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REGULAR MEETING <br />OCTOBER 12, 1998 <br />(d) any other benefits about which information was <br />requested are benefits that can be reasonably expected <br />to result from the proposed installation of new <br />manufacturing equipment; and <br />(e) the totality of benefits is sufficient to justify the <br />deduction requested. <br />SECTION II. The Common Council hereby determines and finds <br />that the proposed new manufacturing equipment can be reasonably <br />expected to yield the benefits identified in the State of <br />Benefits as set forth in Section 1 through 3 of the Petition for <br />Personal Property Tax Abatement Consideration and that the <br />Statement of Benefits form completed by the Petitioner, said form <br />being prescribed by the State Board of Accounts, are sufficient <br />to justify the deduction granted under Indiana Code 6- 1.1 -12.1- <br />4.5. <br />SECTION III. The Common Council hereby accepts the report <br />and recommendation of the Department of Economic Development, and <br />the Human Resources and Economic Development Committee's <br />favorable recommendation, that the area herein described be <br />designated as Economic Revitalization Area for purposes of <br />personal property tax deduction for a period of five (5) years. <br />SECTION IV. The Common Council determines that such <br />designation is for personal property tax abatement only and shall <br />be limited to two (2) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the <br />property owner is qualified for and is granted property tax <br />deduction for a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to <br />cause notice of the adoption of this Declaratory Resolution to be <br />published pursuant to Indiana Code 5 -3 -1, said publication <br />providing notice of the public hearing before the Common Council <br />on said declaration. <br />SECTION VII. This resolution shall be in full force and <br />effect from and after its adoption by the Common Council and <br />approval by the Mayor. <br />/s/ Sean Coleman <br />Member of the Common Council <br />RESOLUTION NO. 2684 -98 A RESOLUTION OF THE COMMON COUNCIL OF <br />THE CITY OF SOUTH BEND DESIGNATING <br />CERTAIN AREAS WITHIN THE CITY OF SOUTH <br />BEND, INDIANA, COMMONLY KNOWN AS 3605 <br />WEST CLEVELAND RD. AN ECONOMIC <br />REVITALIZATION AREA FOR PURPOSES OF A <br />SIX (6) YEAR REAL PROPERTY TAX ABATEMENT <br />FOR FEDERAL -MOGUL SOUTH BEND, INC. <br />WHEREAS, a petition for real property tax abatement has been <br />filed with the City Clerk for consideration by the Common Council <br />of the City of South Bend, Indiana requesting that the area <br />commonly known as 3605 W. Cleveland, South Bend, Indiana, and <br />which is more particularly described as follows: <br />A tract of land in part of the east half of Section 21, township <br />38 north, range 2 east, 2nd P.M. St. Joseph County, Indiana, and <br />more particularly described as follows: <br />Beginning at a point on the east -west half section line of said <br />east half north 88 degrees 53 minutes 36 seconds East 915.58 feet <br />from the center of said Section 21, thence north 0 degrees 56 <br />minutes 57 seconds west 338.80 feet; thence north 88 degrees 53 <br />minutes 36 seconds east, parallel with the east -west half section <br />