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HomeMy WebLinkAboutDesignating Tax Abatement - Allied Products Corporation 601 W. Broadway St. (6 Year Real Property)RESOLUTION NO. 1640 -88 Passed by the Common Council of the City of South Bend, Indiana -7.7 F u• - City Clerk Attest: President of Common Council. Presented by me to the Mayor of the City of South Bend, September 13, 19 88 4"- /'�— City Clerk Approved and signed by me September 14, 1988 Mayor RESOLUTION NO. i 1. q A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA COMMONLY KNOWN AS 601 WEST BROADWAY STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A 6 YEAR REAL PROPERTY TAX ABATEMENT FOR ALLIED PRODUCTS CORPORATION WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 601 West Broadway Street, South Bend, Indiana, and which is more particularly described as follows: Two parcels of land being parts of the Northeast Quarter of Section 14, Township 37 North, Range 2 East, in the City of South Bend, Portage Township, St. Joseph County, Indiana, and being more particularly described as follows: All of Lots Numbered Thirty -six (36) and Thirty -seven (37) in Samuel Stull's Second Addition to the City of South Bend, Indiana; ALSO, that part of said quarter- section more particularly described as commencing at the Southeast corner of Tract No. 4 of the Studebaker Corp. Replat as recorded in Plat Book 11, page 184 in the Office of the Recorder of St. Joseph County, Indiana; thence North 0 014'00" West (bearing assumed) along the East line of said Tract No. 4 a distance of 247.35 feet to the point of beginning for this description; thence South 89 022'40" West along the South line of Broadway Street projected westerly a distance of 618.58 feet to the Southeast corner of a tract of land described in a deed to Allied Products Corp. and recorded in Deed Record 649, pages 497 -503 in said Office of the Recorder; thence North 0 °01'19" East along the East line of said tract a distance of 1165.66 feet; thence North 89 155'34" West along the North line of said tract a distance of 279.27 feet to a Southeasterly corner of a tract of land described in a deed to Cummins Engine Company, Inc., and recorded in Deed Record 650, pages 173 -183 in said Office of the Recorder; thence North 0 004'26" East along an East line of said tract a distance of 145.04 feet to the Southwest corner of a parcel of land described in a deed to Indiana and Michigan Electric Company recorded in Deed Record 652, pages 427 -433 in said Office of the Recorder; thence South 89 050'26" East, along the South line of said parcel, a distance of 100.00 feet; thence North 0 004'26" East, along the East line of said parcel and an East line of a tract described in a deed to South Bend Lathe, Inc. recorded in Deed Record 659, pages 637 -640, a distance of 120.28 feet; thence South 89 053'36" East along a South line of said tract a distance of 647.32 feet; thence South 12 °18'50" East along a Westerly line of to the East line of said Tract No. 4; thence South 0 014'00" East along said East line a distance of 870.90 feet to the point of beginning. Parcel 1: A part of the N.E. 1/4 of Section 14, Twp. 37 N., R. 2 E., more particularly described as follows: Commencing at the intersection of the North Line of the Michigan Central Railroad Right -of -Way and the East Line of Kendall Street, said point being the Southwest corner of Tract No. 4 of the Studebaker Corporation Replat, as recorded in Plat Book 11, Page 184, in the Office of the Recorder of St. Joseph County, Indiana; thence North along the East line of Kendall Street a distance of 233.93 feet to the intersection of said East line of Kendall Street with the South line of Broadway Street projected West; thence No. 89 022'40" E. along said South line of Broadway Street projected West, a distance of 149.32 ft. to the Point of Beginning; thence continuing No. 89 022'40" E. along said South line of Broadway Street projected west a distance of 505.85 ft. to a point; thence No. 00 001'19" E. a distance of 1165.66 ft. to a point; thence No. 89 055'34" W. a distance of 506.27 ft. to a point; thence S. 00 000'00" E. a distance of 1171.80 ft. to the point of beginning. Parcel 2: (a) Easement for the purpose of vehicular and pedestrian ingress and egress to and from Parcel 1, described as follows: A part of the Northeast Quarter of Section 14, Township 37 North, Range 2 East, more particularly described as follows: Commencing at the intersection of the North line of the Michigan Central Railroad Right -of -Way and the East line of Kendall Street, said point being the Southwest corner of Tract No. 4 of the Studebaker Corporation Replat, as recorded in Plat Book 11, Page 184, in the Office of the Recorder of St. Joseph County, Indiana; thence North along the East line of Kendall Street a distance of 233.93 ft. to the intersection of said East line of Kendall Street with the South line of Broadway Street projected West; thence No. 89 022'40" E. along said South line of Broadway Street projected West a distance of 655.17 feet for a point of beginning; thence continuing N. 89 022'40" E. along said South line of Broadway Street projected West a distance of 736.86 ft. to the West line of Franklin Street; thence Northerly along the said West line of Franklin Street a distance of 74.25 ft. to its intersection with the North line of Broadway Street projected West; thence S. 89 °22'40" W. along the said North line of Broadway Street projected Beginning at a point 1,402.35 feet North and 149.69 feet East of the S.W. corner of Tract No. 4 of the Studebaker Corporation Replat as recorded in Plat Book 11, Page 184 in the Office of the Recorder of St. Joseph County, Indiana, said line being also the intersection of the North Line of the Michigan Central Railroad right -of -way