence south 33 feet, thence west 16 feet; thence south parallel with the east line of said Section 16 367 feet, thence west parallel with the centerline of said Section 16, to the east line of the right-of-way of the New Jersey, Indiana and Illinois Railroad Company as the same has been and is now located; thence northeasterly along the easterly line of said right-of-way to the east and west centerline of said Section 16; thence along said centerline of said Section 16 to the east line thereof and the place of beginning containing 27.017 acres, more or less, and conveyed to the New Jersey, Indiana and Illinois Railroad Company by deeds recorded respectively in Deed Record 164, Page 140 and Deed Record 193, Page 191, of the records of St. Joseph County, Indiana; AND ALSO EXCEPTING therefrom the right-of-way of the New Jersey, Indiana and Illinois Railroad company and the Penn Central Railroad, now known as Conrail. Subject to all legal highways, the total parcel containing 70 acres, more or less. WHEREAS, the Redevelopment commission has conducted an investigation pursuant to Section 2-77 of the Municipal Code and prepared a report determining that there is compliance with the Statutory obsolescence and eligibility criteria under Indiana Code 6-1 .1-12.1-1 , et seq. 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 Urban Development Area, and that the tangible personal property to be located at such location is entitled to a deduction from the assessed value of the equipment for a period of five (5) years. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. 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 Urban Development Area, and that the tangible js 8/25/82