HomeMy WebLinkAboutConfirming Tax Abatement - Kokoku Wire Indutries Corp. 1217 S. Walnut St. (5 Year Personal Property)Attest:
RESOLUTION
2916 -00
Passed by the Common Council of the City of South Bend, Indiana
August 28
00
20_.
Presented by me to the Mayor of the City of South Bend, Indiana
August 29 20 00
City Clerk
President of Common Council
Approved and signed by me August 29, 20 00
City Clerk
ME
RESOLUTION NO. 2 0\
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
1217 S. WALNUT STREET, SOUTH BEND, INDIANA
TO BE AN ECONOMIC
REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR
PERSONAL PROPERTY TAX ABATEMENT FOR
KOKOKU WIRE INDUSTRIES CORPORATION
WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a
Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas
for the purpose of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area commonly known as 1217 S.
Walnut Street, South Bend, Indiana, and which is more particularly described as follows:
A tract of land in the City of South Bend, County of St. Joseph, and State of Indiana,
situated in the Northwest Quarter (1/4) of Section Fourteen (14) and the Northeast
Quarter (1/4) of Section Fifteen (15), Township Thirty -Seven (37) North, Range Two
(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 587.85 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 00
degrees 00 minutes 49 seconds East along said West line of Walnut Street 479.91
feet; thence South 89 degrees 54 minutes 12 seconds West, 725.03 feet; thence South
61 degrees 54 minutes 12 seconds West, 42.91 feet; thence South 89 degrees 23
minutes 32 seconds West, 437.13 feet; thence North 00 degrees 00 minutes 49
seconds West parallel with said West line of Walnut street, 504.26 feet; thence North
89 degrees 55 minutes 05 seconds East, 1200 feet to the place of beginning.
Subject to legal highways.
Subject to any and all easements, restrictions or rights of way of record.
Subject to any and all current; non - delinquent real estate taxes.
Subject to a Party Wall Agreement dated June 14, 1974, by and between Aldason
Corporation, an Indiana corporation and American Chain & Cable Company, Inc.,
a New York corporation, recorded June 17, 1974 in the Office of the Recorder of St.
Joseph County, Indiana, in Miscellaneous Record 285, pages 77 -80.
Subject to a Permanent Easement Agreement dated June 14, 1974, by and between
Aldason Corporation, an Indiana corporation and American Chain & Cable
Company, Inc., a New York corporation, recorded June 17, 1974 in the Office of the
Recorder of St. Joseph County, Indiana, in Deed Record 787, pages 381 -388.
and which has Key Number 18- 8021 - 084503 as an Economic Revitalization Area; and
WHEREAS, notice ofthe adoption of a Declaratory Resolution and the public hearing before
the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and
WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances
and objections from interested persons; and
WHEREAS, the Council has determined that the qualifications for an economic revitalization
area have been met.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The Common Council hereby confirms its Declaratory Resolution designating
the area described herein as an Economic Revitalization Area for the purposes of tax abatement.
Such designation is for personal property tax abatement only and is limited to two (2) calendar years
from the date of adoption of the Declaratory Resolution by the Common Council.
SECTION II. The Common Council hereby determines that the property owner is qualified
for and is granted personal property tax deduction for a period of five (5) years, and further
determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City
of South Bend and Indiana Code 6 -1.1 -12.1 et seq.
SECTION III. This Resolution shall be in full force and effect from and after its adoption
by the Common Council and approval by the Mayor.
SBDS02 RJD 204584vl
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PRESENTED f—Z_ -Oa
NOT APPROVED
ADOPTER ' _Ld-Ua
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MembM ofr e Common Council
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MY CLERK, W. 922 Xj, Jd,t