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REGULAR MEETING <br />NOVEMBER 24, 1997 <br />51046'11" W. and having a distance of 62.87 ft.; thence <br />around a 210.00 ft. radius curve to the right an arc <br />distance of 77.97 ft. to the end of a chord which bears N. <br />65047120" and having a distance of 77.52 ft.; thence around <br />a 586.97 ft. radius curve to the left an Arc distance of <br />357.00 ft. to the end of a chord which bears N. 72034135" W. <br />and having a distance of 351.52 ft.; thence S. 90000'00" W., <br />268.26 ft.; thence N. 00022117" E., 169.87 ft.; Thence N. <br />69021101" E. 771.91 ft; (771.89 ft., record); thence N. <br />00002106" E., 152.84 ft.; thence S. 90000'00" W., 125.00 <br />ft.; thence S. 00o02106" E., 264.00 ft.; thence N. 90000'00" <br />E., 125.00 ft.; thence S. 00002'06" E., 123.38 ft. to the <br />point of beginning. Containing 4.92 acres. <br />and which has Key Number 25 1010040804, be designated as an <br />Economic Revitalization Area under the provisions of Indiana Code <br />6 -1.1- 12.1 -1 et. seq. and South Bend Municipal Code Sections 2 -76 <br />Et Seq. <br />Whereas, the Department of Economic Development has <br />concluded an investigation and prepared a report with information <br />sufficient for the Common Council to determine that the area <br />qualifies as an Economic Revitalization Area under Indiana Code <br />6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Sections 2- <br />76, et seq., and has further prepared maps and plats showing the <br />boundaries and such other information regarding the area in <br />question as required by law; and <br />Whereas, the Human Resources and Economic Development <br />Committee of the Common Council has reviewed said report and <br />recommended to the Common Council that the area qualifies as an <br />Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the <br />City of South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that <br />the Petition for Real Property Tax Abatement and the Statement of <br />Benefits form completed by the Petitioner meet the requirements <br />of Indiana Code 6 -1.1- 12.1 -1 et seq., and qualifies under the <br />relevant provisions of South Bend Municipal Code Sections 2 -76 et <br />seq., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds the <br />following: <br />A. That the description of the proposed redevelopment or <br />rehabilitation meets the applicable standards for such <br />development. <br />B. That the estimate of the value of the redevelopment or <br />rehabilitation is reasonable for projects of this nature; <br />C. That the estimate of the number of individuals who will <br />be employed or whose employment will be retained by the <br />Petitioner can reasonably be expected to result from the <br />proposed described redevelopment or rehabilitation; <br />D. That the estimate of the annual salaries of those <br />individuals who will be employed or whose employment will be <br />retained by the Petitioner can be reasonably expected to <br />result from the proposed redevelopment or rehabilitation. <br />E. That the other benefits about which information was <br />requested are benefits that can be reasonably expected to <br />result from the proposed described redevelopment or <br />rehabilitation; and <br />G. That the petition qualifies as a special exception under <br />Section 2 -84 of the South Bend Municipal Code since there is <br />J <br />1 <br />