Designating 1137 S. Lafayette Blvd. as an Urban Development Area for Tangible Personal Property Tax Abatement Consideration

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RESOLUTION NO. /603_ J-2. . A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA DESIGNATING 1137 S. LAFAYETTE BLVD. 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 pursant to Section 2-76 of the Municipal Code for the tangible personal property to be located at 1137 South Lafayette Blvd., South Bend, Indiana. WHEREAS, the legal description of the facility in which the tangible personal property is to be located is more particularly described by a line drawn as follows: Beginning at the SW corner of Lot 7, Stull's Second Edition; Thence, N along the E right-of-way of an alley a distance of 269.06 feet + or - to a point; Thence, E a distance of 6 feet to a point; Thence, N along a line parallel to the eastern right-of-way of said alley a distance of 54 feet to a point; Thence, W a distance of 6 feet to the eastern edge of said alley; Thence, N a distance of 13 feet to a point, said point being the NW corner of the S 1/2 of Lot 64, South Bend City Edition; Thence, E along the northern boundary of said %2 of Lot 64 which is on the western right-of-way of Lafayette Blvd. ; Thence, S a distance of 275 feet + or - to the SE corner of Lot 6, Stull's Second Edition; Thence, W a distance of 125 feet to a point; Thence, S 66 feet to a point; Thence, W 40 feet to the point of beginning. All being eithin the City of South Bend, County of St. Joseph, State of Indiana. 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 Ecomonic Development Committee of the Common Council has review 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 deducation 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 Ecomonic Development Committee that the area herein described be designated an Urban Development Area, and that the tangible personal property to be located at scuh location is entitled to a deduction from the assessed value of the equipment for a period of five (5) years. SECTION II. The Common Council hereby adopts a resolution designating this area as an Urban Development Area for purposes of personal property tax abatement. SECTION III. The Common Council directs the City Clerk, upon the receipt of the report of the Area Plan Commission to cause notice of the adoption of this Resolution to be published. Said publication shall provide notice of the public hearing before the Common Council of said declaration. SECTION IV. This Resolution shall tra' full force and effect from and after its adoption by the Common Counciapproval by the ay. . Member of the Common Council FILED IN CLERK'S OFFICE PRESENTED /0 `RS'8.Z OCT 2 1°SZ NOT APPROVED Irene Gammon CITY CLERK,SOUTH BEND,IND. 'ADOPTED %O -a o--8 L