HomeMy WebLinkAboutNo. 3021 approving an application for personal property tax deduction (1217 S. Walnut St.)RESOLUTION NO. 3021
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 (5) years of personal
property tax abatement consideration from Lock Joint Tube, LLC for personal property located at 1217 South
Walnut Street in the South Bend Airport Economic Development Area, the legal description of which is
attached hereto, marked Exhibit "A" and incorporated herein; and
WHEREAS, this Commission declared the South Bend Airport Economic Development Area by
Resolution No. 1222, adopted February 4,1994, and in the same resolution declared the South Bend Airport
Economic Development Area, Allocation Area No. 1; and
WHEREAS, the property located at 1217 South Walnut Street is located within the South Bend
Airport Economic Development Area, Allocation Area No. 1;
WHEREAS, the property located at 1217 South Walnut Street is located within the Urban Enterprise
Zone;
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NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows:
1) The Commission finds that the application from Lock Joint Tube, LLC for five (5) years of
personal property tax abatement consideration for properties located at 1217 South Walnut Street in the South
Bend Airport Economic Development Area, Allocation Area No. 1, should be and is hereby approved.
2) Should the Company receive the Enterprise Zone Investment Deduction under I.C. 6- 1.1 -45 for the
same property, this Tax Abatement designation shall become null and void. The Company may not receive an
economic revitalization area deduction if it receives an enterprise zone investment deduction under I.C. 6 -1.1-
45 for the same property.
3) 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 Lock Joint Tube, LLC.
Approved this 10th day of April 2012 at the regularly scheduled meeting of the South Bend
Redevelopment Commission.
SOUTH BEND REDEVELO ENT COMMISSION
Marcia I. Jones, Pr(E�sio6nt
Marcia Jones, President
AW ATTEST:
avi -. arner, ice- esi ent
EXHIBIT A
LEGAL DESCRIPTION
Description: A tract of land in the City of South Bend, County of St. Joseph, and State of Indiana,
situated in the Northwest '/ of Section 14, and the Northeast '/ of Section 15, Township 37 North,
Range 2 East, bounded by the following described line: Beginning at a point in the West line of
Walnut Street, 1239.70 feet south of the South line of Sample Street, which point is 587.95 feet
South of the South line of the Sanders and Egbert Tract, as conveyed by deeds recorded in Deed
Record 118, Page 428 and Deed record 121, Page 320; thence on an assumed bearing of South
0 °00'49" East along said West line of Walnut Street, 479.91 feet; thence South 89'54'12" West,
725.03 feet; thence South 61'54'12" West, 42.91 feet: thence South 8923'32" West, 437.13 feet;
thence North 00 00'49" West parallel with said West line of Walnut Street 504.26 feet, thence North
89 55'05" East, 1200 feet to the place of beginning.
Tax Key No.: 18- 8021 - 084503 a/k/a 71- 08 -15- 276 - 003.000 -026
Address: 1217 South Walnut Street, South Bend, Indiana
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