07-28-97 Council Meeting Minutes

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REGULAR MINUTES JULY 28, 1997 A tract of land in the west half (1/2) of the northwest quarter (1/4) of Section Fifteen (15), Township Thirty -seven (37) north, range two (2) east, now within and a part of the City of South Bend, St. Joseph County, Indiana, more particularly described as follows: Beginning at the center of the northwest quarter (1/4) of said Section Fifteen (15), thence south along the north and south center line of said quarter section two hundred twenty (220) feet to the north line of Tucker Drive; thence West along said north line of the west line of said Section Fifteen (15); thence north along said west line one hundred twenty -eight and one tenth (128.1) feet, more or less, to a line two hundred fifty (250) feet by rectangular measurement southeasterly from and parallel to the original centerline of the New York Central Railroad right -of -way; thence northeasterly parallel to and two hundred fifty (250) feet by rectangular measurement southeasterly from said original centerline of the New York Central Railroad right - of -way, seven hundred twenty seven and one - hundredth (727.01) feet, more or less, to a point on the east line of the southwest quarter (1/4) of the northwest quarter (1/4) of the northwest quarter (1/4) of the northwest quarter (1/4) of Section Fifteen (15); thence east along said south line six hundred sixty -three and fifty two hundredths (663.52) feet, more or less, to the place of beginning, excepting thirty (30) feet off the east side thereof for purposes of public highway. A part of the southwest quarter of the northwest quarter of Section 15, Township 37 north range 3 east in the city of South Bend, Indiana more particularly described as follows: Beginning at a point 260 feet south and 25 feet west of the northeast corner of said southwest quarter of the northwest quarter; thence west 540 feet; thence south parallel with the east line of said southwest quarter of the northwest quarter, 324.25 feet to a point 172 feet north of the north line of the right -of -way of the Indiana Northern Railway Company; thence east parallel with said north line of said right -of -way, 540 feet; thence north parallel with the east line of said southwest quarter of the northwest quarter, 320.75 feet to the place of beginning. and this property has Key Number 18 -8075 284406, 18 8075 2843, 18 8075 284403, 18 8075 28404, 18 8075 284502, 18 8075, 284503, 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 seq.: 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 segue and South Bend Municipal Code Sections 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. 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 pursuant to Indiana Code 6 -1.1- 12.1 -4.5, that: (a) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of that