11-23-92 Council Meeting Minutes

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445 REGULAR MEETING NOVEMBER 23, 1992 that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the deduction, all of which satisfy the requirements of S.C. 6 -1.1- 12.1 -3. 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 Section 6 -1.1- 12.1 -3 of the Indiana Code. 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 purposed 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 six (6) 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, 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/ Stephen Luecke Member of the Common Council A public hearing was held on the resolution at this time. Council Member Kelly reported that the Human Resources Committee had met on this bill and recommended it to the Council favorable. Ernest Szarwark, attorney, made the presentation for the bill. He indicated the petitioner was the owners of the property which was leased to North American Signs. He indicated North American Signs does installation, maintenance and sign repair. He indicated they were adding 20,000 square feet to their present facility. Council Member Coleman made a motion to adopt this resolution, seconded by Council Member Duda. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1989 -92 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 1400 RIVERSIDE DRIVE, AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN YEAR REAL PROPERTY TAX ABATEMENT FOR LOCK JOINT TUBE INC. Whereas, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 1400 Riverside Dr., South Bend, Indiana, and which is more particularly described as follows: Beginning at the Southeast corner of the Southwest 1/4 of said Section 35; thence South 89 49' 52" West (bearing assumed) along the South line of said Section 308.97 feet; thence north 89 55' 00" west, 116.24 feet; thence North 00 00' 27" West, 12.00 feet to the North line of a 12 foot alley; thence North 89 55100" West along said north line of alley, 236.61 feet to a point 120.00 feet south 89 55'00" east of the east line of Kessler Boulevard, 128.00 feet to a point on the south line of King Street, 180.00 feet south 89 55' 18" east of the northeast corner of Lot 10 as shown on the second plat of Northwest addition to the City of South Bend recorded April 6, 1906 in Plat Book 0, pages 30 and 31; thence south 89 55' 18" east along the south line of King Street, 352.84 feet; thence north 00 00' 27" West, 194.85 feet to a point on the centerline of the East and West 14 foot alley between King Street and McCartney Street proceed East; thence North 99 06' 09" east, 128.81 feet; thence north 89 46' 49" east 287.05 feet to the Westerly line of Riverside Drive; thence south 16 37' 15" west along a chord subtending said Westerly line of Riverside Drive,466.43 feet to the South line of said Section 35; thence North 90 00' 00" west along said south line, 156.71 feet to the point of the beginning. Commencing at the southwest corner of the 1/4 of said section 35; thence North 00 00' 30" West (bearing assumed) along the east line of said southwest 1/4 a distance of 463.14 feet to the Point of Beginning for the following described tract; thence continuing north 00 00' 30" west along said East line 336.00 feet to the South line of Queen Street; thence south 89 56' 09" West along said South line of Queen Street 176.60 feet; thence North 00 02' 36" East 195.00 feet to the centerline of the East and West 14 foot alley between Kinyon Street and Queen Street; thence South 89 56' 09" West along said centerline of alley 131.27