03-25-02 Council Meeting Minutes

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REGULAR MEETING MARCH 25, 2002 West 152.00 feet of Bank Out Lot Numbered 46 in the State Bank of Indiana's First addition of Outlots in the Town, now City of South Bend. Tract II. All that part of the West 152.00 feet of the South Half (49.50) feet of Bank Out Lot 48 in the State Bank of Indiana's First Addition of Out Lots presently owned by the Mastic Corporation, and that part of the North 2.56 feet of Lot 1 in Weaver's Subdivision lying West of a line 152.00 feet East of the East line of Scott Street in the City of South Bend. Tract III. Part of Out Lot Numbered Forty -eight (48) in the State Bank of Indiana's First Addition of Outlots in the Town, now City of South Bend, and part of Lot Numbered One (1) Weaver's Subdivision, St. Joseph County, Indiana and being described as follows: Beginning at an iron pin at the Northwest corner of the East Half of said Outlot 48; thence East along the North line of said Outlot 48 a distance of 70.00 feet to an iron pipe; thence South along a line making an angle of 90 °05' with the last described course, 55.25 feet to an iron pipe; thence East on a deflection to the left 89 °39 from the last described course 151.89 feet to an iron pipe; thence South along the West line of Taylor Street, 44.06 to an iron pin at the Northeast corner of Lot 1 in Weaver's Subdivision; thence West along the South line of said Lot 48 being also the North line of said Lot 1, a distance of 115.50 feet to a cross in the concrete; thence South a distance of 2.56 feet to a drill hole; thence West along the North line of the existing alley being parallel to and 2.56 feet South of the South line of Outlot 48 a distance of 176.75 feet to an iron pipe; thence North parallel to and 152.00 feet East of the East line of Scott Street, 101.56 feet to a drill hole on the North line of said Outlot 48; thence East along said North line 70.39 feet to the point of beginning. and which has Key Number 18- 3047 -1801, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et seq., and South Bend Municipal Code Sections 2 -76 et. sea.,and; WHEREAS, the Department of Community and 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, et. seq., and South Bend Municipal Code Sections 2 -76, et seq., 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 Community 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. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of Indiana Code 6 -1.1 -12.1 et. seq., for tax abatement. -13-