Designating 3202 W. Sample as an Urban Development Area for Purposes of Tangible Personal Tax Abatement Consideration

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RESOLUTION NO. A51‘-4:7 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATING CERTAIN AREAS WITHIN THE CITY COMMONLY KNOWN AS 3202 W. SAMPLE AN URBAN DEVELOPMENT AREA FOR PURPOSES OF TANGIBLE PERSONAL 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 at 3202 West Sample Street, SouthBend, 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 : Part of the Northwest Quarter (1/4) of the Northwest Quarter (1/4) of Section fifteen (15) , Township Thirty-seven (37) North, Range Two (2) East, described as beginning on the South line of Sample Street, (now 70 feet wide) One Hundred Sixty-five (165) feet East and Thirty-five (35) feet South of the Northwest corner of said Quarter (1/4) Quarter (1/4) Section, running thence East along the South line of Sample Street One Hundred Sixty-five (165) feet; thence South Seven Hundred Fourteen and One Hundredth (714 . 0) feet to the Northerly right-of-way line of the New Jersey, Indiana and Illinois Railroad; thence Southwesterly along said right-of- way Three Hundred Sixty-one (361) feet to the West line of said Quarter (1/4) Quarter (1/4) Section; thence North along said West line Six Hundred Thirty-one and Twenty-two Hundredths (631 . 22) feet; thence East One Hundred sixty-five (165) feet; thence North Two Hundred Twenty-nine (229) feet to the place of beginning. WHEREAS, the Redevelopment Commission has conducted an in- vestigation 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 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 Economic Development Committee that the area herein described be designated 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 years (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 requests the City Clerk to submit this Resolution along with the supporting data to the Area Plan Commission for its written order approving or disapproving this Resolution. SECTION IV. 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.