HomeMy WebLinkAboutNo. 1064 approving an application for personal property tax deduction (Ricasso, Inc., 2603 Foundation Dr.)RESOLUTION NO. 1064
A RESOLUTION APPROVING AN APPLICATION FOR
PERSONAL PROPERTY TAX DEDUCTION
WHEREAS, I.C. 6 -1.1- 12.1 -2(j) provides that an application for
personal 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 Ricasso, Inc., for personal property located at 2603
Foundation Drive in the Airport Economic Development Area, the
legal description of which is attached hereto, marked Exhibit "All
and incorporated herein; and
WHEREAS, this Commission declared the Airport Economic
Development Area by Resolution No. 919, adopted February 23, 1990,
and in the same resolution declared the Airport Economic
Development Area, Allocation Area No. 1; and
WHEREAS, the property located at 2603 Foundation Drive is
located within the Airport Economic Development Area, Allocation
Area No. 1;
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Commission as follows:
1) The Commission finds that the application from Ricasso,
Inc., for five years of personal property tax abatement
consideration for property located at 2603 Foundation Drive in the
Airport Economic Development Area, Allocation Area No. 1, is hereby
approved.
2) That a copy of this resolution be forwarded to the South
Bend Common Council to indicate the Commission's approval of the
petition for personal property tax abatement for Ricasso, Inc.
Approved this 22nd day of May 1992, at the regularly scheduled
meeting of the South Bend Redevelopment Commission.
SOUTH BEND REDEVELOPMENT COMMISSION
Paula N. Auburn, President
ATTEST:
Michael Donoho, Secretary
Res1064
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EXHIBIT A
The following described premises located in the City of South Bend, St. Joseph County,
Indiana, to wit:
A tract of land in Section 28, Township 38 North, Range 2 East, German Township, St.
Joseph County, Indiana, described as:
Beginning at the Southeast corner of said Section 28, thence North 89 degrees
59'57" West on and along the South line of said Section 28, said line also
being the centerline of Lathrop Street, a distance of 1982.03 feet; thence
North 90 degrees 00'00" West on and along said South line a distance of
660.68 feet; thence South 89 degrees 59'3" West on and along said South line
a distance of 661.27 feet; thence North 0 degrees 00'18" East a distance of
40.00 feet to the North line of Lathrop Street and the Southwest corner of
Block 3 of Airport Industrial Park, Phase III; thence North 0 degrees 00'18"
East on and along the West line of said Block 3 a distance of 1260.19 feet to
the true place of beginning; thence continuing North 0 degrees 00'18" East on
and along said West line a distance of 290.40 feet; thence South 89 degrees
59'42" East a distance of 450.00 feet to the West line of Foundation Drive;
thence South 0 degrees 00'18" West on and along the West line of Foundation
Drive a distance of 290.40 feet to the centerline of Foundation Court
extended; thence North 89 degrees 59'42" West a distance of 450.00 feet to
the true point of beginning, such tract containing 3.00 acres, more or less, and
being Lot 3 -5 of the Airport Industrial Park, Phase III.
EJS01003