11-23-87 Council Meeting Minutes

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PARCEL 2 A part of the Northeast Quarter, Section 16, Township 37 North, Range 2 East, 2nd P.M., in the City of South Bend, Saint Joseph County, Indiana and also being a part of the land of the Torrington Company, a Delaware Corporation (Book 709, pages 559, 560, and 561, Office of the Recorder) containing 3.067 acres; and more particularly described as follows: Beginning at a point 900.6 feet South of the North line of Section 16, and 1390.55 feet East of the East line of Sheridan Avenue, which point is on the North line of proposed Industrial Avenue and on the Westerly line of an 18 foot railroad spur Right -of -Way for track 2; thence S 21 29'E a distance of 123.45 feet along said Right -of -Way to a point of tangency of a curve to the left, and which Right -of -Way line is at all points 9.0 feet Westerly, at right angles from the center line of spur tract Number 2 of said Railroad, said curve is more particularly defined by the following 4 courses running along said right of way Southeasterly from the point of tangency and measured along chords to said curve, viz: S 19 41'for a distance of 60.0 feet; thence S 22 541E a distance of 100.0 feet; thence S 37 14'E a distance of 100.0 feet; thence S 53 52'E a distance of 100.0 feet to the North Right -of Way line of spur tract Number 1 of said railroad company, thence N 89 51'W a distance of 364.44 feet along said Northern Right -of -Way line of spur tract Number 1; thence N 00 031E a distance of 364.38 feet; thence N 89 571W a distance of 128.91 feet; thence N 00 021W a distance of 318.24 feet; thence S 89 131W a distance of 13.76 feet; thence N 00 031E a distance of 11.76 feet to the Westerly Right -of -Way of the New Jersey, Indiana and Illinois Railroad Company Right -of -Way of spur tract Number 2; thence along said Right -of -Way Southeasterly 371.89 feet along an arc to the right having a radius of 469.15 feet and subtended by a long chord have a bearing of S 44 26130 11E and a length of 362.22 feet to the point of tangency of said curve; thence S 21 441E a distance of 40.0 feet to the point of beginning. PARCEL 3 EASEMENT An easement for vehicular and pedestrian crossing over, upon and across, and for parking upon the following described real estate: A part of the Northeast Quarter, Section 16, Township 37 North, Range 2 East, 2nd P.M., in the City of South Bend, Saint Joseph County, Indian containing 0.175 acres, more or less and more particularly described as follows: Beginning at a point 900.6 feet South of the North line of said Section 16 and 1390.55 feet East of the East line of Sheridan Avenue, which line is on the Westerly line of an 18 -foot railroad spur Right -of -Way of the New Jersey, Indiana and Illinois Railroad Company; thence N 21 44'W a distance of 40.00 feet along said Westerly Right -of -Way; thence along said Right -of -Way Northwesterly 371.89 feet along an arc to the left having a radius of 469.15 feet and subtended by a long chord having a bearing of N 44 26'30 "W and a length of 362.22 feet; thence N 0 031E a distance of 19.2 feet to the Easterly Right -of -Way of said railroad spur; thence along said Right -of -Way Southeasterly 386.19 feet along an arc to the right having a radius of 487.15 feet and subtended by a long chord having a bearing of S 44 26'35 "E and a length of 376.15 feet; thence S 21 44'E a distance of 47.18 feet; thence N 90 00'W a distance of 19.38 feet to the point of beginning. Commonly known as 3602 West Sample Street, South Bend, Indiana 46619. be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1- 12.1 -1, et seq. and South Bend Municipal Code section 2 -76; and WHEREAS, the Department of Economic Development 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 the Indiana Code 6 -1.1- 12.1 -1, et seq. and South Bend Municipal Code Section 2 -76, and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; 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 determines and finds that the estimate of the number of individuals that will be employed or whose employment will be retained and the estimate of value of the redevelopment or rehabilitation and any other benefits about which the body designating the economic revitalization area requires information are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation. SECTION II. That the Common Council hereby determines and finds the following: (A) If the proposed redevelopment or rehabilitation does not occur, the approximate current year tax rate for the City would be 15.0781; (B) If the proposed redevelopment or rehabilitation does occur and no deduction is granted, the approximate current year tax rate for the City would be 15.0764.