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REGULAR MEETING <br />JUNE 25, 2001 <br />seconds East along the North right -of -way line of said F. Jay Nimtz <br />Parkway (80 foot right -of -way) a distance of 477.78 feet to a one <br />inch pipe with a cap stamped "M &B 13" marking the point of <br />curvature of a tangent curve to the right having a radius of 1640.00 <br />feet and a central angle of 21 degrees 47 minutes 52 seconds; thence <br />Eastwardly and Southeastwardly along the North right -of -way line of <br />said F. Jay Nimtz Parkway and along said curve a distance of 623.93 <br />feet; thence North 00 Degrees 19 minutes 53 seconds West parallel <br />with the East line of land conveyed to the Board of Aviation <br />Commissioners of St. Joseph County, Indiana in Deed Record 246, <br />Page 274 a distance of 540.72 feet; thence North 89 degrees 47 <br />minutes 15 seconds West parallel with the North line of the Southeast <br />Quarter (SE1 /4) of said Section 20 and the North line of said <br />Commissioners Land a distance of 1082.81 feet; thence South 00 <br />degrees 11 minutes 51 seconds West parallel with the East line of <br />land conveyed to the State of Indiana in Deed Record 538, Page 72 <br />a distance of 433.76 feet to the place of beginning of this description; <br />and which has Key Number 25- 1018 - 0628.03 be designated as an Economic Revitalization Area <br />under the provisions of Indiana Code 6 -1.1 -12.1 et sea., and South Bend Municipal Code Sections <br />2 -76 et seq., and; <br />WHEREAS, the Department of Community and Economic Development has concluded an <br />investigation and prepared a report with information sufficient for the Common Council to determine <br />that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1 -12.1, et sea., <br />and South Bend Municipal Code Sections 2 -76, et sea., and has further prepared maps and plats <br />showing the boundaries and such other information regarding the area in question as required by law; <br />and <br />WHEREAS, the Community and Economic Development Committee of the Common <br />Council has reviewed said report and recommended to the Common Council that the area qualifies <br />as an Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds pursuant to Indiana Code <br />6 -1.1- 12.1 -4.5 et. seq., that: <br />a. The estimate of the cost of the new manufacturing equipment is reasonable for <br />equipment of that type; <br />b. That the estimate of the number of individuals that will be employed or whose <br />employment will be retained by the Petitioner can reasonably be expected to result <br />from the proposed installation of new manufacturing equipment; <br />That the estimate of the annual salaries of those individuals that will be employed or <br />whose employment will be retained by the Petitioner can be reasonably expected to <br />result from the proposed installation of new manufacturing equipment. <br />d. Any other benefits about which information was requested are benefits that can be <br />reasonably expected to result from the proposed new manufacturing equipment; and <br />e. The totality of benefits is sufficient to justify the deduction requested. <br />SECTION II. The Common Council hereby determines and finds that the proposed new <br />manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement <br />