HomeMy WebLinkAboutNo. 1710 approving an application for personal property tax deduction (Lock Joint Tube, Inc./KeyCorp. Capital Leasing/Steel Warehouse Co. Inc./LJT No. 1, LLC - 1215 S. Walnut St.)RESOLUTION NO. 1710
A RESOLUTION APPROVING AN APPLICATION FOR
PERSONAL PROPERTY TAX DEDUCTION
WHEREAS, I. C. 6- 1.1- 12.1 -2(1) provides that an application for property tax deduction may
not be approved when the property is located in an allocation area as defined in I.C. 36- 7- 14 -39,
unless the Redevelopment Commission which designated that allocation area adopts a resolution
approving that application; and
WHEREAS, the South Bend Common Council has received a petition for five years of
personal property tax abatement consideration from Lock Joint Tube, Inc./KeyCorp Capital
Leasing /Steel Warehouse Co. Inc. /LJT No. 1, LLC for personal property located at 1215 South
Walnut Street in the Sample -Ewing Development Area, the legal description of which is attached
hereto, marked Exhibit "A" and incorporated herein; and
WHEREAS, this Commission declared the Sample -Ewing Development Area by Resolution
No. 1222, adopted February 4, 1994, and in the same resolution declared the Sample -Ewing
Development Area, Allocation Area No. 8; and
WHEREAS, the property located at 1215 South Walnut Street is located within the Sample -
Ewing Development Area, Allocation Area No. 8;
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission
as follows:
1) The Commission finds that the application from Lock Joint Tube, Inc./KeyCorp Capital
Leasing /Steel Warehouse Co. Inc./LJT No. 1, LLC for five years of personal property tax abatement
consideration for property located at 1215 South Walnut Street in the Sample -Ewing Development
Area, Allocation Area No. 8, is hereby approved.
2) That a copy of this resolution be forwarded to the South Bend Common Council to
indicatethe Commission's approval of the petition for personal property tax abatement for Lock Joint
Tube, Inc./KeyCorp Capital Leasing /Steel Warehouse Co. Inc./LJT No. 1, LLC .
Approved this 17th day of September 1999 at the regular meeting of the South Bend
Redevelopment Commission.
S D REDF .ELOPMENT COMMISSION
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ATTEST:
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W. Hunt, President
C x 1114t r A
LEGAL DESCRIPTION FOR PROJECT PROPERTY
A tract of land in the City of South Bend, C''ounty of St. Joseph, and `eta tc of Indiana,
situated in the Northwest 1/4 of Section 14, and the Northeast 1/4 of `'section 15, Township
37 North, Bange `l l:-ast, bounded by the following described title: Beeginning at a point in
the West line of Walnut Street, 682. 75 feet south of the South line of Sample Street,
which point !s 31 feet :youth of the ;outs: line of the Sanders and Erbert Tract, as conveyed
by deeds recorded In Teed Record 118, rage 426 and need record 121, Page 320; thence
orl 8n tassumed bearing of South 0`10:1149" L•:ast along said `z'est line: of tip; "al -iut Street,
558.95 Peet; thence South 69055'05''' Wost, 1200 feet; thence North 0 °00149" West parallel
with said West line of Walnut 'Street, 5fS9.19 feet to a point 651. 75 feet south c:i the
eouth line of Sanip1P Street or the produced South tine of the tract conveyed to F. C.
I'�aff, recorded in t-erd iiec;ord 172 Page 641; thence South 89`57110 "**cast along the
South 11ne above described tract produced East, 295 feet; thence South 000049"
�:ast parallel -,vith the N-Vest line of Walnut :street, 31 feet; th::nc:e Nc:>rLh 90057116''
Eayt, 905 feet to the place of beginning, containing 15. 565 acres, more or lcs.;.
The foregoing legal description includes tax parcel no. 18- 8021 - 084504.