07-22-96 Council Meeting Minutes

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instead, is a commitment b fro the financing describe subject to the adoption of accordance with the provis SECTION 11. This r effect upon adoption and the City of proceed with negotiations herein with the Applicant and is bond ordinance by the City in ns of the Act. ution shall be in full force and pliance with I.C. 36 -4 -6 et seq. /s/ Roland Kelly Member of the Common Council A public hearing was held on the resolution.at this time. Council Member Luecke made motion to amend this resolution in the title to change the address to 4044, seconded by Council Member Coleman. The motion carried. Kenneth Fedder, attorney for the Economic Development Commission, made the presentation for the resolution. He indicated that the Commission was established in 1972, to helD to bring new life to the City. He indicated this inducement r solution was the first step to the issuance of these bonds for Crystal Mountain, Inc.; and the issuance of the bonds does iot obligate the City. He indicated the project qualifies for tie bonds. Council Member Coleman made a motion to adopt this reso ution, as amended, seconded by Council Member Hosinski. T e resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 2389 -96 A A CE: BE: WE; TO F0: PRi TR: BSOLUTION CONFIRMING THE ADOPTION OF ECLARATORY RESOLUTION DESIGNATING TAIN AREAS WITHIN THE CITY OF SOUTH D, INDIANA, COMMONLY KNOWN AS 213 -215 T COLFAX AVENUE, SOUTH BEND, INDIANA, BE AN ECONOMIC REVITALIZATION AREA PURPOSES OF A FIVE (5) YEAR PERSONAL PERTY TAX ABATEMENT FOR SOUTH BEND BUNE CORP. 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 213 & 225 West Colfax Avenue, South Bend, Indiana, and which is more particularly described as follows: That part of Lots Numbered Two Hundred Twenty -six (226), Two Hundred Twenty -seven ( 27) and Two Hundred Twenty -eight (228) as shown on the Original Plat of the Town, now City of South Bend, as recordee in the records of St. Joseph County which is described as: Beginning at the Southwest corner of said Lot 228; thence North along the West line of Lots 226, 227 and 228 in said plat 198.00 feet to thE Northwest corner of said Lot 226; thence East along the North line of said Lot 226, 100.00 feet; thence South 139.90 feet; thence West 44.80 feet; thence south 8.0 feet; thence West 17.00 feet; thence South 50.10 feet to the North line of Colfax Avenue; thence West along said line and the South line of Lot 228, 38.20 feet to the point of beginning. Commonly known as 213 West Colfax. The east and west alley north of Colfax Avenue and south of LaSalle Avenue running east from Lafayette Boulevard for a distance of 166 feet to the west side of an alley running north and south between Colfax Avenue and LaSalle Avenue in the City of South Bend, Indiana and being that alley located between Lots 231 and 232 as shown on the recorded Plat of the Town, now City of S uth Bend, St. Joseph County, Indiana.