11-28-94 Council Meeting Minutes

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` 6 REGULAR MEETING redevelopment or rehabilitation; and NOVEMBER 28, 1994 F. That the Totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3. G. That the area is located in an Economic Development Target Area designated as such under Indiana Code 6 -1.1- 12.1 -7. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits set forth as Sections I through II of the Petition for Real Property Tax Abatement Consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of ten (10) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6- 1.1- 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s/ Ann Puzzello Member of the Common Council RESOLUTION NO. 2195 -94 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 2930 FOUNDATION DRIVE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE YEAR PERSONAL PROPERTY TAX ABATEMENT FOR EATON CORPORATION WHEREAS, a petition for personal property tax abatement consideration has been filed with the Common Council of the City of South Bend, requesting that the area commonly known as 2930 Foundation Dr., South Bend, Indiana, and which is more particularly described as follows: PARCEL I: A description of 8.2895 acres of land in the North Half of Section 28, Township 38 North, Range 2 East, St. Joseph County, Indiana, said 8,2895 acre tract being part of a certain 12.00 acre tract described in Deed Book 593, page 47 of the deed records of said St. Joseph County, said 8.2895 acre tract being more particularly described as follows: Commencing at a PK nail with disc set at the North Quarter corner of said Section 28: thence along the Northerly line of said North Half of Section 28, being also the North line of said 12.00 acre tract, North 89 58' 54" West a distance of 165.00 feet to a PK nail set for the Northwest corner of said 12.00 acre tract; thence along the Westerly line of said 12.00 acre tract, South 00 14102" West a distance of 785.23 feet to an iron bar set at the point of beginning of the 8.2895 acre tract herein described; thence continuing along the said Westerly line, South 00 14' 02" West a distance of 973.35 feet to a 1 1/4" iron pipe found for the Southwest corner of said 12.00 acre tract being also the Southwest corner of the said 8.2895 tract herein described: thence along the Southerly line of said 12.00 acre tract, South 89 53' 27" East a distance of 371.17 feet to 1 3/4" iron pipe found to the Southeast corner of said 12.00 acre tract, being also the Southeast corner of the 8.2895 acre tract herein described; thence along the Easterly line of said 12.00 acre tract, North 00.12' 22" East a distance of 973.60 feet to a 1" iron pipe found at a corner of said 12.00 acre tract, being also the Southeast corner of a certain tract of land described in record Document No. 9016462; thence along a line of said 12.00 acre tract, being also the Southerly line of said recorded Document No. 9016462, North 89 55150" West a distance of 370.70 feet to the point of beginning. PARCEL II: A description of a portion of the North half of Section 28, Township 38 North, Range 2 East, St. Joseph County, Indiana, said portion being more particularly described as follows: Commencing at the North Quarter corner of said Section 28, being a PK nail and disc marked "50307 "; thence along the North line of said Section 28, North 80 58154" West, a distance of 165.00 feet to a PK nail and disc set marked "5030711, thence along the Westerly line of a certain 12.00 acre track of land described in Deed Book 593, page 47 on file and of record in the Office of the Recorder of St. Joseph County, Indiana, South 00 14102" West, a distance of 1758.58 feet to a 1 1/4" iron pipe found for the Southwest corner of said 12.00 acre track of land and the point of beginning of said portion herein describe; thence continuing along the Southerly extension of ....: a r.,.... s- ....i.. 141e c..,,i -h nn i d l n9ff Wcc+ A Ai atanna of 7(1 _ Fid fat?t to an i rnn