HomeMy WebLinkAboutConfirming Tax Abatement - Ricasso, Inc. 2603 Foundation Dr. (5 Year Personal Property)RESOLUTION
NO. 1957 -92
Passed by the Common Council of the City of South Bend, Indiana
June
22,
19 92
Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
June
Approved and signed by me
23, 92
9
June 23
City Clerk
19 92 .
Mayor
RESOLUTION NO. AW S- 7 -y'a
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
2603 FOUNDATION DRIVE, AIRPORT INDUSTRIAL PARK
SOUTH BEND, INDIANA
TO BE AN ECONOMIC
REVITALIZATION AREA FOR PURPOSES OF A FIVE YEAR
PERSONAL PROPERTY TAX ABATEMENT FOR
RICASSO, INC.
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 2603
Foundation Drive, Airport Industrial Park, South Bend, Indiana 46628 and which is more
particularly described as follows:
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.
with said real estate having the following Key No. 25- 1010040002, 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
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.
EJS01004
ftEUNTED
NOT AP?20V*
ADOPTED
-2-
Member of the Common Council
Filed in Clm d :iEf
MAY 8 !1,