HomeMy WebLinkAboutConfirming Tax Abatement - Interplastic Corp Molding Products Division 1545 S. Olive (10 Year Real Property)Attest
RESOLUTION
NO. 2301 -95
Passed by the Common Council of the City of South Bend, Indiana,
November 13,19 X95
Clerk
Presented by me to the Mayor of the City of South Bend, Indiana
November 14, 95
19
of Common Council.
Approved and signed by me I Vo \1"&4, �J"C—�' 19 1 -'�7
M
Clerk
Mayor
RESOLUTION NO. c� 301 AJ
A RESOLUTION CONFIRMING THE ADOPTION OF
A DECLARATORY RESOLUTION DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS
1545 South Olive
South Bend, Indiana
TO BE AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN -YEAR REAL PROPERTY TAX ABATEMENT FOR
Interplastic Corporation
Molding Products Division
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 1545 South
Olive, South Bend, Indiana, and which is more particularly described as follows:
A part of the Southeast Quarter of the Northwest Quarter and a part of
the Northeast Quarter of the Southwest Quarter all in Section 15,
Township 37 North, Range 2 East, City of South Bend, St. Joseph
County, Indiana more particularly described as follows: Commencing
at the center of said Section 15, thence South along the North -South
centerline of said Section 15, 85.69 feet; thence South 89 °52'00"
West, 30.00 feet to the West line of Olive Street, said point being the
true place of beginning; thence continuing South 89 °52'00" West,
370.00 feet; thence North 00 °00'00" East, 77.56 feet to a point which
is 25 feet Southeasterly, by radial measurement from the centerline of
the New Jersey, Indiana & Illinois Railroad Company's "Studebaker
Spur" and known also as ICC Tract No. 77; thence Northeasterly on a
curve to the left having a radius of 844.02 feet and parallel to and
25 feet Southeasterly by radial measurement from the centerline of said
track, through a central angle of 17 °21'00 ", a chord distance of 254.61
feet which bears North 64 °20'57" East, an are distance of 255.58 feet
to the point of said curve; thence North 56 °45'48" East, parallel and
25 feet South of the centerline of said ICC Track No. 77, 41.66 feet;
thence North 89 °52'00" East, 105.64 feet to a point on the West line of
Olive Street; thence South 00 °00'00" West along said West line,
210.00 feet to the place of beginning.
with said real estate having the following Key Number 18- 8075- 285101, as an Economic Revitalization
Area; and
WHEREAS, notice of the 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
1
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 real 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 H. The Common Council hereby determines that the property owner is qualified for and is
granted real property tax deduction for a period of ten (10) 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.
PRESENTED
NOT APPROVED r
ADOPTED I I- 1,3 - 9 S
Member of the Common Council