01-26-87 Council Meeting Minutes

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Z _- - -- - -. EGULAR- MEETI -NG (b) Lessee's interest in leasehold on the fee simple title to parcel 1 under 99 year ground lease from Pak Joint Venture (landlord), a joint venture organized and existing under the laws of the State of Indiana and composed of Pick - Indiana Corporation, an Indiana corporation, American Realty of South Bend, Inc., an Indiana corporation, and K. M. Corporation, an Indiana corporation (which Landlord's interest is now by mesne assignments held by Americana Hotels and Realty Corporation, a Maryland corporation), to Jack W. Kelley (Tenant), which Tenant's interest by mesne assignments is now held by Americana South Bend Associates, an Indiana General partnership), dated December 1, 1967 and recorded January 30, 1968 in Miscellaneous Record book 236, pages 618 to 668, both inclusive, amended by Supplemental Agreement to Ground Lease by and between the said Landlord and the said Tenant dated December 1, 1967 and recorded July 15, 1968 in Miscellaneous Record Book 241, pages 135 to 143, both inclusive, in said Recorder's Office. (c) Easements for the benefit of the interests in the land described as 2 (a) and 2 (b) above, granted by American National Bank and Trust Company of South Bend, now Valley American Bank and Trust Company, to Pak Joint Venture dated November 3, 1970 and recorded November 6, 1970 in deed record 732, pages 299 and 300, as corrected by correcting affidavit recorded November 16, 1970 in Deed Record 732, page 454 (as to Parcel 2) and dated November 11, 1970 and recorded November 16, 1970 in Deed Record 732, pages 455 and 456 (as to Parcel 3), in the Office of the Recorder of St. Joseph County, Indiana, and granted, expanded and confirmed by Agreement Confirming Easements from V. B. T. Realty Corp., an Indiana corporation, to The Main and Washington joint Venture dated January 16, 1984 and recorded April 6, 1984 as Document No. 8406169 in the Office of the Recorder of St. Joseph County, Indiana, and further granted, expanded and confirmed by Second Confirmation of Easements between Valley American Bank and Trust Company and V. B. T. Realty Corp., dated April 6, 1984 and recorded April 6, 1984 as Document no. 8406170 in the office of the Recorder of St. Joseph County, Indiana. PARCEL 2: Beginning at the Southeast corner of Lot Numbered Two Hundred Forty -Three (243) as shown on the Original Plat of the Town, now city of south Bend, Indiana; thence North, on and along the East line of said Lot 243, 66 feet, more or less, to the South line of an alley that is 14 feet wide and is known as Columbia Court; thence East, on and along said South line of said alley, 15 feet to a point; thence South 66 feet, more or less, to a point on the North line of Lot 239 in said Original Plat; thence West, on and along said North line of said Lot 239, 15 feet to the point of beginning. PARCEL 3: Part of Lot Numbered Two Hundred Thirty -Eight (238) as shown on the Original Plat of the Town, now city, of South Bend, Indiana, more particularly described as follows: Beginning at a point 1.0 feet East of the Southwest corner of said Lot 238; thence North parallel with the West line of said Lot 238, 12.80 feet; thence East parallel with the mmm South line of said Lot 238, 7.80 feet; thence South parallel with said west line of said Lot 238. 7.47 feet; thence East parallel with the South line of said Lot 238, 21.63 feet; thence South parallel with the West line of said Lot 238, 5.33 feet to a point on said South line of said Lot 238: thence West, on and along said South line of said Lot 238, 29.43 feet to the point of beginning. be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12,1 -1, et seq.; and WHEREAS, the Redevelopment Commission has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1- 12,1 -1, et seq., and has further prepared maps and plats showing the boundaries and such other information as required by law of the area in questions; and WHEREAS, the Human Resources and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. That 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 II. That this designation shall be limited to five (5) calendar years from the date of the adoption of this resolution by the Common Council. SECTION III. That the Common Council directs the City Clerk to cause notice of the adoption of this resolution to be published, said publication providing notice of the public hearing before the Common Council on said declaration.