HomeMy WebLinkAboutConfirming Tax Abatement - Gainey Realty & Investment Corp. 137 S. Olive St. (10 Year Real Property)NRES9OL2UTION
Passed by the Common Council of the City of South Bend, Indiana
November 23, ig92
Attest: 41e" _al "---'� City Clerk
Presented by me to the Mayor of the City of South Bend, Indiana
November 24, 92
19
of Common Council.
l City Clerk
Approved and signed by me_ ��"'�_ 199-1�—.
Mayor
RESOLUTION NO_ -A?fA7 a
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS 137 SOUTH OLIVE
STREET, SOUTH BEND, INDIANA 46619 TO BE AN ECONOMIC
REVITALIZATION AREA FOR PURPOSES OF A TEN YEAR REAL
PROPERTY TAX ABATEMENT FOR GAINEY REALTY AND INVESTMENT
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 137 South
Olive Street and which is more particularly described as follows:
A lot or parcel of land situated in part of the Northwest quarter of Section 10,
Township 37 North, Range 2 East, South Bend, Indiana described as follows, viz:
Beginning at a point on the West line of Olive Street that is 20 feet West and
952.1 feet North of the Southeast corner of the Northwest Quarter of Section 10,
Township 37 North, Range 2 East; thence North 89 037' West 250 feet; thence South
113 feet; thence North 89 °37'30" West 240.15 feet; thence North 0 01'40" East
989.24 feet to the southerly right -of -way line of the New York Central Railroad:
thence South 64 °43'20" East 541.62 feet along said Southerly right -of -way line to
the West line of Olive Street; thence South 17.33 feet along said West line;
thence West 100 feet; thence South 80 feet; thence East 100 feet to the West line
of Olive Street; thence South 551.01 feet along said West line to the place of
the beginning. With said real estate having the following KEY NO. 38056 -11904
and 38286- 32404.
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
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 1. 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) years from the date of adoption of the Declaratory
Resolution by the Common Council_
SECTIOii 11. 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 at sea.
SECTIOid 1U. This resolution shall be in full force and effect from and after
its adoption by the Common council and approval by the Mayor.
MM'MER of • I •
Filed in Clerk's Office
Mm" i/- a-!? - 91� Nov % 3 :; 2
NOT APPROVED
IRENE GAMMON
ADOPTED !/, '� 9� 1 CITY CLERK, SO.OENb,