10-26-98 Council Meeting Minutes

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REGULAR MEETING OCTOBER 26, 1998 The motion carried. RESOLUTION NO. 2685 -98 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3605 WEST CLEVELAND ROAD TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR FEDERAL -MOGUL SOUTH BEND, 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 3605 W. Cleveland, and which is more particularly described as follows: A tract of land in part of the east half of Section 21, township 38 north, range 2 east, 2nd P.M. St. Joseph County, Indiana, and more particularly described as follows: Beginning at a point on the east -west half section line of said east half north 88 degrees 53 minutes 36 seconds East 915.58 feet from the center of said Section 21, thence north 0 degrees 56 minutes 57 seconds west 338.80 feet; thence north 88 degrees 53 minutes 36 seconds east, parallel with the east -west half section of said Section 800.00 feet; thence south 0 degrees 56 minutes 57 seconds east 1726.13 feet; thence northwesterly 550.14 feet along an arc to the right having a radius of 4463.66 feet and subtended by a long chord having a bearing of north 54 degrees 36 minutes 59 seconds west and a distance of 549.80 feet; thence north 51 degrees 05 minutes 08 seconds west 465.22 feet; thence north 0 degrees 56 minutes 57 seconds west 761.20 feet to the east -west half section line of said east half the point of beginning, and containing 26.203 acres, more or less. with said real estate having the following Key No.25 500 13100, 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 -25; and Whereas, the Council held a public hearing for the purpose 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. LJ 1 !' II �J