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BEND, <br />LAFAYI <br />REVIT) <br />FIVE <br />Whereas, the Common Council of <br />has adopted a Declaratory Reso <br />within the City as Economic Re <br />of tax abatement consideration <br />Whereas, a Declaratory Resol <br />known as 1137 s. Lafayette, <br />described as follows: <br />Beginning at the SW corner of <br />Thence N along the E right-of- <br />336.06 feet + or -to a point; s <br />the S h of Lot 64, South Bend <br />northern boundary of said h of <br />right -of -way of Lafayette Blvd <br />+ or - to the SE corner of Lot <br />W a distance of 125 feet to a <br />thence W 40 feet to a point of <br />City of south Bend, County of <br />with said real estate having t <br />18 8002 0115, 18 8006 0282, 18 <br />028501, 18 8002 0116 as an Eco <br />Whereas, notice of the adoptio <br />the public hearing before the <br />to Indiana Code 6 -1.1- 12.1 -25; <br />Whereas, the Council held a pu <br />hearing all remonstrances and <br />and <br />Whereas, the Council has deter . <br />an economic revitalization are <br />INDIANA, COMMONLY KNOWN AS 1137 S. <br />TTE BLVD., TO BE AN ECONOMIC <br />LIZATION AREA FOR PURPOSES OF A <br />5) YEAR PERSONAL PROPERTY TAX <br />ENT FOR EXACTO, INC. OF SOUTH BEND <br />the City of South Bend, Indiana, <br />ution designating certain areas <br />italization Areas for the purpose <br />and <br />on designated the area commonly <br />which is more particularly <br />of 7 Stull's Second Edition; <br />ay of an alley a distance of <br />id point being the NW corner of <br />ity Edition; Thence E along the <br />Lot 64 which is on the western <br />; Thence, S a distance of 275 feet <br />6, Stull's Second Edition; thence <br />oint; thence S 66 feet to a point; <br />beginning. All being within he <br />t. Joseph, State of Indiana. <br />e following Key Nos.18 8006 0288, <br />8006 028201, 18 8006 0285, 18 8006 <br />omic Revitalization Area, and <br />of a Declaratory Resolution and <br />ouncil has been published pursuant <br />and <br />is hearing for the purpose of <br />jections from interested persons; <br />ned that the qualifications for <br />have been met. <br />NOW, THEREFORE, BE IT RESOLVEDIby the Common Council of the City <br />of South Bend, Indiana, as follows: <br />SECTION I. The Common Council <br />Resolution designating the are <br />Revitalization Area for the pu <br />designation is for Personal pr <br />limited to two (2) calendar ye <br />the Declaratory Resolution by <br />SECTION II. The Common Counci <br />property owner is qualified fo <br />tax deduction for a period of <br />determines that the petition c <br />of the Municipal Code of the C <br />6 -1.1 -12.1 et seq. <br />hereby confirms its Declaratory <br />described herein as an Economic <br />poses of tax abatement. Such <br />perty tax abatement only and is <br />rs from the date of adoption of <br />he Common Council. <br />hereby determines that the <br />and is granted Personal property <br />IVE (5) years, and further <br />mplies with Chapter 2, Article 6, <br />ty of South Bend and Indiana Code <br />SECTION III. This Resolution Ohall be in full force and effect <br />from and after its adoption by the Common Council and approval by <br />the Mayor. <br />A public hearing was held on t <br />Gunther Jordan, the petitioner <br />resolution. He indicated Exac <br />anniversary in the Studebaker <br />to purchase new machinery that <br />competitive in their field. H <br />machinery would be $863,000. <br />motion to adopt this resolutio <br />of the Common Council <br />e resolution at this time. <br />made the presentation for the <br />o was celebrating their 25th <br />orridor. He indicated they intend <br />will allow them to remain <br />estimated the cost of the <br />ouncil Member Coleman made a <br />, seconded by Council Member <br />1 <br />1 <br />1 <br />