and the East line of Kendall Street; thence S. 00 000'00" E. a distance of 20.00 feet to a point; thence N. 89 055'34" W. a distance of 203.89 feet to a point; thence N. 00 000'00" E. a distance of 179.52 feet to a point; thence N. 88 030'58" W. a distance of 298.17 feet to the Easterly line of Prairie Avenue, said line being also the Westerly line of Tract No. 4 of the Studebaker Corporation Replat as recorded in Plat Book 11, page 184 in the Office of the Recorder of St. Joseph County, Indiana; thence N. 28 014'42" E. along said Easterly line of Prairie Avenue a distance of 22.40 feet to a point; thence S. 88 030'58" E. a distance of 307.59 feet to a point; thence S. 00 000100" E. a distance of 179.03 feet to a point; thence S. 89 055'34" E. a distance of 183.86 feet to the point of beginning. Also a part of the N.E. 1/4 of Section 14, Twp. 37 N., R. 2 E., more particularly described as follows: Beginning at a point 298.27 feet North and 149.69 feet East of the S.W. corner of tract No. 4 of the Studebaker Corporation Replat as recorded in Plat Book 11, Page 184 in the Office of the Recorder of St. Joseph County, Indiana, said line being also the intersection of the North line of the Michigan Central Railroad right -of -way and the East line of Kendall Street; thence N. 00 000'00" E. a distance of 20.00 feet to a point; thence N. 89 044'51" W. a distance of 149.18 feet to the E. line of Kendall Street, said line being also the Westerly line of Tract No. 4 of the Studebaker Corporation Replat, as recorded in Plat Book 11, Page 184 in the Office of the Recorder of St. Joseph County, Indiana; thence Southerly along the said E. line of Kendall Street a distance of 20.00 feet to a point; thence S. 89 °44'51" E. a distance of 149.21 feet to the point of beginning. (c) Easement for use of railroad purposes to and from Parcel 1, described as follows: A part of the Northeast Quarter (1/4) of Section 14, Township 37 North, Range 2 East, more particularly described as follows: Beginning at the intersection of the North line of the Michigan Central Railroad right -of -way and the East line of Kendall Street, said point being the S.W. Corner of Tract No. 4 of the Studebaker Corporation Replat, as recorded in the Plat Book 11, page 184 in the Office of the Recorder of St. Joseph County, Indiana; thence North along the East line of Kendall Street a distance of 29.90 feet for a point of Northwest and having a central angle of 20 012'58" and a radius of 360.95 feet; thence Southwesterly along said last described curve an arc distance of 127.36 feet to the point of compound curvature with a curve concave to the Northwest and having a central angle of 20 112'00" and a radius of 258.09 feet; thence Southwesterly along said last described curve an arc distance of 91.21 feet to its intersection with a curve concave to the Northwest and having a central angle of 9 029112" and a radius of 716.78 feet; thence Northeasterly along said last described curve an arc distance of 118.68 feet to the point of compound curvature with a curve concave to the Northwest and having a central angle of 35 045148" and a radius of 270.30 feet; thence Northeasterly along said last described curve an arc distance of 168.72 feet to the aforesaid South line of Broadway Street projected West; thence N. 89 022140" E. along said South line a distance of 27.40 feet to its intersection with a curve concave to the Northwest and having a central angle of 28 036151" and a radius of 295.30 feet; thence Southwesterly along said last described curve an arc distance of 147.48 feet to its intersection with a line having a bearing of N. 67 022'40" E.; thence N. 67 022'40" E. along said line a distance of 183.62 feet to the point of curvature of a curve concave to the Northwest and having a central angle of 10 009'21" and having a radius of 347.70 feet; thence Northeasterly along said last described curve an arc distance of 61.63 feet to the aforesaid South line of Broadway Street projected West; thence N. 89 022'40" E. along said South line a distance of 67.07 feet; thence S. 67 022'40" W. a distance of 294.02 feet to the point of curvature of a curve concave to the Northwest and having a central angle of 27 °17'57" and a radius of 658.57 feet; thence Southwesterly along said last described curve an arc distance of 313.92 feet to the point of tangency of said curve; thence S. 89 040'37" W. a distance of 53.02 feet to the point of beginning. All of the foregoing being situated in the City of South Bend, County of St. Joseph, State of Indiana. be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1 et sea. and South Bend Municipal Code section 2 -76 et seg.; and WHEREAS, the Department of Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6- 1.1- 12.1 -1, et sea. and South Bend Municipal Code section 2 -76, et sea., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Human Resources and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. SECTION II. The Common Council hereby determines and finds the following: A. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; B. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed described redevelopment or rehabilitation; C. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed redevelopment or rehabilitation; D. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and E. That the totality of benefits is sufficient to justify the deduction, all of which satisfy the requirements of I.C. 6 -1.1- 12.1 -3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield the benefits identified in the Statement of Benefits set forth in sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Section 6 -1.1- 12.1 -3 of the Indiana Code. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of six (6) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor.